File #: 15-0918    Version: 1 Name:
Type: Contract/Agreement Status: Passed
File created: 10/2/2015 In control: Board of Mayor & Aldermen
On agenda: 11/10/2015 Final action: 11/10/2015
Title: Consideration of Resolution 2015-61, a Resolution Certifying Account Authorization of City Officials (10/08/15 Finance 3-0).
Sponsors: Eric Stuckey, Russ Truell
Attachments: 1. Resolution 2015-61

 

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.