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ciTY OF SAN BERADINO - REQUEST OR COUNCIL ACTION
From: CRAIG A. GRAVES, City Treasurer
Su~~: Resolution authorizing City
Treasurer David C. Kennedy to
make investments and deposits
on behalf of the City
Oept: CITY TREASURER'S OFFICE
Oete: June 3, 1991
Synopsis of Previous Council action:
6-1-81
Mayor and Common Council adopted Resolution authorizing
Craig A. Graves to make investments on behalf of the City
as City Treasurer.
.
Recommended motion:
Adopt Resolution.
Council Notes:
Agenda Item No I.JI
CiTY OF SAN BERrQRDINO - REQUEST OR COUNCIL ACTION
STAFF REPORT
On June 3, 1991, David C. Kennedy will be sworn is as the City of
San Bernardino's new City Treasurer. As such a new resolution
needs to be adopted that authorizes him to make appropriate
investments and deposits on behalf of the City and it will
repeal the current standing resolution.
Depositories and brokeage institutions normally require a
specific resolution from the legislative body for their files.
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RESOI,UTION NO.
RESOl-UTION OF THE CITY OF SAN BEP.NAP.DINO AUTHOP.IZING THE
I~~ST~~NT OF SURPLUS F~:DS, AUTHORIZING THE CITY TREASURER TO
MAKE DEPOSITS IN ACCORDANCE WITH THE PROVISIONS OF THE GOVERNMENT
CODE OF THE STATE OF CALIFORNIA, AND REPEALING PBSOLUTION NO.
81-232.
BE IT RESOLVED BY THE ~~~OR ~!D COMMON COL~CIL OF THE CITY
OF SAN BERANRDINO AS FOLr.OWS:
SECTION 1. David C. Kennedy, in his capacity as City
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Treasurer of the City of San Bernardino, is authorized to
invest and reinvest surplus funds of the City of San Bernardino,
and to sell or exchange securities, in accordance with Sections
53600 through 53609 of the Governnent Code of the State of
California.
SECTION 2. The City Treasurer is authorized to deposit any
of the instruments described in Section 53608 of the Government
Code in any of the depositories described in that section.
SECTION 3. Any depository selected by the City Treasurer
is authorized to accept for deposit any of the instr~~ents
described in Section 53608 of the Government Code, and to comply
with any written order relating to such deposit which is executed
by the City Treasurer or his authorized deput~.
SECTION 4. Resolution No. 81-232 of the City of San
Bernardino is repealed.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and COmDon council of the City of San
Bernardino at a
meeting thereof, held on the
day of
, 1991, by the following vote, to-wit:
. . . . . . . . . .
. . . . . . . . . .
6/3/91
.
1\ RESO:
AUTH~ZING THE INVESTMENT OF SU~US FUNDS, AUTHORIZING
THE ~ TREASURER TO MAKE DE PO IN ACCORDANCE WITH
THE PROVISIONS OF THE GOVERNMENT ODE OF THE STATE OF .
CALIFORNIA, AND REPEALING RESOLUTION NO. 81-232.
AYES
NAYS
ABSTAIN
1 council Members:
2 ESTRADA
3 REILLY
4 HERNANDEZ
5 MAUDS1.EY
6 MINOR
7 POPE-LUDLAM
8 MILLER
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City Clerk
The foregoing resolution is hereby approved this
day of
, 1991.
W. R. Holcomb, Mayor
City of San Bernardino
Approved as to form
and legal content:
<
James F. Penman
19 City Attorney
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6/3/91
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