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CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From: David Kennedy
Snbject: Authorization to Invest in
Local Agency Investment Fund
Dept: City Treasurer
ORIGINAL
Date: July 2, 2003
MlCC Meeting Date: August 4, 2003
Synopsis of Previous Council action:
Resolution #88-337 adopted 9/7/88
Recommended motion:
Adopt Resolution
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Signature -.... ~
Contact person:
David Kennedv. City Treasurer
Phone:
ex!. 5221
Supporting data attached: Ward:
FUNDING REQUIREMENTS: Amount:
Source: (Acct. No.)
(Ace" Description)
Finance:
Council Notes:
14::-:'X~~s- 2_1 "2._
Agenda Item No. / d-
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CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
Staff Report
Subject:
RESOLUTION AUTHORIZING INVESTMENT OF CITY OF SAN
BERNARDINO MONIES IN LOCAL AGENCY INVESTMENT FUND.
Background:
RESOLUTION 88-337 authorized the City to invest in the Local Agency Investment Fund,
which was created, by a State voluntary statute, in 1977.
The City has been investing in LAIF, on a continuous basis, since 1988.
The purpose of this resolution is to update the authorized persons' names on the resolution to
correspond to those currently on file with the Local Agency Investment Fund as authorized to
make transaction and changes to the account.
We are removing Craig A. Graves' and Edy J. Rose's name and replacing them with David C.
Kennedy, Barbara Masters, and Gary Silvius, and their successors.
Financial Impact:
None
Recommendation:
Adopt Resolution
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING INVESTMENT OF CITY OF SAN
BERNARDINO MONIES IN LOCAL AGENCY INVESTMENT FUND.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AS FOLLOWS:
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 Mayor and Common Council do 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 purposes of investment as stated therein is in the best interests of the
City of San Bernardino.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and Common Council of
the City of San Bernardino do hereby authorize the deposit and withdrawal of the City of
San Bernardino 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.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AUTHORIZING INVESTMENT OF CITY OF SAN
BERNARDINO MONIES IN LOCAL AGENCY INVESTMENT FUND.
BE IT FURTHER RESOLVED that the following San Bernardino City Officers or
their successors in office shall be authorized to order the deposit or withdrawal of monies in
the Local Agency Investment Fund:
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-~-~I City Treasurer
David C. Kennedy '~...J
-flu..--f..cv. >j r'lQA..~~Deputy City Treasurer
B. arb~~,asters _
. ~"---- Accounting Manager
.Gary Silvius
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING INVESTMENT OF CITY OF SAN
BERNARDINO MONIES IN LOCAL AGENCY INVESTMENT FUND.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor
and Common Council of the City of San Bernardino at a
meeting thereof, held
on the _ day of
,2003, by the following vote, to wit:
COUNCIL MEMBERS
AYES NAYS
ABSTAIN ABSENT
ESTRADA
L1EN-LONGVILLE
MCGINNIS
DERRY
SUAREZ
ANDERSON
MCCAMMACK
Rachel Clark, City Clerk
City of San Bernardino
The foregoing resolution is hereby approved this day of
,2003.
Judith Valles, Mayor
City of San Bernardino
Approved as to form
and legal content:
James F. Perunan
City Attorney
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** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): ~{ ''-/' C:.=:, Item # 12- Resolntion #
Vote: Ayes j- "1 Nays .@ Abstain .G-
Change to motion to amend original documents: -
i-CD~-d-\J-
Absent .G-
Reso. # On Attachments: - Contract term: -
Note on Resolution of Attachment stored separately: =---
Direct City Clerk to (circle 1): PUBLISH, POST, RECORD W/COUNTV
Date Sent to Mayor:
-t; -VB
Date of Mayor's Signalnre:
Date of ClerklCDC Signalnre:
D te Memo/Letter Sent for Signalnre:
60 Day Reminder Letter Sent on 30th day:
90 Day Reminder Letter Sent on 45th day:
See Attached:
e Attached:
See Attached:
Request for Council Action & Staff Report Attached:
Updated Prior Resolutions (Other Than Below):
Updated C1TV Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634):
Updated CDC Personnel Folders (5557):
Updated Traffic Folders (3985, 8234, 655, 92.389):
Copies Distributed to:
City Attorney .,/
Parks & Rec,
Code Compliance Dev. Services
Police Public Services Water
Notes:
Null/Void After:-
By: -
Reso. Log Updated: /
Seal Impressed:
Date Relnrned: -
Ves / No By
Ves No~ By
Ves N01 By
Ves No / By
Ves No 7 B
EDA
Finance
MIS
Others: ..,'Q~( ,'7. c2.
BEFORE FILING, REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE IContract Term, etc.)
Ready to File: ~
Date:
Revised 01/12101