1986-05-05 - Resolution 1986-33 - ESTABLISHING AN INVESTMENT ACCOUNT WITH BLUNT, ELLIS & LOEWI, INCORPORATED FOR THE VILLAGE'S WATER FUND SINKING FUND RESERVE ACCOUNTRESOLUTIoN N0. 86- 33
A RESO1UTION ESTASLISHING AN INVESTMENT ACCOUNT WITH BLUNT, ELLIS & LOEWI,
INCORPORATED FOR THE VILLACE'S WATER FUND SINKING FUND RESERVE ACCOUNT
WI{EREAS, the vlllage of Buffalo Grove malntalns certaln of 1ts I'rater
Fund Slnklng rund Reeerve Account Lnvestments wlth the flrm of Blunt, E1lis &
Loewl, Incorporated; aud
WEEREAS, the provlslons of the account requlre that a Trust Account
Authorlzatlon be executed by the Vlllage Presldent and Vlllage Clerk
authorizlng the manageEent of the account.
NOW, TIIERETORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
TIIE VILLAGE OT BUI'FALO GROVE, COOK AND LAKE COI'NTIES, ILLINOIS thAt!
SECTION l. The Vlllage of Buffalo Grove shall forrally establlsh an
lnvestEent management account wlth Blunt' E11ls & Loelri for the
Vlllagers Slnklng Fund Reserve Account No. NBl4-8030-2680. Said invest-
nents shall conform to the Villagers Deposlt and Investment Policy of
May l, 1986.
SECTION 2. The Vl11age President and Vlllage Clerk are hereby
authorlzed to execute the attached Trust Account Authorlzatlon dated
May t, 1986 to open the nanagement account for the Slnklng Fund Reserve.
AYES: 6 - MarienEhal, OrReilly , Glover, Reid, Shields. Kowalski
NAYES: 0 - None
0 - NoneABSENT:
PASSED:llay 5
APPROVED :May 5
1986.
198
v11 ge Preslden t
ATTEST:
.ii-h1.!''d;*.
vl11dga Clerk
TRUST ACCOUNT AUTHORIZATION
TO Blunt, Ellis & Loewl Incorporated
DATE :May 1, 1985
Under Resolution dated l{ay 5, 1986, the Trustee(s) hereby authorize WllliamIl, Brlm, or Paul Kochendorfer as their agent and ratify all actlons and
instructions whlch may be given wlth respect to any transaction deemed by allof them to be proper in connectLon lrith sald account, lncluding (but wlthoutllmltatlon thereto) authority to gLve rrrltten or oral instructLons to you as
brokers wlth respect to such transactlons, and generally to do and take al1actlon necessary 1n connectlon wLth the account or consldered desirable by
sald Trust wlth respect thereto, You, as broker, are authorlzed thereunder
and hereby to deal wlth the Trustee(s) as enpowered by sald Resolution.
You may upon request to the Trustee(s) obtaln a true copy of sald Resolutlon
and specinen signatures of each Trustee(s) empowered under saLd
Resolutlon.
The Trustee(s) of the Trust are requlred to certlfy to you promptly, when and
as made, any change 1n the Trustee(s) or powers of the Trustee(s), or Trust
Agreenent and such nodlflcation when recelved by you sha1l be adequate bothto ternlnate the powers of the Trustee(s) heretofore authorized and to
emporrer the Trustee(a) thereby substltuted.
Pursuant to the aforesald Resolution, the powers and authorlty granted shall
contlnue fully effectlve until recelpt by you of v"rltten notice of change orreelslon thereof,
Signatures of authorized Trustee (s) :
Very truly yours,
Trustee (s) :
&r8.."---Village Pres ident
The undersigned Trustee(s) authorlze and request you to open an account ln
the name of VILLAGE OF BUFFAIO GRoVE SINKING EI,ND RESERVE ACCoIINT Trusr for
the purpose of purchaslng, investlng in or otherwise acquiring, selllng and
generally deallng ln and with all forns of securities; provlded, horrever,that
unless specifLcally authorlzed ln writing said authorLty shall not include
deallng ln optlons, the openlng of marginal accounts or the maklng of short
sales.
v111ag, clerk