1995-47•
RESOLUTION NO. g5- 47
•
A RESOLUTION AUTHORIZING AN INVESTMENT ACCOUNT WITH MESIROW FINANCIAL, INC.
NOW, THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS the following:
Section 1. The President and Board of Trustees of the Village of Buffalo Grove
be and they hereby authorize and empower either the Village's Director of Finance
and General Services or Village Treasurer for and on behalf of the Village, to
establish and maintain one or more accounts, for the purpose of purchasing,
investing in, or otherwise acquiring, selling, possessing, transferring,
exchanging, or otherwise disposing of, or turning to account of, or realizing
upon, and generally dealing in and with any and all forms of securities
including, but not by way of limitation, shares, stocks, bonds, options,
debentures, notes, script, participation certificates, rights to subscribe,
option warrants, certificates of deposit, mortgages, choses in action, evidences
of indebtedness, commercial paper, certificates of indebtedness and certificates
of interest of any kind and nature whatsoever, secured or unsecured, whether
represented by trust, participating and /or other certificates or otherwise; but
such authority shall not include the opening of marginal accounts or the making
of short sales.
Section 2. The fullest autho
or with respect to any tra
agents or employees of the V
conferred, including authori
to give written or oral
transactions; to bind and ob
contract, arrangement, or t
officer and /or agent or empl
the Brokers; to pay in cas
Village such sums as may be
to deliver securities to,
transfer of delivery thereof
transfer of record of any
officers and agents or empl
-ity at all times with respect to any such commitment
zsaction deemed by any of the said officers and /or
_llage to be proper in connection therewith is hereby
:y (without limiting the generality of the foregoing)
.nstructions to the Brokers with respect to said
.igate the Village to and for the carrying out of any
=ansaction, which shall be entered into by any such
>yee for and on behalf of the Village with or through
i or by checks and /or drafts upon the funds of the
necessary in connection with any of said accounts;
ind deposit funds with, the Brokers; to order the
to any other person whatsoever and /or to order the
; ecurities to any name selected by and of the said
)yees; to affix the corporate seal to anv documents
Ur agreemenLS, or otnerwise; Lo enaorse any securities in order to pass title
thereto; to direct the sale or exercise of any rights with respect to any
securities; to sign for the Village all releases, powers of attorney and /or other
documents in connection with any such account, and to agree to any terms or
conditions to control any such account; to direct the Brokers to surrender any
securities to the proper agent or party for the purpose of effecting any exchange
or conversion, or for the purpose of deposit with any protective or similar
committee, or otherwise; to accept delivery of any securities; to appoint any
other person or persons to do any and all things which any of the said officers
and /or agents or employees of the Village is hereby empowered to do, and
generally to do and take all action necessary in connection with the account, or
considered desirable by such officer and /or agent or employees with respect
thereto.
Section 3. That the Brokers may deal with any and all of the persons directly or
indirectly by the foregoing Resolution empowered, as though they were dealing
with the Village directly.
Section 4. That the Village Clerk of the Village be and hereby is authorized,
empowered, and directed to certify, under the seal of the Village, or otherwise,
to the Brokers:
(A) a true copy of this Resolution;
(B) specimen signatures of each and every person by this Resolution
empowered, if so required by the Broker.
0 ' 0
Section 5. That the brokers may rely upon any certification given in accordance
with these instructions, as continuing fully effective unless and until the
Brokers receive due written notice of a change in or the rescission of the
authority so evidenced and the dispatch or receipt of any other form of notice
shall not constitute a waiver of this provision, nor shall the fact that any
person hereby empowered ceases to be an officer and /or agent or employee of the
Village or becomes an officer under some other title, in any way affects the
powers hereby conferred. The failure to supply any specimen signature shall not
invalidate any transaction if the transaction is in accordance with authority
actually granted.
Section 6_ That in the event of any change in the office or powers or persons
hereby empowered, the Village Clerk shall certify such changes to the Brokers in
writing in the manner hereinabove provided, which notification, when received
shall be adequate both to terminate the powers theretofore authorized, and to
empower the persons thereby substituted.
Section 7. That the foregoing Resolutions and the certificates actually furnished
to the Brokers by the Village Clerk of the Village pursuant thereto, be and they
hereby are made irrevocable until written notice of the revocation thereof shall
have been received by the Brokers.
AYES: 5 - Marienthal, Reid, Rubin, Braiman, Glover
NAYS: 0 - None
ABSENT: 1 - Hendricks
PASSED: June 19 ,1995.
APPROVED: June 19 ,1995.
i
illage Pr ent
ATTEST:
Villag lerk