R-7367
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FO-CMO'REB:lh/res12l37 Santa Monica, California
City Council Meeting 1/27/87
RESOLUTION NUMBER 7367{CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA AUTHORIZING THE CITY
REVE~LJE MANAGER/TREASURER TO INVEST
CITY FUNDS IN THE STATE LOCAL AGENCY INVESTMENT FUND
\o,T}{EREAS, pursuant to Chapter 730 of the Statutes 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
~~EREAS, the City Council of the City of Santa Monica does hereby find
that the deposit and withdrawal of money, not required for immediate City cash
needs, 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 are in the best interests of the City of Santa Monica;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES
RESOLVE AS FOLLOWS.
SECTION 1
The deposit and withdrawal of City of Santa Monica monies,
not required for immediate cash needs, 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 is authorized
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SECTION 2. The City Revenue Manager/Treasurer, Mr Ralph E Bursey, or
his successors in office shall be authorized to order the deposit or
withdrawal of City of Santa Monica monies in the Local Agency Investment Fund
SECTION 3
The City Clerk shall certify to the adoption of this
Resolution, and thenceforth and thereafter the same shall be in full force and
effect
APPROVED AS TO FORM
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Robert M Myers
City Attorney
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I hereby certify tha
day of January, 1987.
Adopted and appro
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Mayor
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Resolution No. 7367(CCS)
was duly adopted by the City council of the city of Santa Monica
at a meeting thereof held on January 27, 1987 by the following
council vote:
Ayes: Councilmembers:
Finkel, Jennings, A. Katz, H.
Katz, Reed, Zane and Mayor Conn
Noes: Councilmembers:
None
Abstain: Councilmembers:
None
Absent: councilmembers:
None
ATTEST:
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