DATE: October 2, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
SUBJECT:
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Consideration of Resolution 2015-61, a Resolution Certifying Account Authorization of City Officials (10/08/15 Finance 3-0).
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning Resolution 2015-61, which certifies certain officials have the authority to enter transactions on behalf of the City.
Background
From time to time, some of the financial companies doing business with the City of Franklin request a formal certification that details which officials are allowed to conduct transactions on behalf of the City. Westwood Global Investments, one of the money managers of pension assets, has requested a certification.
City staff has modeled a certification resolution that is patterned after similar resolutions that we routinely prepare for our providers of banking services.
Financial Impact
There is no financial impact resulting from the Resolution.
Recommendation
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Staff recommends approval of the Resolution by Committee, in order to forward to the full Board of Mayor & Aldermen.