IA RES 2015-010 RESOLUTION NO. IA 2015-10
A RESOLUTION OF THE RANCHO PALOS VERDES IMPROVEMENT
AUTHORITY AUTHORIZING CERTAIN OFFICIALS TO CONDUCT
FINANCIAL TRANSACTIONS WITH VARIOUS FINANCIAL INSTITUTIONS
AND DESIGNATING THE DIRECTOR OF FINANCE 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 is hereby designated as the
Authority Treasurer.
Section 2: Authorized Investors. The following officials, identified by position title, are
hereby designated and appointed 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:
(1) Executive Director;
(2) Acting or Interim Executive Director;
(3) Authority Treasurer/Director of Finance; and/or
(4) Acting or Interim Authority Treasurer/Acting or Interim Director of
Finance.
Section 3: Resolution No. IA 2007-08 is hereby rescinded and replaced by this
Resolution.
PASSED, APPROVED, AND ADOPTED THE 7th DAY OF JULY 20 5.
c
MI' : f, CHAIR
ATT T:
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 2015-10 was duly and regularly
passed and adopted by the said Improvement Authority at eg r meeting thereof held on
July 7, 2015. •
EX-e
COMMISSION SECRETARY
Resolution No. IA 2015-10
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