r-10566ATTACHMENT2
Council Meeting: February 22, 2011 Santa Monica, California
RESOLUTION NO. 10566 (CCS)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA AUTHORIZING THE ESTABLISHMENT AND
USE OF BANK AND BROKERAGE ACCOUNTS AND UPDATING
THE LIST OF PERSONS AUTHORIZED TO CONDUCT
TRANSACTIONS WITH THE STATE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, the City of Santa Monica (the City) is a municipal corporation;
and
WHEREAS, the City from time to time establishes and/or closes deposit
and investment accounts with financial institutions; and
WHEREAS, the State Local Agency Investment Fund (LAIF) requires that
the City Council designates appropriate persons authorized to conduct transactions on
behalf of the City with LAIF; and
WHEREAS, certain staffing changes have made it necessary to update
the designees authorized to conduct transactions with LAIF and establish and/or close
deposit and investment accounts with financial institutions,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. That the Director of Finance is authorized to establish and
close deposit and investment accounts with financial institutions and brokerages upon
such terms and conditions as are provided by the statutes of the State
of California governing public deposits and the City's investment policy.
ATTACHMENT2
SECTION 2. That banks with which the City has established demand
deposit accounts and their correspondents banks are hereby requested, authorized,
and directed to honor all checks, warrants, drafts, or other orders for the payment of
money drawn to the individual order of any person or persons whose name appears
thereon as signer or signers thereof, when bearing the facsimile or manual signatures of
the Director of Finance, subject to all terms and conditions of the agreements between
the City and the financial institutions.
SECTION 3. That the Director of Finance, Assistant Director of Finance,
the Budget Administrator; the City Manager, and the Assistant City Manager are
authorized to make investment transactions with WAIF. Attachment A to this resolution
lists the current City employees authorized to make investment transactions with LAIF.
SECTION 4. 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hereby repealed or modified to the extent necessary to affect the provisions of the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 5. Resolution Number 10461 (City Council Series) is hereby
repealed.
SECTION 6. 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 S TO F
M rsha es Mo trie
C Att ey
ATTACHMENT 2
ATTACHMENT 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 City:
Name Position Signature
Carol Swindell Director of Finance/City Treasurer ~~
Candace Tysdal Assistant Director of Finance ~~„ AMY
David R. Carr Budget Administrator
Rod Gould City Manager `j
Elaine Polachek Assistant City Manager ~,
Adopted and approved this 22"d day of February, 2011.
=-y.. ~~ "~ L-
Richard Bloom, Mayor
I, Maria M. Stewart, City Clerk of the City of Santa Monica, do hereby certify that
the foregoing Resolution No. 10566 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 22"d day of February, 2011, by the following vote:
Ayes: Councilmembers: Holbrook, McKeown, O'Day, Shriver
Mayor Pro Tem Davis, Mayor Bloom
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: O'Connor
ATTEST:
Maria M. Stewart, Cit Clerk