HomeMy WebLinkAboutR-10759 - Resolution extending the delegation of investment authority to the city treasurer through 2016-17 fical yearRESOLUTION NO. 10759 (2016 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, EXTENDING THE DELEGATION OF
INVESTMENT AUTHORITY TO THE CITY TREASURER THROUGH
THE 2016-17 FISCAL YEAR
WHEREAS, it is the policy of the City of San Luis Obispo for the Director of Finance to
concurrently hold the position of City Treasurer; and
WHEREAS, the City Council has previously delegated the responsibility for making
investment decisions to the City Treasurer in accordance with California Government Code
Section 53607; and wishes to extend the period of time for an additional year; and
WHEREAS, the City Council has reviewed the outcome of the City Treasurer's
investment decisions and now desires to extend the delegation of investment authority to the
2016-17 Fiscal Year.
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The above recitals are true and correct.
SECTION 2. The City Council hereby extends the delegation of duties related making
investments on behalf of the City to the City Treasurer for the 2016-17 Fiscal Year.
SECTION 3. The City Clerk shall cause a certified copy of this Resolution confirming
the delegation of investment authority to be forwarded to the City Treasurer.
Upon motion of Council Member Christianson, seconded by Council Member Gomez, and on the
following roll call vote:
AYES: Council Members Christianson, Gomez and Pease,
Vice Mayor Rivoire, and Mayor Harmon
NOES: None
ABSENT: None
R 10759
Resolution No. 10759 (2016 Series)
The foregoing resolution was adopted this 13th day of December 2016.
ATTEST:
J
Carrie Gallagher
City Clerk
APPROVED AS TO FORM:
V1L.y L-XLLVLII%I '
Page 2
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this 13th day of December 2016.
Carrie Gallagher
City Clerk
R 10759