Resolution No. 3843, Designating Treasurer and Amending Resolution No. 3748
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Item Number: 10b_reso 1
Meeting Date: December 9, 2025 2
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RESOLUTION NO. 3843
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A RESOLUTION
of the Port Commission of the Port of
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Seattle repealing and replacing Resolution
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No. 3476, and amending Exhibit B
to
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Resolution No. 3748, the Port of Seattle
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Statement of Investment Policy.
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WHEREAS,
pursuant to RCW 53.36.01, on December 11, 2001, the Port Commission
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of the Port of Seattle adopted Resolution No. 3476, appointing the Chief Financial Officer as Port
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Treasurer; and naming Daniel R. Thomas, the then Chief Financial Officer; and
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WHEREAS,
Resolution No. 3476 provides for a bond in the amount of $750,000.00 to
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protect the Port against loss; and
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WHEREAS,
Exhibit B to Resolution No. 3748, the Port of Seattle Statement of
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Investment Policy designated Port of Seattle, Dan Thomas, Chief Financial Officer as the
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“authorized individual.”
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NOW, THEREFORE, BE IT RESOLVED,
by the Port Commission of the Port of
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Seattle, as follows:
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SECTION 1.
Resolution No. 3476 is hereby repealed. 28
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SECTION 2.
The Port Commission hereby designates the Port's Chief Financial
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Officer, their successor in function, or their delegate having experience in treasury
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operations to act as the Port Treasurer. The Port Treasurer shall perform all functions
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identified by law as those to be performed by the "treasurer" of the Port, including, but not
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necessarily limited to, maintaining custody of Port funds (through a qualified public
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depositary) and investment of fund balances .
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SECTION 3.
The Treasurer of the Port shall provide a bond, or insurance in lieu of
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a bond issued by a surety or insurance
company authorized to do business in the State of
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Washington, in an amount equal to $1,000,000.00 in order to protect against loss. The cost
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of the surety bond or insurance shall be paid by the Port. The amount and terms of the surety
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bond or insurance policy shall be reviewed each year by the Port Commission for adequacy
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and size.
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SECTION 4.
The Chief Financial Officer, in the capacity of Treasurer, further, is
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authorized to make interfund transfers between funds held and maintained by the Port.
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Resolution No. 3843, Designating Treasurer and Amending Resolution No. 3748
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SECTION 5.
Exhibit B to Resolution No. 3748 the Port of Seattle Statement of
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Investment Policy shall be updated to designate the “authorized individual” as the Port of
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Seattle's Chief Financial Officer, their successor in function, or their delegate having
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experience in treasury operations.
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SECTION 6. This Resolution shall become effective immediately upon its adoption
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and approval by a majority vote of the Port Commission.
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ADOPTED by the Port of Seattle Commission at a duly noticed public meeting thereof, 58
held this 9 day of December, 2025, and duly authenticated in open session by the signatures of the 59
commissioners voting in favor thereof and the seal of the Commission. 60
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Port of Seattle Commission 72
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