HomeMy WebLinkAbout2025-11-03 I01J Appointment_Official City Depository-UBS FinancialAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 3, 2025
AGENDA ITEM:Consideration of approval of a resolution approving temporary Official
City Depository and Resolution of Governing Body for UBS Financial
Services Inc
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: This approval will allow for the acceptance of
the cash and marketable securities from the Duane and Doris Winters
1986 Trust of which the City was named as a trust beneficiary.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: City staff recommends approval of temporary
depository resolution for UBS Financial Services for the sole purpose of
accepting the marketable securities for which the City was named a
beneficiary. Estimated value as of August 31, 2025, was $1,200,000.
UBS also needs approval of the Resolution of Governing Body to
proceed with the transfer of the securities.
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
I1J
THE CITY OF WAUKEE, IOWA
RESOLUTION 2025-
APPROVING TEMPORARY OFFICIAL CITY DEPOSITORY AND RESOLUTION OF
GOVERNING BODY FOR UBS FINANCIAL SERVICES INC
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Iowa, is a duly organized municipality within Dallas County; AND,
WHEREAS, the Waukee City Council must designate official depositories annually; AND,
WHEREAS, pursuant to the City’s investment policy, the City will keep all deposits and investments,
within an adjacent county area; AND,
WHEREAS, the City Finance Director is authorized to establish an account with UBS Financial
Services Inc. to be able to accept the marketable securities, as the named beneficiary of the Duane and
Doris Winters 1986 Trust; AND:
WHEREAS, the City of Waukee will be utilizing the UBS Financial Services for a limited time to
accept and liquify the marketable securities.
NOW THEREFORE BE IT RESOLVED that the City Council of Waukee, Iowa does hereby
approve UBS Financial Services Inc. as an official depository until June 30, 2026, and approve the
Resolution of Governing Body agreement, authorizing the City Administrator and Finance Director to
sign on behalf of the City, on this 3rd day of November, 2025.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg
Chris Crone
Rob Grove
Anna Bergman Pierce
Ben Sinclair