92-12 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, NINNESOTA
RESOLUTION
Date: January 27, 1992
Resolution No. 92-12
Motion By: Mason
Seconded By: Dimler
RESOLUTION
WHEREAS, the City wishes to engage the services of Paine
Webber Incorporated for the purpose of the purchase and sale of
exempted securities (as that term is defined in the Securities
Exchange Act of 1934, as amended).
NOW, THEREFORE, BE IT RESOLVED, by the Chanhassen City
Council:
1. That an account be opened by the City of Chanhassen with
Paine Webber Incorporated (hereafter referred to as PWI),
members of the New York Stock Exchange, and of the other
stock exchanges, to purchase, sell, and/or deal in any
and all investments which the City is authorized by
statute to purchase, and that all orders and instructions,
written or oral, upon said account be given by the
Chanhassen City Manager/Clerk and/or his designees.
2. That the Ohanhassen City Manager/Clerk and/or his
designees be and hereby authorized and directed to
execute and deliver on behalf of the Oity of Chanhassen
any customer's agreement required by PWl, and to enter
into, execute and deliver, any and all other agreements,
documents, releases, and writings that may be required
by said PWl for the opening.and/or continuing of said
account in connection with any transactions relating to
said account or to any securities, moneys, or other
property of the City of Chanhassen, whether or not in
said account; and
3. That until PWl shall receive due written notices of
change or rescission of these resolutions, said PWl
may rely upon the authority contained in these
resolutions as continuing fully effective, and said
PWI may rely upon any certified copy resolutions,
specimen signatures, or other writings, signed on
behalf of the City of Chanhassen by the Chanhassen
City Manager/Clerk and/or his designees; the acceptance
of any other form of notice shall not constitute a waiver
of this provision; and
4. That any and all orders and instructions heretofore
given said PWI on behalf of the City of Chanhassen
by the Chanhassen City Manager/Clerk and/or his
designees, are hereby in all respects ratified,
confirmed, and approved; and
5. That the foregoing resolutions and the certificates
actually furnished to PWl by the Chanhassen City
Council, be and they hereby are made irrevocable, and
shall be fully effective as to any transactions for
the account of the City of Chanhassen notwithstanding
that the account may have been temporarily closed or
inactive, until written notice of the revocation thereof
shall have been received by PWI.
ADOPTED by the City Council of the City of Chanhassen this
27th day of January
, 1992.
Don Ashworth,-~Clerk/Manag~r
YES
Chmiel
Workman
Wing
Dimler
NO ABSENT
None None
Mason