HomeMy WebLinkAboutDocumentation_Regular_Tab 05B_12/13/2007VILLAGE OF TEQUESTA
AGENDA ITEM TRANSMITTAL FORM
Meeting Date:
Dec 13 2007 Meeting Type: Regular Ordinance #:
Consent Agenda: ~~r~~~~ r~ ii~r~~. Resolution #: 17-07/08
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: 1,500.00 per mo.
Current Budgeted Amount Available:
25000.00 Amount Remaining after item:
%iic~~ i'~~~~~:, ?~~ ~~zrt4:~r ~~~.
Budget Transfer Required: No Appropriate Fund Balance: No
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
This resolution authorizes Dana Investment Advisors, Inc. to act as investment advisors for the
Village of Tequesta and approves a month to month fee not to exceed $1,500 for such services
5. APPROVALS:
Dept. Head: JoAnn Forsythe Finance Director: JoAnn Forsythe
Attorney: (for legal sufficiency)
Village Manager: ~ ~~
SUBMIT FOR COUNCIL DISCUSSION: [~'
APPROVE ITEM:
Yes ^ No ^
DENY ITEM: ^
RESOLUTION NO. 17-07/08
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, APPROVING A MONTH TO MONTH AGREEMENT WITH
DANA INVESTMENT ADVISORS, INC. TO ACT AS INVESTMENT MANAGERS/ADVISORS
FOR THE VILLAGE OF TEQUESTA FOR A MONTHLY FEE NOT TO EXCEED $1,500.00
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., is the current investment advisor 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. 17-07/08 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 _
moved its adoption. The motion was seconded by
upon being put to a vote, the vote was as follows:
who
and
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