HomeMy WebLinkAboutCC RES 2016-40RESOLUTION NO. 2016-40
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, the Local Agency Investment Fund is established in the State
Treasury under Califomia Govemment 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 hereby finds that the deposit and withdrawal of
money in the Local Agency Investment Fund, in accordance with Califomia Govemment
Code Section 16429.1 et. seq., for the purpose of investment as provided therein, is in
the best interests of the City of Palm Desert.
NOW THEREFORE, BE IT RESOLVED, that the City Council hereby authorizes
the deposit and withdrawal of City of Palm Desert monies in the Local Agency
Investment Fund in the State Treasury, in accordance with California Government Code
Section 16429.1 et. seq., for the purpose of investment as provided therein.
BE IT FURTHER RESOLVED, as follows:
Section 1. The following City of Palm Desert officers holding the titles specified
hereinbelow or their successors in office are each hereby authorized to order the
deposit or withdrawal of monies 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 this resolution and the transactions contemplated hereby:
Janet M. Moore Jose Luis Espinoza Thomas J. Metz
Director of Finance & Assistant Finance Director Deputy City Treasurer
City Treasurer
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r‘rmain in full force
Section 2. This resolution shall and effect until rescinded by
the City Council by resolution, and a copy of the resolution rescinding this resolution is
filed with the State Treasurer's Office.
RESOLUTION NO. 2016-40
PASSED AND ADOPTED, by the City Council of the City of Palm Desert,
County of Riverside, State of Califomia, at its regular meeting held on this 26th day of
May, 2016, by the following vote, to wit:
AYES: HARNIK, JONATHAN, TANNER, WEBER, & SPIEGEL
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
Bv_
RT A. SPIEEL, M Y R
ATTEST:
RH E l . KLAS , CITY CLERI
CITY OF PALM DESERT, CALIFORNIA
APPROVED AS JO FORM:
ITY ATTORNEY
BEST, EST & K'IEGER, QLP