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HomeMy WebLinkAboutReso 61-17 Investment Transaction OfficersRESOLUTION NO. 61 A 7 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MORRO BAY, CALIFORNIA DESIGNATING AND AUTHORIZING INVESTMENT TRANSACTION OFFICERS THE CITY COUNCIL City of Morro Bay, California WHEREAS, the City of Morro Bay has cash in its possession that exceeds the amount needed for day-to-day transactions; and WHEREAS, the City of Morro Bay has an obligation to its citizens to effectively and safely manage that money while optimizing its earning potential; and WHEREAS, it is necessary to designate, the authority to invest the City's funds; and via Resolution, the transaction officers who have WHEREAS, on July 14, 2008, the Morro Bay City Council adopted Resolution No. 43-08, which established the transaction officers with the authority to invest the City's funds; and WHEREAS, with this Resolution, the Morro Bay City Council is rescinding Resolution No. 43- 08 in its entirety; and WHEREAS, on January 11, 2011, the Morro Bay City Council adopted Resolution No. 02-11, which established the transaction officers with the authority to invest the City's funds; and WHEREAS, with this Resolution, the Morro Bay City Council is rescinding Resolution No. 02- 11 in its entirety; and WHEREAS, on December 13, 2016, the Morro Bay City Council adopted Resolution No. 80- 16, which established the transaction officers with the authority to invest the City's funds; and WHEREAS, with this Resolution, the Morro Bay City Council is rescinding Resolution No. 80- 16 in its entirety; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California: 1. Resolutions Nos, 43-08, 02-11 and 80-16, along with any and all resolution relating to designating and authorizing investment transaction officers are rescinded in their entirety and replaced with this Resolution; and 2. The individuals listed below are designated as transaction officers who are authorized to open and close investment accounts within the scope of the City's Investment Policy: Scott Collins City Manager Je����iferCallaL�ay Finaii%e Dire%tur/City Treasurer Sandra Martin Budget/Accounting Manager Valerie Webb Senior Accounting Technician Resolution No. 61-17 Page 2 of 2 PASSED AND ADOPTED, by the City Council of the City %J Morro Bay, at a regular meeting thereof held on the 14th day of November 2017, by the following vote: AYES: NOES: ABSENT: ABSTAIN Irons, Davis, Headding, Makowetski, McPherson None None None E IRONS, Maydr ATTEST ANA SWANSON, City Clerk