HomeMy Public PortalAbout2011.005 - LPFA (02-01-11) RESOLUTION NO. 2011.005
A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE AUTHORITY OF THE CITY
OF LYNWOOD TO EXECUTE THE DISCRETIONARY MANAGEMENT AGREEMENT
WITH MAIN STREET CAPITAL ADVISORS, LLC.
WHEREAS, the Treasurer is responsible for the Lynwood Public Finance
Authority's cash flow whereby funds are transferred from various accounts to meet
operating obligations; and
WHEREAS, the Treasurer is also responsible for the investment of idle cash;
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 LYNWOOD PUBLIC FINANCE AUTHORITY DOES
HEREBY FIND, PROCLAIM, ORDER AND RESOLVE AS FOLLOWS:
Section 1. That the Discretionary Management Investment attached hereto as
Exhibit "A" is hereby approved, with revisions in a form subject to the approval of the
City Attorney.
Section 2. This Resolution shall go into effect immediately upon its adoption
PASSED, APPROVED and ADOPTED this 1 day of February, 2011.
��-e�c.� �
Aide Castro, Presid
ATTEST: APPROVED AS TO CONTENT:
�
aria Quinonez, Secretary Roger L. Haley, hief Administrative
Officer
APPROVED AS TO FORM:
; .-
� .,
Fred Galante, Agency Counsel
STATE OF CALIFORNIA )
)SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of Lynwood Public Finance Authority, do hereby
certify that the foregoing Resolution was passed and adopted by the Agency at its
regular meeting held on the 1 day of February, 2011.
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
/ �
aria Quinonez, S cretary
STATE OF CALIFORNIA )
)SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Public Finance Authority, do hereby
certify that the above foregoing is a full, true and correct copy of Resolution No.
2011.005 on file in my office and that said Resolution was adopted on the date and by
the vote therein stated. Dated this 1S day of February, 2011.
aria Quinonez, Secretary