Resolution 2019-24Resolution No.2019-24
A RESOLUTION APPROVING THE DECLARATION OF TRUST OF THE
ILLINOIS TRUST (FORMERLY KNOWN AS THE ILLINOIS INSTITUTIONAL
INVESTORS TRUST)AND AUTHORIZING THE EXECUTION THEREOF,AND
AUTHORIZING CERTAIN OFFICIALS TO ACT ON BEHALF OF THE
UNITED CITY OF YORKVILLE
WHEREAS, the United City of Yorkville (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 the State; and,
WHEREAS,the Mayor and City Council (the"Corporate Authorities") of the United
City of Yorkville (the "Agency")have been presented with and reviewed the Declaration of
Trust dated October 18, 2002 (the"Declaration of Trust"); and,
WHEREAS,the Declaration of Trust creates a common law trust(the"Trust")to provide
an instrumentality and agency through which public agencies organized under the laws of the
State of Illinois may jointly act, agree, and cooperate in accordance with the laws of the State of
Illinois in the performance of their responsibilities to invest available funds so as to enhance their
investment opportunities pursuant to an investment program conducted in accordance with the
laws of the State of Illinois, from time to time in effect, governing the investment of the funds of
public agencies; and,
WHEREAS, the Corporate Authorities of the Agency have also been presented with and
reviewed the appropriate Information Statement providing detailed information about the
investment objectives, organization, structure, and operation of the Trust and its investment
opportunities; and,
WHEREAS the Agency is a public agency and unit of local government within the
meaning of Section 10 of Article VII of the 1970 Constitution of the State of Illinois(the"Illinois
Constitution"), the Intergovernmental Cooperation Act, 5 ILCS 220/1, et seq., and the Public
Funds Investment Act, 30 ILCS 235/0.01, et seq., and is authorized to enter into
intergovernmental agreements, including the Declaration of Trust, pursuant to, inter alfa, the
provisions of Section 10, Article VII of the Illinois Constitution, the Intergovernmental
Cooperation Act, and the Public Funds Investment Act; and,
WHEREAS, the Agency does hereby find that by entering into the Declaration of Trust
and becoming a Participant(as such term is defined in Section 1.4 of the Declaration of Trust) in
the Trust, it shall be better able to perform its responsibility to invest its funds in accordance with
the laws of the State of Illinois; and,
WHEREAS,the Agency does hereby find and declare that it is in the best interest of the
residents of the Agency that the Agency enter into the Declaration of Trust, become a Participant
of the Trust, and use the Trust's services from time to time at the discretion of the Finance
Director.
NOW THEREFORE,BE IT RESOLVED,by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Resolution No.2019-24
Page 1
Section 1. The facts and statements contained in the preamble to this Resolution are
hereby found to be true and correct and are hereby adopted as part of this Resolution
Section 2. The terms and conditions of the Declaration of Trust are hereby approved, and
the Agency is hereby authorized to become a Participant in the Trust. The persons listed below
are authorized to execute said Declaration of Trust and enter into the Intergovernmental
Agreement, and said persons are duly authorized present incumbents of said offices; and actual
samples of their respective signatures are listed below:
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Section 3. This resolution shall be in full force and effect from and after its passage and
approval according to law.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this 27th day
of August, 2019.
CITY CLERK
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
4/-6 day of SE/PrEf 6ff*,C 2019.
MAYO
Resolution No.2019-24
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