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HomeMy WebLinkAbout6817 RESOLUTION NO. 6817 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, ESTABLISHING AN ACCOUNT WITH THE LOCAL AGENCY INVESTMENT FUND (LAIF) FOR THE FUNDS HELD BY THE SUCCESOR AGENCY TO THE ARCADIA REDEVELOPMENT AGENCY 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 herby 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 Arcadia and the Successor Agency to the Arcadia Redevelopment Agency. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS: SECTION 1. The City Council does hereby authorize the deposit and withdrawal of City of Arcadia monies on behalf of the Successor Agency to the Arcadia 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. SECTION 2. The following City of Arcadia officers or their successors in office shall be authorized to order the deposit or withdrawal of monies in the Local Agency Investment Fund: 1 Jason Kruckeberg Hue Quach Shannon Huang Assistant City Manager/ Administrative Services Financial Services Development Services Director Director Manager/ City Treasurer (Sig, ature) (Signature) (Signature) SECTION 3. The City Clerk shall certify to the adoption of this Resolution. Passed, approved and adopted this 21st day of February , 2012. /,%ILA✓/ • OA.Ar 1 yor : the City of Arcadia ATTEST: City Clerk APPROVED AS TO FORM: A t P e Stephen P. Deitsch City Attorney 2 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS: CITY OF ARCADIA ) I, JAMES H. BARROWS, City Clerk of the City of Arcadia, hereby certifies that the foregoing Resolution No. 6817 was passed and adopted by the City Council of the City of Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said Council held on the 21st day of February, 2012 and that said Resolution was adopted by the following vote, to wit: AYES: Council Members Amundson, Chandler, Harbicht, Segal and Kovacic NOES: None ABSENT: None City Clerk of the City of Arcadia 3