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Item Coversheet Page 1 of 1 <br /> Financial Management <br /> DATE: 10/27/2015 <br /> MEMO: 2015-17 <br /> TO: Honorable Mayor Moore Wolfe and City Council Members <br /> FROM: Tim Gleason,City Manager <br /> Gregg D.Zientara,City Treasurer&Director of Finance <br /> SUBJECT: Resolution Appointing City Treasurer and City Manager as Agents Pursuant to <br /> Investment Management Agency Agreement between Regions Bank and City of <br /> Decatur <br /> SUMMARY RECOMMENDATION: <br /> City Administration recommends City Council approval of the attached Council Resolution to appoint and direct the City Treasurer <br /> and City Manager to act as agents for the City of Decatur,in the Investment Management Agreement with Regions Bank. <br /> BACKGROUND: <br /> City Administration has previously communicated to the City Council through the monthly Treasurer's Financial Report briefings <br /> at the City Council Meetings,the City intention to invest certain monies representing temporary excess funds in the City Treasury <br /> to maximize the financial return of such temporary excess funds. <br /> Such investment of temporary excess funds will be invested in accordance with the City of Decatur Investment Policy, State of <br /> Illinois Public Funds Investment Act and all other statutes,regulations and rules of federal,state and local law. <br /> POTENTIAL OBJECTIONS: There are no known objections to this resolution request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCE: Tim Gleason,City Manager Gregg D.Zientara,City Treasurer&Director of Finance <br /> BUDGET/TIME IMPLICATIONS: <br /> None. <br /> ATTACHMENTS: <br /> Description Type <br /> Resolution Resolution Letter <br /> Investment Mana�;ement A�;reement Backup Material <br /> REVIEWERS: <br /> Department Reviewer Action Date <br /> Financial Management Bright,Debbie Approved 10/29/2015-4:37 PM <br /> https://decatur.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=294 10/30/2015 <br />