RESOLUTION NO. 76-95

AUTHORIZING A CONTRACT FOR

INVESTMENT MANAGEMENT, CUSTODIAL AND TRUST SERVICES FOR THE CITY OF GRAND JUNCTION, COLORADO NEW HIRE POLICE AND FIRE MONEY PURCHASE DEFINED CONTRIBUTION PLANS BETWEEN THE CITY OF GRAND JUNCTION AND NORWEST INVESTMENT MANAGEMENT AND TRUST

 WHEREAS, the City of Grand Junction has solicited proposals from companies interested in providing investment management, custodial and trust services for the City of Grand Junction, Colorado New Hire Police and Fire Money Purchase Defined Contribution Plans; and

 WHEREAS, of the twenty-four responses for investment management, custodial and trust services, four companies were interviewed and evaluated by the Boards of the City of Grand Junction, Colorado New Hire Police and Fire Money Purchase Defined Contribution Plans; and

 WHEREAS, Norwest Investment Management and Trust received the highest rating by the evaluators in the areas of competitive rates of return, investment options, expenses, experience in the public sector market and service reputation.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO:

That the City Manager, on behalf of the City, is hereby authorized and directed to sign a contract with Norwest Investment Management and Trust for investment management, custodial and trust services for the City of Grand Junction, Colorado New Hire Police and Fire Money Purchase Defined Contribution Plans.

ADOPTED AND APPROVED THIS 16th DAY OF AUGUST, 1995

ATTEST:              APPROVED:

/s/ Stephanie Nye       /s/ Ron Maupin

City Clerk              President of the Council