IA RES 2007-008 RESOLUTION NO. IA 2007-08
A RESOLUTION OF THE RANCHO PALOS VERDES IMPROVEMENT
AUTHORITY AUTHORIZING THE CHIEF ADMINISTRATIVE OFFICER AND
AUTHORITY TREASURER TO CONDUCT FINANCIAL TRANSACTIONS WITH
VARIOUS FINANCIAL INSTITUTIONS AND DESIGNATING THE DIRECTOR OF
FINANCE AND INFORMATION TECHNOLOGY AS THE AUTHORITY TREASURER.
WHEREAS, the Rancho Palos Verdes Improvement Authority ("Authority") has money
in its treasury not required for immediate needs; and
WHEREAS, it is in the best interest of the Authority to place said money in approved
investments; and
WHEREAS, the Authority retains several accounts at various financial institutions for
investment purposes; and
WHEREAS, financial institutions often require that the Authority designate by resolution
representatives to conduct financial transactions on its behalf.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE RANCHO
PALOS VERDES IMPROVEMENT AUTHORITY HEREBY FINDS, RESOLVES AND
ORDERS:
Section 1. Authority Treasurer. The Director of Finance and Information Technology
is hereby designated as the Authority Treasurer.
Section 2. Authorized Investors. Chief Administrative Officer Carolyn Lehr and
Authority Treasurer Dennis McLean each are authorized to deposit and invest the
Authority's funds in accordance with principles of sound treasury management, the
provisions of Government Code Section 53600 et seq., and the Authority's Investment
Policy.
PASSED, APPROVED, AND ADOPTED THE 7th DAY OF AI" OPT 2007.
P ' -
Commission air
ATTEST: L,
Commission Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, CARLA MORREALE, Commission Secretary of the Rancho Palos Verdes
Improvement Authority, hereby certify that the above Resolution No. IA 2007-08 was
duly and regularly passed and adopted by the said Improvement thority at regular
meeting thereof held on August 7, 2007. &tc 246,6q,./Le
Commission Secretary