HomeMy Public PortalAbout2016.098 (05-17-16)RESOLUTION NO. 2016.098
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD TO
EXECUTE THE DISCRETIONARY MANAGEMENT AGREEMENT WITH FTN
FINANCIAL MAIN STREET ADVISORS
WHEREAS, the Treasurer is responsible for the City of Lynwood's cash flow
whereby funds are transferred from various accounts to meet operating obligations; and
WHEREAS, the Treasurer has prepared guidelines for a prudent investment
policy; and
WHEREAS, the policy contains certain investment criteria; and
WHEREAS, the basic premise of the investments is to increase the City's cash
flow to assure that the City's cash needs are met.
NOW, THEREFORE, THE CITY COUNCIL OF LYNWOOD DOES HEREBY FIND,
ORDER AND RESOLVE AS FOLLOWS:
Section 1. That the Discretionary Management Investment attached hereto as
Exhibit "A" is hereby approved, with revision in a form subject to the approval of the City
Attorney.
Section 2. This Resolution shall go into effect immediately upon its adoption.
Section 3. The City Clerk shall certify as to the adoption of this City Council
Resolution.
PASSED, APPROVED and ADOPTED this 17th day of May, 2016.
ATTEST:, �-
Mari i' honez, ity Clerk
APP OVED AS TO F 57A" M:
David A. arcia, City Attorney
Edwin Hernandez, Mayor
APPROV ED AS TO CONTENT: ^
s
J. Arnoldo Beltran, City Manager
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, do hereby certify
that the foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 17th day of May, 2016, and passed by the
following vote:
AYES: COUNCIL MEMBERS ALATORRE, SANTILLAWBEAS, SOLACHE,
CASTRO AND HERNANDEZ
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
aria Quinonez, tify Clerk
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, and the Clerk of
the City Council of said City, do hereby certify that the above foregoing is a full, true and
correct copy of Resolution No. 2016.098 on file in my office and that said Resolution
was adopted on the date and by the vote therein stated. Dated this 17th day of May,
2016.
Maria Quinonez; City Clerk
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