CC RES 2019-052 RESOLUTION NO. 2019-52
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES AUTHORIZING INVESTMENT OF RANCHO PALOS VERDES MONIES
IN LOCAL AGENCY INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the,Statues of 1976 Section 16429.1 was added to
the California Government Code to create a Local Agency Investment Fund in the State Treasury for
the deposit of money of a local agency for purposes of investment by the State Treasurer; and
WHEREAS,the City Council does herby find that the deposit and withdrawal of money in the
Local Agency Investment Fund in accordance with the provisions of Section 16429.1 of the
Government Code for the purposes of investment as stated therein as in the best interests of the
City of Rancho Palos Verdes.
NOW, THEREFORE, BE IT RESOLVED, THAT THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES HEREBY FINDS, RESOLVES AND ORDERS:
(1) The City Council does hereby authorize the deposit and withdrawal of the City of Rancho
Palos Verdes monies in the Local Agency Investment fund in the State Treasury in
accordance with the provisions of Section 16429.1 of the Government Code for the purpose
of Investment as stated therein.
(2) The following City Officers or their successors in office shall be authorized to order the
deposit or withdrawal of monies in the Local Agency Investment Fund:
i. City Manager or Acting/Interim City Manager
ii. Director or Acting/Interim Director of Finance
iii. Deputy or Acting/Interim Deputy Director of Finance
(3) Resolution No. 83-64 is hereby rescinded and replaced by this Resolution.
PASSED, APPROVED, AND ADOPTED THIS 6TH DAY OF NOVEMBER 2019.
111 1 )1\ (Ak road
Jer . Duhovic, Mayor
Attest: 011allphib,
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Emily Colborn, City Clerk of the City of Rancho Palos Verdes, hereby certify that the above
Resolution No. 2019-52 was duly and regularly passed and adopted by the said City Council at a
regular meeting thereof held on November 6th, 2019. ik
ill MI
114P I 1
Emily C•Ibo n, City Clerk