Resolution 2019-25 Resolution No.2019-25
A RESOLUTION OF THE UNITED CITY OF YORKVILLE,KENDALL COUNTY,
ILLINOIS,APPROVING INVESTMENT SERVICES WITH ILLINOIS PUBLIC
RESERVES INVESTMENT MANAGEMENT TRUST
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City") is a duly
organized and validly existing non home-rule municipality created in accordance with the
Constitution of the State of Illinois of 1970 and the laws of this State; and,
WHEREAS,the City passed Resolution Number 2015-02,on January 13,2015,approving
investment services with PMA Financial Network, Inc. and PMA Securities, Inc. ("PMA"); and,
WHEREAS, effective on or before January 1, 2019 the existing investment platform will
be replaced by PMA with a new investment platform utilizing Illinois Public Reserves Investment
Management Trust("IPRIME") which will provide more online reporting options and the ability
to transfer funds on-line including direct deposit of tax revenue; and,
WHEREAS, the Finance Director has recommended that the City approve the new
investment platform with IPRIME.
NOW,THEREFORE,BE IT RESOLVED,by the Mayor and City Council of the United
City of Yorkville, Kendall County, Illinois, as follows:
Section 1. That the IPRIME investment platform option and its DECLARATION OF
TRUST is hereby approved and the Finance Director is authorized to execute such instruments
necessary for the City's approval of the IPRIME investment platform.
Section 2. This Resolution shall be in full force and effect from and after its passage and
approval as provided by law.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois,
this 27th day of August, 2019.
CITY CLERK
Resolution No.2019-25
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KEN KOCH AYE DAN TRANSIER AYE
JACKIE MILSCHEWSKI AYE ARDEN JOE PLOCHER AYE
CHRIS FUNKHOUSER AYE JOEL FRIEDERS AYE
SEAVER TARULIS AYE JASON PETERSON AYE
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this J�'-6 day of c���TErL(8�.�2 ,2019.
MAYOR
Attest:
CITY CLERK
Resolution No.2019-25
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