Columbus, Georgia

Georgia's First Consolidated Government

Post Office Box 1340
Columbus, Georgia, 31902-1340
(706) 653-4013
fax (706) 653-4016

Council Members

Agenda Item # 3

Columbus Consolidated Government

Council Meeting



February 13, 2018



Agenda Report # 73





TO: Mayor and Councilors



SUBJECT: Georgia Fund I Investment Pool Signatory Update



INITIATED BY: Finance Department





Recommendation: Approve a resolution updating the signatories for the City at

the ?Georgia Fund I? Investment Pool which is operated by the state Office of

Treasury and Fiscal Services.



Background: O.C.G.A. ?36-83-1, et. Seq. authorizes local governments to invest

funds at Georgia Fund I which is operated by the state Office of Treasury and

Fiscal Services. The Office of Treasury and Fiscal Services requires adoption

of a new resolution by Council any time there are banking changes, changes in

the individuals who are authorized to deposit or withdraw funds from the pool,

or there is a need to provide new information. This requested resolution is to

change the individuals who are authorized to deposit or withdraw funds from the

pool.



Analysis: The investment pool is operated as a money market account, which

invests only in securities authorized by state law.



Financial Considerations: Continued use of the pool is expected to provide a

favorable investment return with minimal risk while assuring sufficient

liquidity for the City.



Legal Considerations: The Office of Treasury and Fiscal Services requires

adoption of a new resolution by Council any time there are banking changes or

changes in the individuals who are authorized to deposit or withdraw funds from

the pool.



Recommendations/Actions: Approve a resolution updating the signatories for the

City at the local government investment pool known as ?Georgia Fund I? which is

operated by the State Office of Treasury and Fiscal Services.











A RESOLUTION

No._________



A RESOLUTION UPDATING THE SIGNATORIES FOR THE CITY AT THE GEORGIA FUND

I INVESTMENT POOL WHICH IS OPERATED BY THE OFFICE OF TREASURY AND FISCAL

SERVICES.



WHEREAS, O.C.G.A. ?36-83-1, et. Seq. authorizes the investment of funds

by local governments in a local government investment pool operated by the

state; and,

WHEREAS, the local government investment pool serves as a cash management tool

for the Columbus Consolidated Government investment portfolio; and,

WHEREAS, the Columbus Consolidated Government is required to adopt a

resolution in order to change the individuals authorized to deposit and

withdraw funds from the pool.



NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA HEREBY RESOLVES:



The Mayor is authorized to execute the attached form to update the signatories

at the Georgia Fund I Investment Pool.



Introduced at a regular meeting of the Council of Columbus, Georgia, held on

the 13th day of February, 2018, and adopted at said meeting by the affirmative

vote of _________ members of said council.





Councilor Allen voting ___________.

Councilor Baker voting ___________.

Councilor Barnes voting ___________.

Councilor Davis voting ___________.

Councilor Henderson voting ___________.

Councilor Garrett voting ___________.

Councilor Huff voting ___________.

Councilor Pugh voting ___________.

Councilor Thomas voting ___________.

Councilor Woodson voting ___________.







______________________________ ________________________

Tiny B. Washington, Clerk of Council Teresa Pike Tomlinson, Mayor

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