HomeMy WebLinkAboutCC AG PKT 2007-06-25 #J
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AGENDA REPORT
DATE:
June 25, 2007
TO:
Honorable Mayor and City Council
THRU:
David N. Carmany, City Manager
FROM:
Greg Beaubien
Interim Director of Administrative Services/Treasurer
SUBJECT:
Officers Authorized to Transact with LAIF
SUMMARY OF REQUEST:
Staff requests Council to update the officers authorized to transact with the Local Agency
Investment Fund (LAIF).
BACKGROUND:
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The City has invested monies with the Local Agency Investment Fund (LAIF) since the
passage of resolution number 2638 dated January 24, 1977. The last update provided to
LAIF was on September 22, 2003. Due to recent changes in Staff positions, an update of
officers authorized to transact with LAIF on behalf of the City is required. The attached
resolution supersedes resolution number 5481.
RECOMMENDATION:
That Council update the list of officers authorized to transact with LAIF on behalf of the
City.
'~"i:~.,L .
Greg Beau . en
Interim Dire or of Administrative Services/Treasurer
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David N. Carmany
City Manager
Agenda Item ~T
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RESOLUTION NUMBER
A RESOLUTION OF THE CITY COUNCIL OF TIlE CITY OF
SEAL BEACH AUTHORIZING INVESTMENT OF MONIES IN
THE LOCAL AGENCY INVESTMENT FUND AND
SUPERSEDING RESOLUTION NUMBER 5481.
WHEREAS, PUIBuantto Chapter 730 or the sla\Utes or 1976 Section 16429,1 was added
to the California Government Code to create a Local Agency InvesIment Fund in the
Slate Treasury for the deposi1 of money of a local agency for pUlpOles or invesnnont by
the State Treasury for the deposit of money of a local agency ror putpases or investment
by the Slate Treasurer, and
WHEREAS, the Ci1y Council of the City of Seal Beach does hereby find thai the deposit
and withdrawal of money in the Local Agency Investment Fund in accordance with the
provisionl of Section 16429,1 of the Government Code for the pUlpOle for investment as
stated 1herein as in the heal intereSlS of the City of Seal Beach,
NOW THBREPORE, BE IT REBOL VED, that the City Council of Seal Beach does
hereby au1horize the deposit and withdrawal of the CIty of Seal Beaoh monies in the
Local Agency InvesIment Fund in the Slate Treasury in acoordance with the provisionl of
Section 16429.1 of the Govemmen1 Code for the PUIpOIC of investment as stated therein,
and verifioation by the State Treasurer'l Office of all banking infonnation provided in
1hat regard.
BE IT FURTHER RESOLVED, tha11he following City of SoaI Beacb officen or their
auocesson in office shall be authorized to order the deposit or withdrawal of monies in
1he Local Agency Investmen1 Fund:
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Greg Beaubien
Interim Director of Administrative
ServiceslI'reasurer
T....a Gonzaloz
Administrative Services
Manager
David N. Cannany
City Manager
PASSED, APPROVED AND ADOPTED by the City Council of Seal Beaoh, a1 a
moc1ing horeofheld on the 25th day of June. 2007 by the following voIe:
AYES: COUNCJLMBMBERS
NOES: COUNClLMBMIIBRS
ABSENT: COUNClLMBMIIBRS
A TI1lST:
Mayor
CIty Clerk
STATBOFCALlFORNIA }
COUNTY OF ORANGE I SS
CITY OF SEAL BEACH I
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I, Linda Devine, City Clm for the City of Seal Beach, Caliromia, do hereby oertify 1hat
the foregoing resolutionl is the original oopy of Resolution Numbor_ on file in the
office of the City Clerk, passed, approved and adopted by 1he City Counoil or the City of
Seal Beaoh at a regular meeIins horeofheld on the 25th day of June. 2007.
City Clerk