HomeMy WebLinkAboutCC Res 3492 1985-06-25
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RESOLUTION NUMBER ~~S?~
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SEAL BEACH, CALIFORNIA, PROVIDING
FOR THE INVE~TM[NT 0, CITY FUNDS IN A
REINVESTMENT AGREEMENT WITH SECURITY
PACIFIC CORPORATION
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
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WHEREAS, in order for the City to meet its lawful obligations
in fiscal year 1985/86, it has authorized the issuance
of Tax and Revenue Anticipation Notes; and
WHEREAS, the City intends to invest the proceeds of such notes
in instruments that will provide a return of interest
earnings to the City; and
WHEREAS, there has been presented to this Council a form of Investment
Agreement by and between the City and Security Pacific
Corporation.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Seal Beach, California, as follows:
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Section 1. The Council hereby authorizes the Finance Director
to enter into an Investment Agreement, on behalf of
the City, with Security Pacific Corporation in substantially
the form presented to the Council and to execute such
documents and exercise such review as may be appropriate
in order to consummate such an Agreement.
Section 2. This resolution shall take effect from and after its
passage and adoption.
PASSED, APPROVED AND ADOPTED by the City Coun~iJu9f the C~ty f
Seal Beach at a meeting thereof held on the ~ da of ____.~,.
1985, by the following vot .
AYES: Counci lmembers
NOES: Councilmembers
ABSENT: Councilmembers
f}r~';~
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STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF SEAL BEACH
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ATTEST:
I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California,
do hereby certify that th~~O~~ing resolution is the original
copy of Resolution Number ~ on file in the office of the City
Clerk, ed, approved an a opted by the City Council of the
City 0 Se 1 Beach at a regular adjourned meeting thereof held on thea2~~,
day of , 1985.
9:..~.ml d
ity Clerk I