HomeMy WebLinkAboutCC RES 03-109RESOLUTION NO. 03-109
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT,
CALIFORNIA, AUTHORIZING THE INVESTMENT OF MONIES
IN THE LOCAL AGENCY INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the Statues 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 does hereby find that the 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, is in the best interests of the City
of Palm Desert.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby authorize the
deposit and withdrawal of 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, and verification by the State Treasurer's Office of all banking information
provided in that regard.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF PALM DESERT,
CALIFORNIA, 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 S. Gibson
City Treasurer
Jose Luis Espinoza Thomas W. Jeffrey
Assistant Fi ance Director
,.nCz/—
Deputy City Treasurer
riao-maz JAf,j1
PASSED, APPROVED, AND ADOPTED, by the City Council of the City of Palm Desert,
Riverside County, California, at its regular meeting held on this 23rd day of October, 2003, by the
following vote, to wit:
AYES: CRITES, KELLY, SPIEGEL, and BENSON
NOES: NONE
ABSENT: FERGUSON
ABSTAIN: NONE
JEAN M. BENS ,-MAYOR
ATTEST:
RAHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA