Whereas, the city has determined that participation in the cash management and investment program known as the “Kentucky League of Cities Investment Pool Plus”, for the purpose of the joint investment of moneys with other local governments, will result in economies of scale that should enhance the investment earnings accruing to the city while preserving the principal of the city’s investment; therefore:
(A) The interlocal cooperation agreement and the declaration of trust as described in the information statement and on file in the office of the Secretary of state, are hereby adopted and approved. The Mayor is hereby authorized to execute and deliver the interlocal cooperation agreement and otherwise to evidence the city’s approval and participation in the program including the execution and delivery of all documents and the taking of other actions as may be necessary or appropriate. Further, the City Clerk is hereby authorized to attest such signature and to sign such documents and take such actions as the Mayor shall direct, their respective signatures to constitute conclusive evidence of their approval of the documents they sign; and
(B) The City Manager and Finance Director are hereby designated as “authorized officials” with authority to effectuate the investment and withdrawal of moneys from time to time in accordance with the declaration of trust. The Mayor shall advise the Fund of any changes in authorized officials in accordance with procedures established by the Fund.
(1984 Code, § 35.10) (Ord. O-57-90, passed 11-27-1990)