R-515Council Meeting: February 24, 2009 Santa Monica, California
RESOLUTION NO. sis (xas)_
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA AUTHORIZING AUTHORIZING INVESTMENT OF
REDEVELOPMENT AGENCY FUNDS IN THE STATE LOCAL AGENCY
INVESTMENT FUND AND ESTABLISHING.
THE LIST OF PERSONS AUTHORIZED TO CONDUCT
TRANSACTIONS WITH THE STATE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, 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
WHEREAS, the- Members of the Santa Monica Redevelopment Agency
hereby find that the deposit and withdrawal of money in the Local Agency Investment
Fund in accordance with Section 16429.1 of the Government Code for the purpose of
investment as stated therein is in the best interests of the Santa Monica Redevelopment
Agency, and
WHEREAS, the State Local Agency Investment Fund (LAIF) requires that
-the Agency designates appropriate persons authorized to conduct transactions on
behalf of the City with LAIF.
NOW, THEREFORE, THE SANTA MONICA REDEVELOPMENT
AGENCY DOES RESOLVE AS FOLLOWS:
SECTION 1. That the Santa Monica Redevelopment Agency (Agency)
hereby authorizes the deposit and withdrawal of Agency monies in the Local Agency
Investment Fund in the State Treasury in accordance with the provisions of Section.
16429.1 of the State Government Code for the purpose of investment as stated therein,
and verification by the State Treasurer's Office of all banking information provided in
that regard.
SECTION 2. That the Agency Treasurer, the Assistant Director of
Finance, the Principal Budget Analyst-Investments, the Agency Executive Director, the
Deputy City Manager and the Assistant City Manager are authorized to make
investment transactions with LAIF. Attachment A to this resolution lists the current City
employees authorized to make investment transactions with tAIF.
SECTION 3. Any provision of any Resolution inconsistent with the
provisions of the Resolution, to the extent of such inconsistencies and no further, are
hereby repealed or modified to the extent necessary to affect the provisions of the
resolution.
SECTION 4. The Agency Secretary 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
Marsha ones M~uErie /JJ
Attorne~,for the Redevelopment Agency
ATTACHIIfiENT A
City of Santa Monica employees authorized to deposit and withdraw funds in the Local
Agency Investment Fund in the State Treasury on behalf of the Santa Monica
Redevelopment Agency:
Name Position Signature
Carol Swindell Agency Treasurer ~
.Chuck McBride Assistant Director of Finance
David R. Carr Principal Budget Analyst-Investments
P. Lamont Ewell Agency Executive Director ~
Elaine Polachek Deputy City Manager
Jennifer Phillips Assistant City Manager
~/ U
Adopted and approved this the 24th day of Febr ry, 2009.
Ken Censer, air
I, hereby certify that the foregoing Resolution No. 515 (RAS) was duly adopted at
a special meeting of the Redevelopment Agency held on the 24th day of February,
2009, by the following vote:
Ayes: Agency members: Bloom, Holbrook, McKeown
Chair Censer, Chair Pro Tem O'Connor
Noes:. Agency members: None
Abstain: Agency members: None
Absent: Agency members: Shriver
ATTEST:
-~
Maria Stewart, Age cy Secretary