RCPDFA-6RESOLUTION NO. RCPDFA 6
A RESOLUTION OF THE RIVERSIDE COUNTY PALM DESERT
FINANCING AUTHORITY, AUTHORIZING THE INVESTMENT OF
MONIES IN THE LOCAL AGENCY INVESTMENT FUND OF THE STATE
OF CALIFORNIA
WHEREAS, the Riverside County Palm Desert Financing Authority (the "Authority") is
a joint powers authority duly organized and existing under and pursuant to Articles 1 through 4
(commencing with Section 6500), Chapter 5, Division 7, Title 1 of the California Government
Code (the "Act") and the Joint Exercise of Powers Agreement, dated as of January 1, 2002, as
amended, by and between the County of Riverside (the "County") and the Palm Desert
Redevelopment Agency, and is authorized pursuant to Article 4 of the Act to issue bonds to
provide financing for public capital improvements; and
WHEREAS, the Authority has issued its Lease Revenue Bonds (County Facilities
Projects), 2003 Series A (the "2003 Bonds"), pursuant to the Indenture, dated as of December 1,
2003 (the "2003 Indenture"), by and between the Authority and BNY Western Trust Company,
as succeeded by Wells Fargo Bank National Association, as trustee; and
WHEREAS, the Authority also has issued its Lease Revenue Bonds (County Facilities
Projects), 2008 Series A (the "2008 Bonds"), pursuant to the Indenture, dated as of December 1,
2008 (together with the 2003 Indenture, the "Indentures"), by and between the Authority and
Wells Fargo Bank National Association, as trustee; and
WHEREAS, pursuant to Chapter 730 of the statutes of 1976, Section 16429.1 was added
to the California Government Code to create the Local Agency Investment Fund ("LAIF") in the
State Treasury for the deposit of moneys of local agencies for investment by the State Treasurer;
and
WHEREAS, LAIF is among the "Permitted Investments" for the funds relating to the
2003 Bonds and the 2008 Bonds under the Indentures; and
WHEREAS, the Authority wishes, from time to time, to invest its moneys including the
funds relating to the 2003 Bonds and the 2008 Bonds, in the LAIF in accordance with the
provisions of Section 16429.1 of the California Government Code;
NOW, THEREFORE, THE RIVERSIDE COUNTY PALM DESERT FINANCING
AUTHORITY DOES HEREBY FIND, RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1. The Authority Commission, as the governing body of the Authority,
hereby finds that it is in the best interest of the Authority to deposit and withdraw moneys in
LAIF from time to time in accordance with the provisions of Section 16429.1 of the California
Government Code for the purpose of investment as stated therein.
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RESOLUTION NO. RCPDFA 6
Section 2. The deposit and withdrawal of the Authority's monies in LAIF in
accordance with the provisions of Section 16429.1 of the California Government Code from time
to time for the purpose of investment as stated therein, and verification by the State Treasurer's
Office of all banking information provided in that regard, are hereby authorized.
Section 3. The Chief Administrative Officer and the Treasurer of the Authority,
whose signature specimens are set forth in Exhibit A to this Resolution, or their successors in
such offices, is hereby authorized to order the deposit or withdrawal of monies in LAIF on behalf
of the Authority for any account of the Authority.
Section 4. In addition to Section 3, the County Treasurer, whose signature specimen
is set forth in Exhibit A to this Resolution, or his successor in such office, is hereby also
authorized to order the deposit or withdrawal of monies in (i) funds relating to the 2003 Bonds
and the 2008 Bonds in LAIF in accordance with the Indentures, and (ii) funds relating to any
other bonds issued by the Authority in LAIF, if the indenture relating to the bonds authorizes the
County Treasurer to direct the investment of such funds.
Section 5. The officers of the Authority are hereby authorized and directed, jointly
and severally, to do any and all things, to execute and deliver any additional instruments which
they may deem necessary or advisable in order to effectuate the purposes of this Resolution and
any such actions previously taken by such officers are hereby ratified and confirmed.
Section 6. This Resolution shall take effect immediately upon adoption.
PASSED, APPROVED, AND ADOPTED by the Authority Commission Board of the
Riverside County Palm Desert Financing Authority at its adjourned regular meeting held this
Bch day of December, 2008, by the following vote, to wit:
AYES: MARTINEZ, ORTEGA, WILSON, and BENSON
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE -�
ATTEST:
RA LE D. ASSEN-SECRETARY
RIVERSIDE COUNTY PALM DESERT
I'INANCING AUTHORITY
JEAN9I: i3ENSON,
124/
ESIDENT
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2
RESOLUTION NO. RCPDFA 6
Name
Carlos Ortega
Paul S. Gibson
Don Kent
Exhibit A
Office
Chief Administrative Officer
of the Riverside County Palm Desert
Financing Authority
Treasurer
of the Riverside County Palm Desert
Financing Authority
Treasurer
of the County of Riverside
Signature
12395-0003\1102296v1.doc Exhibit A