HomeMy WebLinkAboutReso 60-17 LAIF Transaction OfficersRESOLUTION NO. 60-17
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
AUTHORIZING INVESTMENT OF MONIES IN THE
LOCAL AGENCY INVESTMENT FUND,
DESIGNATING TRANSACTION OFFICERS;
AND RESCINDING RESOLUTION NO. 37-17
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, the Local Agency Investment Fund is established in the California State
Treasury under Government Code section 16429.1 et seq. for the deposit of money of a local
agency for purposes of investment by the California State Treasurer; and
WHEREAS, the City Council hereby finds the deposit and withdrawal of money in the
Local Agency Investment Fund in accordance with Government Code section 16429.1 et seq.
for the purpose of investment as provided therein is in the best interests of the City of Morro
Bay; and
WHEREAS, on June 21, 2017, the City Council adopted Resolution No. 37-17 to
reaffirm Investment of Monies in the Local Agency Investment Fund and designate transaction
officers.
NOW; THEREFORE, BE IT RESOLVED
Section 1. The City Council hereby authorizes the deposit and withdrawal of City monies in the
Local Agency Investment Fund in the California State Treasury (L/AIF), in accordance with
Government Code section 16429.1 et seq. for the purpose of investment as provided therein.
Section 2. The following City employees holding the titles specified herein below or their
successors in office are hereby authorized, with the authorization of any two of them, to order
the deposit or withdrawal of monies in LAIF and may execute and deliver any and all documents
necessary or advisable in order to effectuate the purposes of this resolution and the
transactions contemplated hereby:
Scott Collins
Jennifer Callaway
City Manager
Sandra Martin
Laurie Goforth
Dana Swanson
Lori Kudzma
Finance Director
Budget /Accounting Manager
Human Resources Analyst
City Clerk
Deputy City Clerk
Section 3. Resolution No. 37-17 and any and all resolutions relating to investing funds through
LAIF ale lesl:lllded alld leplal:ed III t,IICII ellllletlCJ VUItII the paJJage of tIIIJ RCJUIIIIIoII.
Section 4. This resolution shall remain in full force and effect until rescinded by the City Council
by resolution and a copy of the resolution rescinding this resolution is filed with the California
State Treasurer's Office.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular
meeting held on the 14th day of November 2017 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN
ATTEST:
Irons, Davis, Headding, Makowetski, McPherson
None
None
None
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SWANSON, City Clerk