03/08/2011 Resolutions 2011-61RESOLUTION 2011 -61
WHEREAS, Mr. Rod Cerny and Smith Hayes Advisers, Inc. currently serve as the
City of Grand Island's co- investment managers for the backstop funds to the pension obligations that
are administered by Wells Fargo; and
WHEREAS, Mr. Cerny was formerly with McCarthy Group Advisors and they were
acquired by Westwood Holding Group, Inc. last fall; and
WHEREAS, Mr. Cerny is joining Smith Hayes Advisers, Inc. and will be providing the
same day -to -day investment management functions as in the past; and
WHEREAS, it is necessary to transfer the investment funds from Smith Hayes
Financial Services to Smith Hayes Advisers, Inc.; and
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Mayor is hereby authorized and directed to
sign on behalf of the City of Grand Island, the Investment Advisory Agreement that directs Smith
Hayes Advisers, Inc. to oversee the management, investment, reinvestment, buying, selling, brokerage
and all other aspects of the assets contained in the portfolio. In addition, Smith Hayes Advisers, Inc.
will have the right and power to make all decisions regarding the nature, amount and timing of
purchase and sell decisions and will keep the City apprised of account information and provide
general investment advice.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute such Agreement with Smith Hayes Advisers, Inc. on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, March 8, 2011.
Attest:
RaNae Edwards, City Clerk
Approved as to Form a
March 7, 2011 rx City Attorney