HomeMy WebLinkAboutReso 2012-011 - Investment of Monies
RESOLUTION NO. 2012 -011
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING, AS SUCCESSOR AGENCY TO THE REDDING
REDEVELOPMENT AGENCY, AUTHORIZING THE
INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND.
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 purpose of investment
by the State Treasurer; and
. WHEREAS, the City Councii of the City of Redding, as successor agency to the
Redding Redevelopment Agency, 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
to be in the best interests of the City of Redding, as successor agency to the Redding
Redevelopment Agency.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Redding, as successor agency to the Redding Redevelopment Agency, hereby:
I. Authorizes the deposit and withdrawal of the City of Redding's monies as
successor agency to the Redding Redevelopment Agency 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.
2. Authorizes the following City of Redding officers or their successors in
office to order the deposit or withdrawal of monies in the Local Agency Investment
Fund:
Leslie C. Detwiler City Treasurer
Julie F. Ervin Deputy City Treasurer
Tonia Gale Management Analyst II
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Stephen W. Strong Director of Finance ~
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Dennice L. Maxwell Finance Officer \
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Cathy Bullock Senior Accountant ~
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I HEREBY CERTIFY that the foregoing resolution was introduced, read, and
adopted at a regular meeting of the City Council of the City of Redding on the 7th day of
February, 2012, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: Bosetti, Jones, McArthur, Sullivan, and Dickerson
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
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ATTEST: APPROVED AS TO FORM:
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