HomeMy WebLinkAbout11-45 - Authorizing Investment of Monies in Local Agency Investment Fund1
1
1
RESOLUTION NO. 11-45
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, AUTHORIZING
INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
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, the City 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 purpose of investment as stated therein as in the
best interests of the City of Costa Mesa.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby
authorize the deposit and withdrawal of City of Costa Mesa 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.
BE IT FURTHER RESOLVED, that the following City of Costa Mesa officers or their
successors in office shall be authorized to order the deposit or withdrawal of monies in the
Local Agency Investment Fund:
Bobby Young
Finance & I.T. Director/Treasurer
.1 I
Colleen O'Donoghue
Assistant Finance Director
MIR
Judy Vickers
Revenue Supervisor
ATTEST:
"" �-'j � �'
Julie olcik, City derk
this 15th day of November, 2011.
Gary Monahan, Md yor
APPROVED AS TO FORM:
Thomas'bLjade, bity Attorney
1
1
1
1
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF COSTA MESA )
ss
I, JULIE FOLCIK, City Clerk of the City of Costa Mesa, DO HEREBY CERTIFY
that the above and foregoing is the original of Resolution No. 11-45 and was duly
passed and adopted by the City Council of the City of Costa Mesa at a regular meeting
held on the 15th day of November, 2011, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: RIGHEIMER, BEVER, LEECE, MENSINGER
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: MONAHAN
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 16th day of November, 2011.
(SEAL)
JUOt FOLCIK, bTY CLERK