CC RES 2015-001 RESOLUTION NO. 2015-01
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES AUTHORIZING CERTAIN OFFICIALS TO CONDUCT
FINANCIAL TRANSACTIONS WITH VARIOUS FINANCIAL INSTITUTIONS
AND DESIGNATING THE DEPUTY DIRECTOR OF FINANCE AS THE
ACTING CITY TREASURER
WHEREAS, the City of Rancho Palos Verdes ("City") has money in its treasury not
required for immediate needs; and
WHEREAS, it is in the best interest of the City to place said money in approved
investments; and
WHEREAS, the City retains several accounts at various financial institutions for
investment purposes; and
WHEREAS, financial institutions often require that the City designate by resolution
representatives to conduct financial transactions on its behalf.
NOW, THEREFORE, BE IT RESOLVED,THAT THE CITY COUNCIL OF THE CITY
OF RANCHO PALOS VERDES HEREBY FINDS, RESOLVES AND ORDERS:
Section 1: Acting City Treasurer. Kathryn Downs, the Deputy Director of Finance
is hereby designated as the Acting City Treasurer.
Section 2: Authorized Investors. Carolynn Petru, Acting or Interim City Manager and
Kathryn Downs,Acting City Treasurer, each are authorized to deposit and invest the City's
funds in accordance with principles of sound treasury management, the provisions of
Government Code Section 53600 et seq., and the City's Investment Policy.
Section 3: Resolution No. 2007-87 is hereby rescinded and replaced by this Resolution.
PASSED, APPROVED, AND ADOPTED THE 6th DAY OF JANUARY 2015.
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iV or
A S :
City Clerk
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2015-01 was duly and regularly passed and adopted by the said City
Council at regular meeting thereof held on January 6, 201 . -�
City Clerk