HomeMy Public PortalAboutResolution 12-4793-SA Authorizing Investment of Monies in the Local Agency Investment1
RESOLUTION NO. 12- 4793 -SA
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMPLE CITY, ACTING IN ITS CAPACITY
AS SUCCESSOR AGENCY TO THE TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY,
AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL AGENCY INVESTMENT FUND AND
APPROVING OFFICERS AUTHORIZED TO TRANSACT BUSINESS WITH THE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the statutes of 1976, Section 16429.1 was added to the
California Government Code to create a Local Agency Investment Fund in the State Treasury for the
deposit of money of a local agency for purposes of investment by the State Treasurer; and
WHEREAS, the City Council, acting in its capacity as successor agency to the Temple City
Community Redevelopment Agency, does hereby find that deposit and withdrawal of money in the Local
Agency Investment Fund in accordance with the provisions of' Section 16429.1 of the Government Code
for the purpose of investment as stated therein as in the best interests of the City of Temple City in its
capacity as successor to the former Redevelopment Agency.
NOW, THEREFORE BE IT RESOLVED, that the City Council, acting in its capacity as successor
agency to the Temple City Community Redevelopment Agency, does hereby authorize deposit and
withdrawal of those monies held by the City in said capacity to and from the Local Agency Investment
Fund in the State Treasury in accordance with the provisions of Section 16429.1 of the Government Code
for the purpose of investment as stated therein, and verification by the State Treasurer's Office of all
banking information provided in that regard.
BE IT FURTHER RESOLVED, that the following City of Temple City officers or their successors
in the office shall be authorized to order the deposit or withdrawal of monies in the Local Agency
Investment Fund:
City Manager
City Clerk
Parks and Recreation Director
Administrative Services Director
SECTION 1 . The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED on this 7th day of February, 2012.
ATTEST:
I hereby certify that the foregoing resolution, Resolution No. 12- 4793 -SA, was duly passed, approved and
adopted by the City Council of the City of Temple City at a regular meeting held on the 7th day of February
2012 by the following vote:
AYES: Councilmember -Blum, Sternquist, Vizcarra, Yu, Chavez
NOES: Councilmember -None
ABSENT: Councilmember -None
ABSTAIN: Councilmember -None
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City Clerk
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