HomeMy WebLinkAboutReso 26-07 Local Agency Investment Fund
RESOLUTION NO. 26 - 07
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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AUTHORIZING INVESTMENT OF MONIES IN THE
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND (LAIF)
WHEREAS, pursuant to Chapter 730 ofthe 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 as in the best interests of the City; and
WHEREAS, the Local Agency Investment Funds requires the adoption of an authorizing
resolution in order to effectively administer participation in the fund; and
WHEREAS, this resolution is based on a State model developed for all LAIF participants.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin 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.
BE IT FURTHER RESOLVED that 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 and to order
changes in the account in accordance with LAIF procedures:
City Manager
Assistant City
Manager
Administrative Services
Director
Finance Manager
BE IT FURTHER RESOLVED that the incumbents in the positions noted above shall submit to LAIF a
certified copy of specimen signatures as required by LAIF program requirements.
PASSED, APPROVED AND ADOPTED this 6th day of March, 2007, by the following vote:
AYES: Councilmembers Hildenbrand, Oravetz, Sbranti and Scholz, and Mayor Lockhart
NOES: None
ABSENT: None
ABST AIN: None
ATTESTi
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City Clerk
Reso No. 26-07, Adopted 3/6/07, Item 4.7
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