CC RES 2019-053 RESOLUTION NO. 2019-53
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 CITY TREASURER AND DEPUTY 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. The Director of Finance or Acting/Interim Director of Finance
is hereby designated as the City Treasurer.
Section 2: Deputy City Treasurer. The Deputy Director of Finance or Acting/Interim Director of
Finance is hereby designated as the Deputy City Treasurer.
Section 3: Authorized Investors. The City Manager or Acting/Interim City Manager,the Director
or Acting/Interim Director of Finance, and the Deputy or Acting/Interim Deputy Director of Finance
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Section 3: Resolutions No. 2015-54 and 2015-57 are hereby rescinded and replaced by this
Resolution.
PASSED, APPROVED, AND ADOPTED THE 6th DAY OF NO EMBER 2019.
Jer . Duhovic, Mayor
Attest.
•-'ty Clerk
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Emily Colborn, City Clerk of the City of Rancho Palos Vere s, hereby certify that the above
Resolution No. 2019-53 was duly and regularly passed and ad.•1 ed by the said City Council at a
th
regular meeting thereof held on November 6th, 2019. -�
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• •,•rn City Clerk