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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 8/15/05 <br /> <br />Agenda Item # _1'=- I ~ <br /> <br />SUBJECT: <br />Addition to list of brokers to obtain quotes for investment purposes as required under G.S. <br />159-31. <br /> <br />BRIEF SUMMARY: <br /> <br />G.S. 159-31 requires the approval of all banks/brokers with which the County places <br />investments. A request is being made to add BB& T Capital Markets and Citigroup/Hart <br />Group to our broker list. These brokers have requested to be added to our bid list and have <br />met the criteria of our investment policy. Staff will be available at the Board of <br />Commissioners meeting should questions arise. The banks/brokers must follow G.S. <br />159-30. Investment of idle funds as dictated by the Local Government Budget & Fiscal <br />Control Act. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Approve two new banks/brokers (BB&T Capital Markets and Citigroup/Hart Group) for <br />County investment purposes. <br /> <br />Attachments 0 Yes IZI No Expected Length of Presentation 5 min <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 7/29/05 <br /> <br />Budget Amendment Required: 0 Yes ~ No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes IZI No <br />County Manager's Recommendations/Comments: <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Approved <br />Denied <br /> <br />Action Taken: <br />[ ] <br />[ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />F-J/.d <br />