HomeMy WebLinkAboutRES 2022-089RESOLUTION NO. 2022-89
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, AUTHORIZING THE INVESTMENT OF MONIES
IN THE RIVERSIDE COUNTY TREASURER'S POOLED INVESTMENT
FUND AND IN THE LOCAL AGENCY INVESTMENT FUND AND
RESCINDING RESOLUTIONS NO. 2022-03 AND 2022-18
WHEREAS, pursuant to California Government Code Sections 270001. and
27000.1 (b), the Riverside County Treasurer is authorized to invest or reinvest the monies
of local agencies in the count treasury, and to hold such monies in trust; and
WHEREAS, The Local Agency Investment Fund is established in the State
Treasury under Government Code Section 16429.1 et. seq., for the deposit of money of
a local agency for purposes of investment by the State Treasurer; and
WHEREAS, the City Council does hereby find that the deposit and withdrawal of
monies in the Riverside County Treasurer Pooled Investment Fund and the Local Agency
Investment Fund for the purpose of investment, is in the best interests of the City of Palm
Desert.
NOW, THEREFORE, BE IT RESOLVED BY THE City Council of the City of Palm
Desert, California, as follows:
SECTION 1. That the foregoing Recitals are true and correct and are incorporated
herein by this reference:
SECTION 2. The City Council does hereby authorize the deposit and withdrawal
of monies in the Riverside County Treasurer's Pooled Investment Fund and in the Local
Agency Investment Fund for the purpose of investment. The following City of Palm Desert
officers holding the titles specified hereinbelow or their successor in office are each
hereby authorized to order the deposit or withdrawal of monies in the Riverside County
Treasurer's Pooled Investment Fund and in the Local Agency Investment Fund, and may
execute and deliver any and all documents necessary or advisable in order to effectuate
the purposes of the resolution and the transaction contemplated hereby:
Veronica Chavez
Finance��,�Director &
CitV/I reasurer
Atintep
Liberty Urban
Deputy Finance Director Finance Sup rrvis
John Ramont
Deputy Finance Director
James Bounds
Resolution No. 2022-89
Page 2
SECTION 3. The City Council hereby rescinds Resolutions No. 2022-03 and
2022-18 and all other resolutions in conflict herewith.
ADOPTED ON NOVEMBER 17, 2022.
ATTEST:
ONY
CLERK
YOR
X7 ,.+0
ARN
I, Anthony J. Mejia, City Clerk of the City of Palm Desert, hereby certify that
Resolution No. 2022-89 is a full, true, and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Desert on November 17, 2022, by the
following vote:
AYES: JONATHAN, KELLY, NESTANDE, QUINTANILLA, AND HARNIK
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
RECUSED: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of Palm Desert, California, on December 12, 2022.
THONY J.
CLERK