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01/27/03 <br />O R I G I N A L <br />RESOLUTION NO. <br />RESOLUTION AUTHORIZING INVESTMENT OF CITY OF <br />REDWOOD CITY MONIES IN LOCAL AGENCY INVESTMENT <br />FUND <br />WHEREAS, pursuant to Chapter 730 of the Statutes of 1976, Section 16429.1 <br />was added to the California Government Code to create a Local Agency Investment <br />Fund in the State Treasury for the deposit of money of a local agency for purposes of <br />investment by the State Treasurer; and <br />WHEREAS, this Council does hereby find that the deposit and withdrawal of <br />money in the Local Agency Investment Fund in accordance with the provisions of <br />Section 16429.1 of the Government Code for the purposes of investment as stated <br />therein is in the best interests of the City of Redwood City. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY, AS FOLLOWS: <br />1. The City Council does hereby authorize the deposit and withdrawal of City <br />of Redwood City monies in the Local Agency Investment Fund in the State Treasury in <br />accordance with the provisions of Section 16429.1 of the Government Code for the <br />purpose of investment as stated therein, and verification by the State Treasurer's Office <br />of all banking information provided in that regard. <br />2. The following City officers or their successors in office shall be authorized <br />to order the deposit or withdrawal of monies in the Local Agency Investment Fund: <br />Brian Ponty, Finance Director Treasurer <br />Sandy Jennings, Administrative Assistant Deputy Treasurer <br />F:Atty /Reso /Reso.1358 <br />011403 <br />