RES FA-62RESOLUTION NO. FA-62
A RESOLUTION OF THE PALM DESERT FINANCING AUTHORITY,
73-510 FRED WARING DRIVE, PALM DESERT, CALIFORNIA
92260-2578, TELEPHONE: (760) 346-0611, AUTHORIZING THE
INVESTMENT OF MONIES IN THE LOCAL AGENCY INVESTMENT
FUND OF THE STATE OF CALIFORNIA (LAIF)
WHEREAS, pursuant to Chapter 730 of the Statutes 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 Authority Commission, as the governing body of the
Palm Desert Financing Authority, 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 Palm Desert Financing Authority.
NOW, THEREFORE, BE IT RESOLVED that the Authority Commission of the
Palm Desert Financing Authority does hereby authorize the deposit and withdrawal of
Palm Desert Financing Authority 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 that the following Palm Desert Financing Authority
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/
Palm Desert Financing
Au#betirity Treasurer
(Signature)
Jose Luis Espinoza
Assistant Finance Director
Thomas W. Jeffrey
Deputy City Treasurer
aorno4
(Signature) V V1
RESOLUTION NO. FA-62
PASSED, APPROVED, AND ADOPTED by the Authority Commission of the
Palm Desert Financing Authority, County of Riverside, State of California, at its meeting
held on this 12th day of February , 2009, by the following vote, to wit:
AYES: FERGUSON, FINERTY, KELLY, and SPIEGEL
NOES: NONE
ABSENT: BENSON
ABSTAIN: NONE
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
PALM DESERT FINANCING AUTHORITY
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ROBERT A. SPIEGE&, PR,ESII ENT