AgdaPkt 2013-08-26 - Laserfiche WebLink

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6.2.A. - Page 3 ATfACHMENT 1 RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL AGENCY INVESTMENT FUND WHEREAS, pursuant to Chapter 730 of the Statutes of 1976, Section 16429.1 was added to the California Government Code to create a Local Agency Investment Fund in the State Treasury for the deposit of money of a local agency for purposes of investment by the State Treasurer; and WHEREAS, this Council does hereby find that the deposit and withdrawal of money in the Local Agency Investment Fund in accordance with the provisions of Section 16429.1 of the Government Code for the purposes of investment as stated therein is in the best interests of the City of Redwood City; and WHEREAS, the Council of the City of Redwood City passed Resolution No. 14492 on January 27, 2003, authorizing certain City officers to order the deposit and withdrawal of monies; and WHEREAS, the Council desires to rescind Resolution No. 14492 and adopt this Resolution instead. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS FOLLOWS: 1. The City Council does hereby rescind Resolution No. 14492. 2. The City Council does hereby authorize the deposit and withdrawal of City of Redwood City monies in the Local Agency Investment Fund in the State Treasury in accordance with the provisions of Section 16429.1 of the Government Code for the purpose of investment as stated therein, and verification by the State Treasurer's Office of all banking information provided in that regard. 3. The following City officers or their successors in office shall be authorized to order the deposit orwithdrawal of monies in the Local Agency Investment Fund: Brian Ponty Sylvia B. Peters Treasurer (Director of Finance) Deputy Treasurer (Management Analyst) PASSED AND ADOPTED this_day of August, 2013. * * * ATTY/RE50.2890/LOCAL AGENCY INVESTMENT FUND-CITY REV:08-02-13 VR