St. Charles Parish - File #: 2005-0116

• File #: 2005-0116
• Version: 2
• Name: Contract(s) w/MBIA Asset Management Group, to handle investments for St. Charles Parish Government
• Type: Resolution
• Status: Approved
• File created: 6/6/2005
• In control: Parish Council
• Final action: 6/6/2005
• Enactment date: 6/6/2005
• Enactment #: 5271
• Title: A resolution approving contract(s) with MBIA Asset Management Group, a major accounts services company, to handle the investments for St. Charles Parish Government and authorizes the Parish President to sign, execute and administer said contract(s).
• Sponsors: Albert D. Laque, Department of Finance
• Indexes: Contract/Finance and Administrative Cmte, Finance (Dept. of)
• Related files: 2005-0304

Date	Ver.	Action By	Action	Result
6/7/2005	2	Parish President	Approved by the Par. Pres.
6/6/2005	2	Parish President	Introduced
6/6/2005	2	Parish Council	Amended	Pass
6/6/2005	2	Parish Council	Approved as Amended	Pass
4/27/2005	1	Contract/Finance and Administrative Committee	Discussed.

2005-0116
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(DEPARTMENT OF FINANCE)
RESOLUTION NO.
Title
A resolution approving contract(s) with MBIA Asset Management Group, a major accounts services company, to handle the investments for St. Charles Parish Government and authorizes the Parish President to sign, execute and administer said contract(s).
Body
WHEREAS, The Department of Finance currently invests the Parish funds in accordance with the investment policy adopted October 7, 1996; and,
WHEREAS, MBIA Asset Management Group, a leading provider of investment management services to the public sector has offered to design and implement a customized, safe and effective investment program for St. Charles Parish Government; and,
WHEREAS, MBIA Asset Management Group has agreed to compensation of 12 to 9 basis points, based on the average value of assets under management; and,
WHEREAS, The administration has determined that MBIA Asset Management Group will 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 the contract(s) with MBIA Asset Management Group for the purpose of investing St. Charles Parish Government Funds and authorizes the Parish President to sign, execute and administer said contracts.
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:______________________________________
RETD/SECR...