HomeMy WebLinkAboutReso 80-16 Designating Investment Transaction OfficersRESOLUTION NO. 80-16
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
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay,
California:
1. Resolutions Nos. 43-08 and 02-11, 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and authorizing investment transaction officers are rescinded in their entirety and replaced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:
David Buckingham City Manager
Craig Schmollinger Finance Director/City Treasurer
Sandra Martin Budget/Accounting Manager
Valerie Webb Senior Accounting Technician
Resolution No. 80-16
Page 2 of 2
PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular meeting
thereof held on the 131h day of December 2016, by the following vote:
AYES: Irons, Davis, Headding, Makowetski, McPherson
NOES: None
ABSENT: None
ABSTAIN: None
LfLaI_�o
MMIRMAT •
ATTEST:
S�
NA SWANSON, City Clerk