2005-0304
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(DEPARTMENT OF FINANCE)
RESOLUTION NO.____________
Title
A resolution approving Citigroup Global Markets, Inc., Lehman Brothers, Inc., Morgan Stanley, Legg Mason Wood Walker, Inc., and J.P. Morgan Securities, Inc. as authorized Broker/Dealers for St. Charles Parish Government.
Body
WHEREAS, The Department of Finance currently invests the Parish funds in accordance with the investment policy adopted October 7, 1996; and,
WHEREAS, the investment policy requires all broker/dealers be approved by a resolution adopted by the St. Charles Parish Council; and,
WHEREAS, MBIA Asset Management Group, a leading provider of investment management services to the public sector was approved by the Council on June 6, 2005 through Resolution No. 5271 to handle the investments for St. Charles Parish; and,
WHEREAS, MBIA Asset Management Group has recommended the above Broker/Dealers, based on their ability to service governmental investors; and,
WHEREAS, the administration has determined that the above Broker/Dealers will be able to offer a greater return on investments while maintaining the liquidity and security currently realized by the Parish.
NOW, THEREFORE, BE IT RESOLVED, THAT WE, THE MEMBERS OF THE ST. CHARLES PARISH COUNCIL, do hereby approve Citigroup Global Markets, Inc., Lehman Brothers, Inc., Morgan Stanley, Legg Mason Wood Walker, Inc., and J.P. Morgan Securities, Inc. for the purpose of investing St. Charles Parish Government Funds.
Vote
The foregoing resolution having been submitted to a vote, the vote thereon was as follows:
And the resolution was declared adopted this _____ day of ___________, 2005, to become effective five (5) days after publication in the Official Journal.
CHAIRMAN:________________________________
SECRETARY:_______________________________
DLVD/PARISH PRESIDENT:___________________
APPROVED:__________ DISAPPROVED:________
PARISH PRESIDENT:________...
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