DATE: February 25, 2020
TO: Geologic Hazard Abatement District Board
FROM: GHAD Manager and GHAD Treasurer
SUBJECT
Title
Resolution Authorizing the Change in Treasurer Designation from Watermark Asset Management, Inc. to GHAD Treasurer, Inc. and Authorizing the Board Chair to Execute a Contract with GHAD Treasurer, Inc.
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RECOMMENDATION
Recommendation
Staff recommends that the Hayward GHAD Board of Directors adopt Resolution 20-02
authorizing the change in treasurer designation from Watermark Asset Management, Inc. to GHAD Treasurer, Inc., in addition to a contract of services between GHAD Treasurer, Inc. and Hayward GHAD.
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SUMMARY
The Board of Directors adopted Resolution 16-01 appointing Watermark Asset Management, Inc. as Treasurer of the Hayward GHAD. Watermark Asset Management was acquired by CAPTRUST and formed GHAD Treasurer, Inc to separate the functions of the GHAD Treasurer and investment manager. Resolution 20-02 is provided to formally change the name of the treasurer and approve a contract for treasurer and investment services.
ATTACHMENTS
Attachment I Staff Report and Resolution