HomeMy WebLinkAboutReso 49-21 Revised LAIF Transaction OfficersRESOLUTION NO. 49-21
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
TO RESCIND RESOLUTION NO. 60-17,
REAFFIRM INVESTMENT OF MONIES IN THE
LOCAL AGENCY INVESTMENT FUND, DESIGNATE
TRANSACTION OFFICERS AND APPROVE POLICY
REQUIRING APPROVAL PRIOR TO ANY LAIF TRANSACTION
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, Resolution No. 60-17, dated November 14, 2017, authorized the City of Morro Bay to
continue investing funds with the State of California's Local Agency Investment Fund (LAIF); and
WHEREAS, the officers, then authorized to order deposit and withdrawal of monies, and affect
changes to the account, have changed.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California as
follows:
1. Resolution No. 60-17 relating to investing funds through LAIF is rescinded and replaced in its
entirety with the passage of this Resolution; and
2. The City will continue investing with LAIF, and designates the following officers to deposit and
withdraw funds, and affect changes to the account:
City Manager
Assistant City Manager -Administrative Services Director/Treasurer
Finance Manager
Senior Accounting Technician
3. For purposes of internal controls, the City will require written approval of one of these authorized
representatives prior to initiating a deposit, withdrawal of funds or any other change in the account
by another one of the designated representatives.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting thereof,
held on the 22nd day of June 2021, by the following vote:
AYES' Headding, Addis, Barton, Davis, Heller
NOES@ None
ABSENT: None
ABSTAIN: None
ATTEST:
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DANA SWANSON, City Clerk