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Home My WebLink About1990-5246 1 - '-- 2 RESOLUTION NO. 5246 3 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE INVESTMENT OF SURPLUS 4 FUNDS, AND AUTHORIZING THE EXECUTIVE DIRECTOR TO MAKE DEPOSITS IN ACCORDANCE WITH THE PROVISIONS OF THE GOVERNMENT CODE OF THE 5 STATE OF CALIFORNIA. 6 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON 7 COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS: 8 SECTION 1. The Executive Director of the Redevelopment 9 Agency of the City of San Bernardino, or his or her designee, is 10 authorized to invest and reinvest surplus funds of the 11 Redevelopment Agency of the City of San Bernardino, and to sell 12 or exchange securities, in accordance with Sections 53600 through 13 53609 of the Government Code of the State of California and the 14 annually adopted investment policy of the Agency. ......... 15 SECTION 2. The Executive Director or his or her designee 16 is authorized to deposit any of the instruments described in 17 Section 53608 of the Government Code in any of the depositaries 18 described in that section. 19 SECTION 3. Any depositary selected by the Executive 20 Director or his or her designee is entitled to accept for 21 deposit any of the instruments described in Section 53608 of the 22 Government Code, and to comply with any written order relating to 23 such deposit which is executed by the Executive Director or his 24 or her designee, subject to any applicable statutory or 25 regulatory limitations. 26 / / / / / / ,~, 27 '-" 28 DAB/ses/deposits.res March 13, 1990 '-'_~-"~'_,:',:'..,C-.'.'.'~.~..&.:':_.~..,:'~;w,~......""!.',,.;;.,~~oj;;.',._,~",",,,~,,,"""""""-"""""~ ""'~'.''''''_'i...~~~~,~,..~\';"_i':..'.l. .::.,."'.""''''.~ ~....~_~",.:_l' .mil "f. "l:'.._.,~"'''''.~'''''.'" "-" ~ \- ~ \..- 1 2 3 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE INVESTMENT OF SURPLUS FUNDS, AND AUTHORIZING THE EXECUTIVE DIRECTOR TO MAKE DEPOSITS IN ACCORDANCE WITH THE PROVISIONS OF THE GOVERNMENT CODE OF THE STATE OF CALIFORNIA. 4 5 I HEREBY CERTIFY that the foregoing resolution was duly 6 adopted by the Community Development Commission of the City of 10 7 San Bernardino at a 8 the 2nd day of 9 wit: Commission Members: 11 ESTRADA 13 12 REILLY FLORES MAUDSLEY MINOR POPE-LUDLAM MILLER meeting thereof, held on RF.(;UT.AR April , 1990, by the following vote, to 14 15 16 17 18 19 20 21 22 23 24 AYES NAYS ABSTAIN x X x x x x x ~~~:;L Secr tar of April , 1990. The foregoing resolution is hereby day Approved as to 25 form and legal content: ~M.) Agenc ounsel DABjsesjdeposits.res March 13, 1990 -"'~4"_4-'-,"''''''~''.~'.'->;''~_'~'''.~'.,.".._,~"..''->_""""___~~.~:._'3 26 27 28 li" ..),*""""",..~"""'-'h,~"":~"_._:..;._~"".~;;,*,,'",,,,,,,~ " . 'h_._"_"",,",,,,,"""'.,,;"~,,,,"''''''''~___,"''''''''_''''~+,_''_''''''''''''_<' .,._...,."_.__,,-_._,._.....,'""~_. ".. ,..,_."......~,'"',>"_.,,,...,:,'" :.C; _~_:ffl___'\f~.....~,'. ""- SECRETARY'S CERTIFICATE OF ADOPTION AND AUTHENTICATION I, Development Resolution adopted Commission below, and ROBERT J. TEMPLE Secretary of the Communi ty Commission, DO HEREBY CERTIFY that the attached is a true and correct copy of Resolution No. 5246 l\pril 2 , 19~, by the Community Development of the Ci ty of San Bernardino, by the vote set forth that said Resolution has not been amended or repealed. Check Appropriate Box COMMISSION MEMBERS YEAS NAYS ABSENT ABSTAIN ESTHER R. ESTRADA I x I 1=1 1=1 1=1 JACK REILLY 1 x I 1=1 1=1 1=1 JESS FLORES I x I 1=1 1=1 1=] ;f//1"'''' '- MICHAEL MAUDSLEY I x I 1=1 1=1 1=1 TOM MINOR 1 x 1 1=1 1=1 1=1 VALERIE POPE-LUDLAM 1 x I 1=1 1=1 1=1 NORINE MILLER I x I 1=1 1=1 1=1 DATED: April 2 , 1990. se~~f;~uni ty Development Commission of the City of San Bernardino '~ [SEAL] "..,..- '-' Redevelopment Agency · City of San Bernardino 300 North "0" Street. Fourth Floor . San Bernardino, California 92418 (714) 384-5081 FAX (714) 888-9413 .-. :~~; ~ We~ MARCH 23. 1990 AUTHORIZE THE INVESTMENT OF SURPLUS FUNDS AND AUTHORIZE THE EXECUTIVE DIRECTOR TO MAKE DEPOSITS IN ACCORDANCE WITH PROVISIONS OF THE GOVERNMENT CODE Synopsis of Previous Commission/Council/Committee Action: 05-16-88 Community Development Commission action taken by motion requiring all investment transactions by Agency staff to be subject to written approval by the City Treasurer. 12-05-88 Community Development Commission action rescinding the action taken on May 16. 1988. and allowing the Executive Director to supervise and implement the Agency's investment transactions. 01-22-90 Community Development Commission adopted the Annual Statement of Investment Policy for the 1990 calendar year. .,,-, Recommended Mot i on: (COMMUNITY DEVELOPMENT COMMISSION) Move to adopt the RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE INVESTMENT OF SURPLUS FUNDS. AND AUTHORIZING THE EXECUTIVE DIRECTOR TO MAKE DEPOSITS IN ACCORDANCE WITH THE PROVISIONS OF THE GOVERNMENT CODE OF THE STATE OF CALIFORNIA. Respectfully Submitted. "jIRljl~i;(."" Supporting data attached: Yes Ward: All Funding requirements: NA PrOject: All jI/!2 S d~~ !ffM 6Yl 1/-2 '1-0 1230A Agenda of: April 2. 1990 Item No.: 5 .,-, '-' i~"~;;;:(iO' "-' .......... Redevelopment Agency S T A F F R E paR T On May 16, 1988 the Community Development Commission took action requiring all investment transactions by the Agency staff to be subject to written approval by the City Treasurer. On December 5, 1988 the Commission rescinded, by motion, the action of May 16, 1988 and allowed the Executive Director to supervise and implement the Agency'S investment transactions. On January 22, 1990 the Community Development Commission adopted the Annual Statement of Investment POlicy for the calendar year 1990. The Agency's attorney felt it was prudent for the Agency to have an adopted Resolution authorizing the Executive Director, or his d~signee, to invest surplus funds of the Agency, sell or exchange securfties and to make deposits in accordance with the provisions of the Government Code of the State of California and the adopted Annual Investment Policy. This Resolution is similar to the Resolution adopted on June 2, 1981 by the Mayor and Common Council authorizing the City Treasurer, or his designee, to invest surplus funds and make deposits on behalf of the City of San Bernardino.