CC RES 2015-054 RESOLUTION NO. 2015-54
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 DIRECTOR OF FINANCE AS THE 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: City Treasurer. Deborah Cullen,the Director of Finance is hereby designated as the
City Treasurer.
Section 2: Authorized Investors. Doug Willmore, City Manager and Deborah Cullen, 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Section 3: Resolution No. 2007-87 is hereby rescinded and replaced by this Resolution.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 7th DAY OF JULY 2015.
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ATT ST: C77
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. 2015-54 was duly and regularly passed and adopted by the said City Council at
regular meeting thereof held on July 7, 2015.
! /,
City Clerk