HomeMy WebLinkAboutDocumentation_Regular_Tab 05A_12/13/2007~& ~-~
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1. VILLAGE COUNCIL MEETING:
Meeting Date:
Dec 13 2007 Meeting Type: Regular Ordinance #:
Consent Agenda: ~~~E~~ Sri i~rr~. Resolution #: 16-07/08
Originating Department: Finance
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Approval to appoint Dana Investment Advisors, Inc to evaluate Tequesta's current short term investments and
alternatives.
3. BUDGET /FINANCIAL IMPACT:
Account #: 001-160-534.300 Amount of this item: 5,000.00
Current Budgeted Amount Available:
25000.00 Amount Remaining after item:
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Budget Transfer Required: No Appropriate Fund Balance: No
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the aaenda item)
Approval to appoint Dana Investment Advisors, Inc to evaluate Tequesta's current short term investments and
alternatives.
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Dept. Head: JoAnn Forsvthe Finance Director: JoAnn Forsvthe
Attorney: (for legal sufficiency)
Village Manager:
SUBMIT FOR COUNCIL DISCUSSION:
APPROVE ITEM:
Yes ^ No ^
DENY ITEM: ^
RESOLUTION NO. 16-07/08
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, AUTHORIZING THE VLLAGE MANAGER A CONTRACT WITH
DANA INVESTMENT ADVISORS, INC. TO EVALUATE TEQUESTA'S CURRENT SHORT-
TERM INVESTMENTS AND ALTERNATIVES, AND PROVIDE SUGGESTIONS FOR SHORT-
TERM INVESTMENT SECURITIES AND FUNDS THAT EMPHASIZE LIQUIDITY AND
SAFETY OF PRINCIPAL AS PRIMARY GOAL FOR A FEE OF $5,000.00
Whereas, the current status of the Village's investments with the Local Government
Investment Pool (LGIP) with the State Board of Administration has required the Village to
consider alternative investments;
Whereas, Dana Investment Advisors, Inc., are the current advisor's for the Village of
Tequesta General Employee Pension Trust;
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1 Resolution No. 16-07/08 authorizing a contract with Dana Investment
Advisors, Inc. to perform the services described above and authorizing the Village
Manager to proceed on behalf of the Village, is hereby approved .
Section 2 This Resolution shall become effective immediately upon passage.
The foregoing Resolution was offered by ,who
moved its adoption. The motion was seconded by ,and
upon being put to a vote, the vote was as follows:
For Adoption Against Adoption
Mayor Jim Humpage
Vice-Mayor Pat Watkins
Council Member Dan Amero
Council Member Tom Paterno
Council Member Calvin Turnquest
The Mayor thereupon declared the Resolution duly passed and adopted this 13th day of
December, 2007.
MAYOR OF TEQUESTA
ATTEST:
Jim Humpage
Lori McWilliams, CMC
Village Clerk