CC RESOLUTION 4345RESOLUTION NO. 4345
A RESOLUTION AUTHORIZING THE INVESTMENT OF CITY MONIES IN THE
LOCAL AGENCY INVESTMENT FUND.
BE IT RESOLVED by the Council of the City of El Segundo as follows:
SECTION 1: The City Council finds as follows:
A. Pursuant to Chapter 730 of the statues 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
B. 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 El Segundo.
C. The deposit and withdrawal of money 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.
SECTION 2: The following City Treasurer, City Manager and Deputy City
Treasurer or their successors in office shall be authorized to order the deposit or
withdrawal of monies in the Local Agency Investment Fund:
Ralph E. Lanphere Mary Strenn Mary M. Kobus
City Treasurer City Ma na er Deputy City Treasurer
SECTION 4: The City Clerk is directed to certify the passage and adoption of this
Resolution; enter same in the book of original Resolutions; and make a Minute of
its adoption in the City's records and in the Minutes of the meeting when it was
adopted.
SECTION 5: This Resolution will become effective immediately upon adoption
and will remain effective unless repealed or superseded.
PASSED, APPROVED AND ADOPTED this 18th day Of November
2003.
Mike Gordon, Mayor
ATTEST:
I, Cindy Mortesen, City Clerk of the City of El Segundo, California, do hereby
certify that the whole number of members of the City Council of said City is five;
that the foregoing Resolution No. 4345 was duly passed and adopted by said
City Council, approved and signed by the Mayor, and attested to by the City
Clerk, all at a regular meeting of said Council held on the 18TH Day of November
2003, and the same was so passed and adopted by the following vote:
AYES: Gordon, Jacobs, Gaines, McDowell, Wernick
NOES: None
ABSENT: None
ABSTAIN: None
Cindy Wrtesen, City Clerk
APPRMVnS M:
Mark orr
By:
Ka rl H. Ber r,
Assistant ty ttorney