HomeMy WebLinkAboutCC AG PKT 2003-01-27 #G AGENDA REPORT op 4
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DATE: January 27, 2003
A l
TO: Honorable Mayor and City Council R o
THRU: John B. Bahorski, City Manager
FROM: Pamela Arends -King, Director of Administrative Services/Treasurer
SUBJECT: Update City's authorization to invest monies with LAIF
SUMMARY OF REQUEST:
Staff requests Council update the City's authorization to invest monies with the Local
Agency Investment Fund by adopting the attached resolution.
BACKGROUND:
The City has invested monies with the Local Agency Investment Fund (LAIF) since the
passage of resolution number 2638 dated January 24, 1977. At this time LAIF is
updating their records and requests a new resolution with language they have specifically
requested. The attached resolution supersedes resolution number 2638 and contains the
required language LAIF requested.
RECOMMENDATION:
Staff recommends Council update the City's authorization to invest monies with the
Local Agency Investment Fund by adopting the attached resolution.
Pamela Arends -King
Director of Administrative Services/Treasurer
/ ,
Joh r 'S . Bahorski
p /y Manager
Agenda Item G
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