RESOLUTION NO. 10818-011508

A RESOLUTION RESCINDING RESOLUTION NO.10637-050206.

AND REAUTHORIZING AN INVESTMENT AGENCY AGREEMENT

WITH MARSHALL & ILSLEY (M&I) TRUST COMPANY N.A.

BY__________________________________________________

WHEREAS, S.66.0603 (2)), Wis. Stats. provides for the delegation of investment authority over funds not immediately needed to a state or national bank, or trust company which meets statutory conditions; and

WHEREAS, the City adopted Resolution No. 10637-050206, which, in addition to other actions within the resolution, authorized an investment agency agreement with Marshall & Ilsley (M & I) Trust Company N.A.;  and,

WHEREAS, Resolution No. 10637-050206 is being rescinded, with its several actions being separated to allow the investment agency agreement with Marshall & Ilsley (M & I) Trust Company N.A to be authorized by a separate resolution of the Common Council; and

WHEREAS, the City wishes to continue the agreement with Marshall & Ilsley (M & I) Trust Company N.A. to provide investment services for the City.

NOW THEREFORE BE IT RESOLVED by the Mayor and Common Council that Resolution No. 10637-050206 is hereby rescinded; and,

BE IT FURTHER RESOLVED that the City Clerk/Comptroller is hereby authorized to continue the current Investment Agency agreement between the City of Oak Creek and Marshall & Ilsley (M & I) Trust Company N.A., and is further authorized to from time to time identify those employees of the City of Oak Creek who are authorized to give direction to and otherwise transact business with Marshall & Ilsley (M & I) Trust Company N.A.; and

BE IT FURTHER RESOLVED that the City Clerk/Comptroller is hereby authorized to sell, assign and endorse for transfer, certificates representing bonds or other securities now registered or hereafter registered in the name of the City of Oak Creek, and is further authorized to give such directions that are necessary for the transfer of assets from brokerage or investment accounts or any other deposit accounts in the name of the above-named organization to Marshall & Ilsley (M&I) Trust Company N.A.

BE IT FURTHER RESOLVED that in the absence or disability of the City Clerk/Comptroller, the City Treasurer shall have temporary authorization to so act; in the absence or disability of both the City Clerk/Comptroller and the City Treasurer, the Finance Manager shall have temporary authorization to so act.

Introduced at a regular meeting of the Common Council of the City of Oak Creek held this 15^th day of January, 2008..

Approved this ____ day of ____________, 2008.

_________________________________________

President, Common Council

Passed and adopted this _____ day of ______________, 2008

______________________________________

ATTEST:                                                                Mayor

 _________________________________  VOTE:   Ayes ____    Noes ____

City Clerk