The City enters into financial investment transactions with various brokers and banks as outlined in NRS 355.170. A resolution, authorizing those individuals who may conduct financial investment transactions in the name of the City of Sparks for its benefit, is required by the brokers and banks.

From time to time, for various reasons, the authorized individuals change. In an effort to develop a well trained staff with a variety of skills, it is desireable to shift the duties of existing accountants as well as remove accountants no longer with the City. The attached Resolution No. 3265 deletes one individual, Curtis Cho, from the authoirzed list and adds another, Rick Parton. It is a complete list of authorized employees.

The City Council may choose not to change the authorized list of individuals who conduct financial investment transactions as proposed by staff and propose other individuals instead.

I move to approve Resolution No. 3265 authorizing certain individuals to make financial commitments to purchase, sell and approve collateral for investment securities on behalf of the City.