HomeMy Public PortalAboutResolution 63-3161
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Resolution No. 63 -316
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF TEMPLE CITY AUTHORIZING THE
CITY TREASURER T. DONALD BUCHAN TO
INVEST OR REINVEST, AND TO SELL OR
EXCHANGE SECURITIES OF THE CITY OF
TEMPLE CITY AND DEPOSIT SAME IN AC-
CORDANCE WITH PROVISIONS OF GOVERN-
MENT CODE SECTIONS 53607 AND 53608
THE CITY COUNCIL OF THE CITY OF TEMPLE CITY DOES RESOLVE
AS FOLLOWS:
SECTION 1. Pursuant to Government Code Section 53607
the City Council of the City of Temple City does hereby delegate
to the City Treasurer, T. Donald Buchan, authority to invest or
to reinvest funds of the City of Temple City, or to sell or ex-
change securities so purchased.
SECTION 2. The Treasurer of the City of Temple City,
T. Donald Buchan, shall assume full responsibility for the transac-
tions referenced in SECTION 1. above until such time as the delega-
tion of authority herein given by this Resolution is revoked.
SECTION 3. The City Treasurer of the City of Temple City,
T. Donald Buchan, shall make a monthly report of all transactions
respecting the investment, reinvestment, or the sale or exchange of
securities, referenced in SECTION L. above, each and every month,
the report for the previous month to be made on or before the first
regular council meeting of each and every month.
SECTION 4. Pursuant to Government Code Section 53608,
authority is hereby granted to the City Treasurer, T. Donald Buchan,
to deposit for safekeeping any bonds, notes, bills, certificates of
indebtedness, warranties or other evidences of indebtedness/ warranties
or other evidences of indebtedness in which any money of the City of
Temple City has been invested pursuant to law, with a state or nation -
albank located within this State or with the Federal Reserve Bank of
San Francisco or any branch thereof within this State. The City
Treasurer, T. Donald Buchan, shall take from such bank a receipt for
securities deposited.
SECTION 5. Pursuant to said Government Code Section
53608 the City Treasurer, T. Donald Buchan, shall not be responsible
for securities delivered to and rece.ipted for by a bank until they
are withdrawn from the bank by the City Treasurer.
SECTION 6. The City Clerk shall forthwith upon the adoption
of this Resolution cause the City Treasurer, T. Donald Buchan, to
execute a copy of same acknowledging receipt of a copy and awareness
of its provisions.
PASSED AND ADOPTED this 14th day of October, 1963.
ATTEST:
(mac'
C erg of t e City of ✓ &'
Temp e City, California
Mayor of the City of Temple City,
California
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