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04/092012 ORIGINAL SUCCESSOR AGENCY RESOLUTION NO. SA 12-06 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS THE SUCCESSOR AGENCY TO THE CITY OF REDWOOD CITY REDEVELOPMENT AGENCY AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL AGENCY INVESTMENT FUND WHEREAS, Pursuant to Chapter 730 of the statues 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 the money of a local agency for the purposes of investment by the State Treasurer; and WHEREAS, the Council of the City of Redwood City 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 purpose of investment as stated therein as in the best interests of the City of Redwood City. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redwood City as the Successor Agency to the City of Redwood City Redevelopment Agency as follows: 1. That the Council of the City of Redwood City as the Successor Agency to the City of Redwood City Redevelopment Agency does hereby authorize the deposit and withdrawal of the monies of the Successor Agency to the Redwood City Redevelopment Agency in the Local Agency Investment Fund in the State Treasury in accordance with the provisions of Section16429.1 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. 2. That the following City officers or their successors in office shall be authorized to order the deposit or withdrawal of monies in the Local Agency Investment Fund. � � �� Brian Ponty Sylvia B. Peters Director of Finance/ Treasurer Adm. AssistanU Dep. Treasurer :.. PASSED AND ADOPTED this 10th day of April, 2012. ATTY/RES0.2220/LIAF SUCCESSOR AGENCY RESO. # SA 12-OB REV:04-02-12 MUFF # 451