HomeMy WebLinkAboutAGENDA REPORT 2003 1105 CC REG ITEM 10GIT ! 0 . G .
of
5- 00300.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Cynthia L. Borchard, Administrative 1
strative Services Director V
DATE: October 17, 2003 (CC Meeting of 11/05/03)
SUBJECT: Update Names of Individuals Authorized to Make
Deposits and Withdrawals of Money in the Local Agency
Investment Fund.
BACKGROUND
With prior Council authorization and in accordance with
Government Code, the City deposits monies in the Local Agency
Investment Fund (LAIF) for investment by the State Treasurer.
The authorized individuals need to be updated to include current
staff.
DISCUSSION
Resolution No. 89 -586, adopted July 19, 1989, authorized the
City Treasurer, Finance Officer and City Manager to order the
deposit and withdrawal of monies in LAIF. As the position of
Finance Officer no longer exists, the attached Resolution will
authorize the City Manager, City Treasurer and Budget and
Finance Manager to order the deposit and withdrawal of funds.
STAFF RECOMMENDATION
Approve the attached Resolution to update the names of
individuals authorized to order deposits and withdrawals of
monies in LAIF.
000117
RESOLUTION NO. 2003-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AUTHORIZING INVESTMENT OF CITY
MONIES IN THE LOCAL AGENCY INVESTMENT FUND, AND
REPEALING RESOLUTION NO 89 -586
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 City Council 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 City of Moorpark.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council does hereby authorize the
deposit and withdrawal of City 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; and
SECTION 2. The following City officers or their
successors in office shall be authorized to order the deposit or
withdrawal of monies in the Local Agency Investment Fund:
Steven A. Kueny, City Manager
Cynthia L. Borchard, City Treasurer
Johnny Ea, Budget and Finance Manager
PASSED AND ADOPTED this 5th day of November, 2003.
ATTEST:
Deborah S. Traffenstedt, City Clerk
Patrick Hunter, Mayor
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