HomeMy WebLinkAboutReso 65-24 Updating Authorized LAIF SignersRESOLUTION NO. 65-24
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
TO RESCIND RESOLUTION NO. 49-21,
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. 49-21, dated June 22, 2021, 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 Resolution 49-21 related to investing funds through LAIF is rescinded and replaced in its entirety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
Finance Director/Treasurer
Accounting Manager
Fiscal Analyst
3. For the purposes of internal controls, the City will require written approval of one of these
authorized representatives prior to initiation 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 241" day of September 2024 by the following vote:
AYES:
Wixom, Barton, Edwards, Landrum
NOES:
None
ABSENT:
Ford
ABSTAIN:
None
RECUSE:
None
CARLA WIXOM, Mayor
ATTEST:
2��
DAN SWANSON, City Clerk