HomeMy WebLinkAboutCC AG PKT 2007-12-10 # L
,
.
AGENDA REPORT
DATE:
December 10, 2007
TO:
Honorable Mayor and City Council
TI!RU:
David N. Carmany, City Manager
FROM:
--
Robbeyn Bird, CPA
Director of Administrative Servicestrreasurer
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).
e
BACKGROUND:
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 June 25, 2007. 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 5559.
RECOMMENDATION:
That Council update the list of officers authorized to transact with LAIF on behalf of the
City.
~~
Robbeyn ml
Director of Administrative Servicestrreasurer
e
t7-:., -
David N. carmJy
City Manager
Agenda Item L
.
RESOLUTION NUMBER
A RESOLUTION OF THE CITY COUNCn. OF THE CITY OF
SEAL BEACH AUTHORIZING INVESTMENT OF MONIES IN
THE LOCAL AGENCY INVESTMENT FUND AND
SUPERSEDING RESOLUTION NUMBER 5559.
WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was added
to the Califomia Govemment 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 Treasury for the deposit of money of a local agency for purposes of investment
by the State Treasurer; and
WHEREAS, the City Council of the City of Seal Beach 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 for investment as
stated therein as in the best interests of the City of Seal Beach.
NOW THEREFORE,BE IT RESOLVED, that the City Council of Seal Beach does
hereby authorize the deposit and withdrawal of the City of Seal Beach 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 Seal Beach ofticers or their
successors in office shall be authorized to order the deposit or withdrawal of monies in
the Local Agency Investment Fund:
e
Robbeyn Bird
Director of Administrative
ServicesITreasurer
Teresa Gonzalez
Administrative Services
Manager
David N. Carmany
City Manager
PASSED, APPROVED and ADOPTED by the City Council of the City of Seal Beach at
a regular meeting held on the 10th day of December ,2007 by the following vote:
AYES: Councilmember
NOES: Councilmember
ABSENT: Councilmember
ABSTAIN: Councilmember
ATTEST:
Mayor
City Clerk
STATEOFCALlFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
e
I, Linda Devine, City Clerk of the City of Seal Beach, California, do hereby certify that
the foregoing resolution is the original copy of Resolution Number _ on file in the
office of the City Clerk, passed, approved, and adopted by the City Council of the City of
Seal Beach at a regular meeting thereof held on the 10th day of December, 2007.
City Clerk