06/12/2001 Resolutions 2001-160
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RES 0 L UTI 0 N 2001-160
WHEREAS, on May 22, 2001, the Mayor and City Council of the City of Grand
Island have approved and adopted Ordinance No. 8677 which is supplemented and amended by
Ordinance No. 8677 A providing for issuance of Electric System Revenue Bonds, Series 2001; and
WHEREAS, said ordinances authorized insuring said bonds based upon prudent
financial considerations; and
WHEREAS, the City's bond underwriter, Ameritas Investment Corporation
(Ameritas), recommends that the proceeds of said bonds be invested in a guaranteed investment
contract with a nationally recognized, highly rated financial institution pending expenditures; and
WHEREAS, Ameritas will receive and evaluate responses to requests for proposals
for guaranteed investment contracts and will make recommendations to the City concerning the
award of a contract; and
WHEREAS, it is in the best interests ofthe City to enter into a guaranteed investment
contract based on the evaluations and recommendations of Ameritas at the earliest opportunity as
part of the prudent management of the bond proceeds.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that due hereby approve the request for proposal
of Ameritas Investment Corporation for a guaranteed investment contract for the proceeds of Electric
System Revenue Bonds, Series 2001.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized to execute all
documents necessary to enter into a guaranteed investment contract in conformity with the evaluation
and recommendations of Ameritas Investment Corporation.
Adopted by the City Council of the City of Grand Island, Nebraska on June 12,2001.
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RaNae Edwards, City Clerk
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Approved as to Form'" ~
June 8. 2001 .. City Attorney