HomeMy WebLinkAboutAGENDA REPORT 2018 0620 CCSA REG ITEM 10ICITY OF MOORPARK,
CALIFORNIA
City Council Meeting
of June 20, 2018
ACTION Adopted Reso No.
2018-3722
BY M. Benson
I. Consider Resolution Authorizing Investment of City Monies in the Local Agency
Investment Fund and Rescinding Resolution No. 2003-2143. Staff
Recommendation: Adopt Resolution No. 2018- ____, rescinding Resolution No.
2003-2143. ROLL CALL VOTE REQUIRED
Item: 10.I.
[Type text]
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Ron Ahlers, Finance Director
DATE: 06/20/2018 Regular Meeting
SUBJECT: Consider Resolution Authorizing Investment of City Monies in the
Local Agency Investment Fund and Rescinding Resolution No. 2003-
2143
SUMMARY
The authorized City Officers need to be updated to include current staff for conducting
business with the State Treasurer and the investment of city monies in the Local
Agency Investment Fund (LAIF).
DISCUSSION
The City has invested city monies in LAIF for a number of years. Resolution No. 2003-
2143 authorized the City Manager, City Treasurer and Budget and Finance Manager to
deposit and withdraw funds from LAIF. Staff is requesting that a fourth signatory be added
to the list in case other city officers are not available to sign. The attached resolution
authorizes four City Officers to deposit and withdraw city monies from LAIF: City Manager,
Assistant City Manager, Finance Director/City Treasurer and the Deputy Finance Director.
FISCAL IMPACT
None.
STAFF RECOMMENDATION (Roll Call Vote)
Adopt Resolution No. 2018- ___, rescinding Resolution No. 2003-2143.
Attachment: Resolution No. 2018-_______
Item: 10.I.
894
RESOLUTION NO. 2018-____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AUTHORIZING INVESTMENT
OF CITY MONIES IN THE LOCAL AGENCY INVESTMENT
FUND, AND RESCINDING RESOLUTION NO 2003-2143
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 holding the title(s) specified hereinbelow
or their successors in office are each hereby authorized to order the deposit or
withdrawal of monies in the Local Agency Investment Fund and may execute and
deliver any and all documents necessary or advisable in order to effectuate the
purposes of this resolution and truncations contemplated hereby:
Troy Brown City Manager
Deborah Traffenstedt Assistant City Manager
Ron Ahlers Finance Director / City Treasurer
Irmina Lumbad Deputy Finance Director
SECTION 3. Resolution No. 2003-2143 shall be rescinded, and this new
resolution shall remain in full force and effect until rescinded by the City Council by
resolution and a copy of the resolution rescinding this resolution is filed with the State
Treasurer’s Office.
895
Resolution No. 2018-____
Page 2
SECTION 4. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 20th day of June, 2018.
Janice S. Parvin, Mayor
ATTEST:
________________________________
Maureen Benson, City Clerk
896