HomeMy WebLinkAboutCC RES 81-161RESOLUTION N0. 81- 161
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A RESOLUTION OF THE CITY COUMCIL OF THE CITY OF PALM DESERT,
CALIFORNIA, AUTHORIZING INVESTMENT OF CITY OF PALM DESERT
MONIES IN LOCAL AGENCY INUFSTMENT FUND.
IdHEREAS, purSuant to Chapter 730 of the Statutes of 1976 Section
16429.1 was added to the California Government Code to create a Loca1 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,
l4HEREAS, the City Council does hereby find that the deposit and
withdrawal of money in the Local Agencv Investment Fund in accordance with the
provisions of Section 16429.1 of the Government Code for the purposes of invest-
ment as stated therein as in the best interests of the City of �alm Desert.
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of
Palm Desert, California, does hereby authorize the deposit and withdrawal of City
of Palm Desert monies in 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.
PE IT FURTHER RESOLVED that the following City officers or their
successors in office shall be authorized to order the deposit or withdrawal of
monies in the Local Agency Investment Fund:
Paul E. B ers
Name
Cit Treasurer
Title
Diane L. Thornbur
(Name
De ut Cit Treasurer
(Title
PASSED, APPROVED and ADOPTED this 17th day of �ecember
1981, by the following vote, to wit:
AYES: i�cPherson, Newbrander, Puluqi, Snyder & Wilson
NOES : None
ABSENT: None
ABSTAI N : None
TTFST:
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S. ROY WILSON, MAYOR
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SHEILA R. GILI�I, CITY C
CITY OF PALM DESERT, CALIF