HomeMy WebLinkAboutR-11326 authorizing investment of monies in the Local Agency Investment Fund (LAIF) and assigning Designated City OfficersR 11326
RESOLUTION NO. 11326 (2022 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, AUTHORIZING INVESTMENT OF MONIES IN
THE LOCAL AGENCY INVESTMENT FUND AND ASSIGNING
DESIGNATED CITY OFFICERS
WHEREAS, pursuant to Chapter 730 of the statues of 1976 Section 16429.1 was
added to the California Government Code to create a Local Agency Inve stment 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 Council of the City of San Luis Obispo does hereby find that the
deposit and withdrawal of money in the Local Agency Investment Fund in accordance
with the provision of Section 16429.1 of the Government Code for the purpose of
investment as stated therein is in the best interest of the City of San Luis Obispo; and
WHEREAS, the City has participated in the Local Agency Investment Fund since
1977 and has updated its resolution most recently in 2012.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Luis
Obispo that:
SECTION 1. The Council does hereby re-authorize the deposit and withdrawal of
City of San Luis Obispo 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.
SECTION 2. The following City of San Luis Obispo officers or their successors in
the office shall be authorized to order the deposit or withdrawal of monies in the Local
Agency Investment Fund:
Administration Finance
City Manager Director of Finance/City Treasurer
Assistant City Manager Accounting Manager/Controller
Senior Accountant
Revenue Analyst
DocuSign Envelope ID: B709FAA8-0395-4856-BFA4-F8B5358A79CA
Resolution No. 11326 (2022 Series) Page 2
R 11326
SECTION 3. Resolution No. 10393 (2012 Series) is hereby rescinded and
replaced with this Resolution.
Upon motion of Vice Mayor Christianson, seconded by Council Member Marx, and
on the following roll call vote:
AYES: Council Member Marx, Pease, Shoresman, Vice Mayor
Christianson, and Mayor Stewart
NOES: None
ABSENT: None
The foregoing resolution was adopted this 17th day of May 2022.
___________________________
Mayor Erica A. Stewart
ATTEST:
__________________________
Teresa Purrington
City Clerk
APPROVED AS TO FORM:
__________________________
J. Christine Dietrick
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
___________________________
Teresa Purrington
City Clerk
DocuSign Envelope ID: B709FAA8-0395-4856-BFA4-F8B5358A79CA
5/20/2022 | 6:51 AM PDT