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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />&~:) <br /> <br />Meeting Date 12/19/05 <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 Finistar to the broker list. This broker has <br />requested to be added to the bid list and has met the criteria of the investment policy. Staff <br />will be available at the Board of Commissioners meeting should questions arise. The <br />bankslbrokers must follow G.S. 159-30. Investment of idle funds as dictated by the Local <br />Government Budget & Fiscal Control Act. <br /> <br />REQUESTED ACTION: (Suggested motion If the Board apptOVes the agenda Item as presented) <br />Approve Finistar, Inc., as a new bank/broker for County investment purposes. Authorize <br />Finance Director to sign Custodial Agreement attached upon the completion of the <br />Attorney review process. <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 12/1/05 <br />Name I Job Title <br /> <br />Budget Amendment Required: 0 Yes ~ No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes ~ No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />fl <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />G--3 <br />