2024-51 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: July 22, 2024 RESOLUTION NO: 2024-51
MOTION BY: McDonald SECONDED BY: Kimber
A RESOLUTION APPROVAL TO OPEN A 2024A BOND PROCEED
ACCOUNT WITH PERSHING INSTITUTIONAL, AND ENGAGE
EHLERS INVESTMENT PARTNER S AS INVESTMENT ADVISOR
WHEREAS, the 2024A bond proceeds should be placed in a separate account for
regulatory compliance purposes; and
WHEREAS, Ehlers Investment Partners LLC, recommends opening a new
brokerage account for such purpose; and
WHEREAS, Ehlers Investment Partners LLC, as the City’s investment fiduciary will help
manage and advise the City on the investment of these funds in accordance with the City's
Investment Policy and State Statute
WHEREAS, the Finance Director supports Ehlers' recommendation and agree s that a
separate brokerage account for the 2024A proceeds is in the best interest of the City.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of
Chanhassen that it hereby approves engagement of Ehlers Investment Partners LLC to open a
Pershing Institutional brokerage account for the 202 4A bond proceeds and aid the City in the
management of these investments.
PASSED AND ADOPTED this 22 day of July 2024, by the City Council of
Chanhassen, Minnesota.
CITY OF CHANHASSEN
ATTEST:
Jenny Potter, City Clerk Elise Ryan, Mayor
YES NO ABSENT
Ryan
McDonald
Schubert
von Oven
Kimber
Docusign Envelope ID: 4A403BA7-2F94-4FA2-8505-245C3A69554F