IA RES 2019-011 RESOLUTION NO. IA 2019-11
A RESOLUTION OF THE RANCHO PALOS VERDES IMPROVEMENT
AUTHORITY AUTHORIZING THE INVESTMENT OF MONIES IN THE LOCAL
AGENCY INVESTMENT FUND OF THE STATE OF CALIFORNIA AND TAKING
CERTAIN ACTIONS IN CONNECTION THEREWITH.
RECITALS:
WHEREAS, the Local Agency Investment Fund is established in the State Treasury
under Government Code section 16429.1 et. seq. for the deposit of money of a local agency for
purposes of investment by the State Treasurer; and
WHEREAS, the Authority Commission hereby finds that the deposit and withdrawal of
money in the Local Agency Investment Fund in accordance with Government Code section
16429.1 et. seq. for the purpose of investment as provided therein is in the best interests of the
Rancho Palos Verdes Improvement Authority.
WHEREAS, the Authority Commission adopted Resolution No. IA 2015-06 on July 7,
2015, authorizing the Executive Director, the Treasurer, and the Deputy Treasurer of the
Improvement Authority, or their successors in such offices, to order the deposit or withdrawal of
moneys in various financial institutions on behalf of the Improvement Authority.
WHEREAS, Pursuant to a request of the State Treasurer's Office, the Improvement
Authority Commission wishes to adopt this Resolution to supplement Resolution No. 2019-52 to
provide specific authorization for the Improvement Authority LAIF account.
NOW THEREFORE, BE IT RESOLVED, that the Improvement Authority Commission
hereby authorizes the deposit and withdrawal of Improvement Authority monies in the Local
Agency Investment Fund in the State Treasury in accordance with Government Code section
16429.1 et. seq. for the purpose of investment as provided therein.
BE IT FURTHER RESOLVED, as follows:
Section 1. The following Improvement Authority officers holding the title(s) specified
herein or their successors in office are each hereby authorized to order the deposit or
withdrawal of monies in the Local Agency Investment Fund and may execute and deliver any
and all documents necessary or advisable in order to effectuate the purposes of this resolution
and the transactions contemplated hereby:
City Manager or Acting/Interim City Manager
Executive Director of the
Rancho Palos Verdes
. Improvement Authority
Director or Acting/Interim Director of Finance
Treasurer of the
111 Rancho Palos Verdes
Improvement Authority
Deputy or Acting/Interim Deputy Director of Finance
DeputyTreasurer of the
Rancho Palos Verdes
Improvement Authority
Section 2. Rescind Resolution No. IA 2015-11 and replace it with this Resolution.
This resolution shall remain in full force and effect until rescinded by the Improvement Authority
Commission by resolution and a copy of the resolution rescinding this resolution is filed with the
State Treasurer's Office.
Section 3. The Officers of the Improvement Authority are hereby authorized and
directed,jointly and severally, to do any and all things, to execute and deliver any additional
instruments which they may deem necessary or advisable in order to effectuate the purposes of
this Resolution and any such actions previously taken by such officers are hereby ratified and
confirmed.
Section 4. The Secretary of the Improvement Authority is hereby authorized and
directed to submit a certified copy of this Resolution and such forms as may be required to the
Office of the State Treasurer to effectuate the purposes of this Resolution.
PASSED, APPROVED, AND ADOPTED this 6TH DAY OF NOVEMBER 2019.
Chair
1111
ATTEST:
givabi
M= I'Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Emily Colborn, Commission Secretary of the Rancho Palos Verdes Improvement Authority,
hereby certify that the above Resolution No. IA 2019-1 was duly and regularly passed and
adopted by the said Improvement Authority at regular ing thereof held on November 6th,
2019.
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