HomeMy WebLinkAboutR33-Economic Development Agency
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ECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO
REOUEST FOR COMMISSION/COUNCIL ACTION
FROM: Barbara Lindseth
Administrative Services Director
SUBJECT:
WCAL AGENCY INVESTMENT
FUND
DATE: December 5, 2003
ORIGINAL
Svnonsis of Previous Commission/Council/Committee Action(s):
On December 4, 2003, Redevelopment Committee Members Anderson and Suarez recommended adoption of the resolution
for the investment of monies, and the authorizing of certain Agency employees to deposit and withdraw funds from the Local
Agency Investment Fund.
Recommended Motlon(s):
(Communitv Development Commission)
MOTION:
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, AUTHORIZING THE INVESTMENT OF MONIES IN
THE LOCAL AGENCY INVESTMENT FUND, AND AUTHORIZING CERTAIN ECONOMIC
DEVEWPMENT AGENCY EMPLOYEES TO DEPOSIT AND WITHDRAW MONIES FROM
SAID FUND.
Contact Person(s): Gary Van OsdellBarbara Lindseth
Phone: 663-1044
Project Area(s):
All
Ward(s): All
Supporting Data Attached:1lll Staff Report Il!I Resolution(s) 0 Agreement(s)/Contract(s) 0 Map(s) 0 LtrlMemo
FUNDING REQUIREMENTS: Amount: None
Source: NA
Budget Authority: NA
SIGNATURE:
1L~tL~<<-~civ ({-
Barbara Lindseth
Admin Services Director
Commlssion/CouneD Notes:
__~_~__:::_~~!_:~~=-_~_:1_________________________________________________________________________
GVO:BL:Agenda CDC LAIF .doc COMMISSION MEETING AGENDA
MEETING DATE: 12/15/03
Agenda Item Number: 1<33
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ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
Back2round:
Local Aeencv Investment Fund
In accordance with the Agency's Annual Investment Policy the Economic Development Agency
("Agency") invests funds in the State ofCalifomia Local Agency Investment Fund ("LAIF") pool.
The Agency has invested funds with LAIF for approximately fourteen (14) years. During that period
of time, the Agency Executive Director has been the staff person authorized, pursuant to the
Agency's check signing resolution as previously accepted by LAIF, to deposit and withdraw Agency
funds placed with LAlF. The Agency Executive Director in turn delegates those duties to the
Agency's Administrative Services Director, Accounting Manager, or Senior Financial Administrative
Analyst, as outlined on the LAIF authorization form updated annually.
Current Issue:
Now, LAlF's financial and compliance auditors are requiring that an Agency resolution, specifically
designed for LAIF, be adopted indicating those Agency individuals authorized to deposit and
withdraw funds placed withLAlF, pursuant to Chapter 730 of the statues ofl976 Section 16429.1,
which created LAlF.
In accordance with LAlF's request, it is proposed that the Agency resolution, in the form requested
by LAIF, be adopted, which names the Agency's Executive Director, who in turn delegates authority
to the Agency's Administrative Services Director, Accounting Manager, or Senior Financial
Administrative Analyst, as those individuals authorized to deposit and withdraw funds from LAlF.
Environmental Impact:
None.
Fiscal Impact:
None.
Recommendations:
That the Community Development Commission adopt the attached Resolution.
"zf~~~~~jx~
Barbara Lindseth
Administrative Services Director
GVO:BL:Agenda CDC LAIF .doc
COMMISSION MEETING AGENDA
MEETING DATE: 12/15103
Agenda Item Number: R..3 '3
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING
THE INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND, AND AUTHORIZING CERTAIN ECONOMIC
DEVELOPMENT AGENCY EMPLOYEES TO DEPOSIT AND
WITHDRA W MONIES FROM SAID FUND.
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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 Community Development Commission ("Commission")
does hereby fmd 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
interest of the Economic DevelopmentlRedevelopment Agency ("Agency"); and
WHEREAS, the Commission hereby deems it desirable to authorize
certain Agency employees to deposit and withdraw monies from the Local Agency
Investment Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO,
AS FOLLOWS:
Section 1. That the Commission does hereby authorize the deposit and
withdrawal of Agency 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
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING
THE INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND, AND AUTHORIZING CERTAIN ECONOMIC
DEVELOPMENT AGENCY EMPLOYEES TO DEPOSIT AND
WITHDRA W MONIES FROM SAID FUND.
Treasurer's Office of banking information provided in that regard.
Section 2. That the following Agency officers or their successors in office
shall be authorized to order the deposit or withdrawal of monies in the Local
Agency Investment Fund: Executive Director, who shall delegate authority to the
Administrative Services Director, the Accounting Manager and the Senior
Financial Administrative Analyst.
Section 3. This Resolution shall take effect upon the date of its adoption.
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING
THE INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND, AND AUTHORIZING CERTAIN ECONOMIC
DEVELOPMENT AGENCY EMPLOYEES TO DEPOSIT AND
WITHDRAW MONIES FROM SAID FUND.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by
the Community Development Commission of the City of San Bernardino at a
meeting thereof, held on the
day of
, 2003 by
the following vote, to wit:
COMMISSION MEMBERS
A YES NAYS ABSTAIN ABSENT
ESTRADA
12 LONGVILLE
13 MCGINNIS
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DERRY
SUAREZ
ANDERSON
MCCAMM:ACK
Secretary
The foregoing Resolution is hereby approved this _day of
,2003.
Judith Valles, Chairperson
Community Development
Commission of the City of
San Bernardino
By:
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** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): 12-IS-o'S Item # ~33 Resolution #
Vote: Ayes \-') Nays 0- Abstain .~
Change to motion to amend original documents: -
c CX::.J z Co3- 44;
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Absent -G-
Reso, # On Attachments~ Contract term: -
Note on Resolution of Attachment stored separately:--=-
Direct City Clerk to (circle 1): PUBLISH, POST, RECORD W/COUNTY
Null/Void After:-
By:
Date Sent to Mayor: 12-''1 -0 ~
Date of Mayor's Signature: I? - i ;>i -0.3
Date of Clerk/CDC Signature: ( ;) - \ ~ -o_~
Reso, Log Updated: ~
Seal Impressed: /
Date emo/Letter Sent for Signature:
60 Day Remin er e
90 Day Reminder Letter Sent on 45th day:
See Attached:
See Attached:
ed:
Date Returned: _
Request for Council Action & Staff Report Attached: Yes"""'---
Updated Prior Resolutions (Other Than Below): Yes
Updated CITY Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634): Yes
Updated CDC Personnel Folders (5557): Yes
Updated Traffic Folders (3985, 8234,655,92-389): Yes
No By
No~ By_
No /" B
No~ B
No ::::7B
Copies Distributed to:
City Attorney
Parks & Rec,
Code Compliance
Dev, Services
EDA
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Finance
MIS
Police
Public Services
Water
Others:
Notes:
BEFORE FILING. REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. ete.)
Ready to File:_
Date:
Revised 01/12/01