Title
Approval of Authorized Signers for County Investment Accounts
Recommended Action
I move that Council approve the individuals authorized to sign on the County of Los Alamos new Investment accounts as presented in the attachment, to be effective on May 5, 2026.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as presented.
Body
Article IV of the County Charter requires formal Council action to approve all individuals authorized to sign County bank and investment accounts. The County is looking to diversify bond proceeds to investments that balance rate of return, low risk, and liquidity needs. The proposed certificate of deposits amounts and the interest rates offered by UMB bank are: $2 million for 6 months at 3.48% and $3 million for 12 months at 3.47%.
This action adds Anne Laurent, County Manager, to the new UMB accounts.
This action adds Helen M. Perraglio, Administrative Service Director, to the new UMB accounts.
This action adds Mrs. Melissa Dadzie, Chief Financial Officer, to the new UMB accounts.
This action adds Beatrice N. Odezulu, Deputy Chief Financial Officer, to the new UMB accounts.
This action adds David Griego, Accounting Operations Manager, to the new UMB accounts.
Alternatives
If this is not approved there could be a negative impact on investment diversification with the risk of having the bulk of the GRT Bond proceed in one financial institution.
Fiscal and Staff Impact/Planned Item
There is no fiscal impact related to this action. There is minimal impact to accomplish the opening of the CD account and establishing signature cards for the new UMB bank accounts.
Attachments
A - Authorized Signers on County Investment Accounts at UMB Bank May 5, 2026