ADOPTED - FEBRUARY 23, 1999

Agenda Item No. 9

Introduced by the Finance Committee of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION AMENDING RESOLUTION #97-14 FOR THE DEPOSIT AND INVESTMENT OF COUNTY FUNDS

RESOLUTION #99-37

WHEREAS, Michigan law requires each newly elected Board of Commissioners to enact a resolution for the deposit and investment of county funds, and

WHEREAS, Resolution #97-14 satisfies that requirement and has been in effect since its adoption.

THEREFORE BE IT RESOLVED, that Resolution #97-14, as it appears in Appendix #1 of the Investment Policy of Ingham County (Resolution #98-110), is hereby amended to reflect the newly elected Board of Commissioners for 1999-2000.

FINANCE: Yeas: McDonald, Schafer, Juall, Minter

Nays: None Absent: Bernero, Grebner, Lynch Approved 2/17/99

ATTACHMENT TO AGENDA ITEM NO. 9

APPENDIX #1

ADOPTED - JANUARY 28, 1997

Introduced by the Finance Committee of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION FOR THE DEPOSIT AND INVESTMENT OF COUNTY FUNDS

RESOLUTION #97-14

WHEREAS, under the law of the State of Michigan, Act No. 40 of the Michigan Public Acts of 1932, 1st Extra Session, as amended (MCL 129.12), this Board is required to provide, by resolution, for the deposit of all public monies including tax monies, belonging to, or held for, the State, County or other political units coming into the hands of the County Treasurer, in one or more banks, savings and loan associations or credit unions within the State.

THEREFORE BE IT RESOLVED, (1) the Ingham County Board of Commissioners hereby directs Donald R. Moore, Ingham County Treasurer, to deposit all public monies, including monies and funds held for the State Board of Escheats or missing heirs, coming into his hands as Treasurer in any bank, savings and loan association or credit union within the State which is a legal depository as defined by State and/or Federal law, and (2) the treasurer is authorized to invest funds with these institutions or any institution legally permitted by State Statute Act No. 20 of the Michigan Public Acts of 1943, as amended (MCL 129.91) or Federal law or regulation within the limits set therein.

BE IT FURTHER RESOLVED, that the County Treasurer is authorized to enter into and execute on behalf of the County any contracts with any bank or trust company for the safekeeping or third party custodianship of any of the County's securities as well as any contracts or repurchase agreements with any corporation for the purchase of any such securities which will be the subject of such safekeeping or third party custodianship arrangements, on such terms and conditions as the County Treasurer shall require.

BE IT FURTHER RESOLVED, that the County Treasurer is authorized to rely on the continuing of this resolution until amended or replaced by a subsequent resolution of this or successor Board of Commissioners.

FINANCE: Yeas: McDonald, Czarnecki, Sims, Bernero, Stid, Keefe, Schafer

Nays: None Absent: None Approved 1/22/97 Approved 2/17/99