r-10660Council Meeting: February 28, 2012 Santa Monica, California
RESOLUTION NO. }0660 (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:
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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.
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 Treasury Administrator, the 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 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hereby repealed or modified to the extent necessary to affect the provisions of the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.
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SECTION 5. Resolution Number 10566 (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 AS TO FORM
rril � il 4 4 U &/�1 &
Mar a Jq s Moutri
City Attorn
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LOCAL AGENCY INVESTMENT FUND (LAIF)
AUTHORIZATION FOR TRANSFER OF FUNDS
�. 2
February 28, 2012
AGENCY'S LAIF RESOLUTION
AGENCY NAME
City of Santa Monica
OR RESOLUTION DATE 2/28/12
LAIF ACCOUNT #
9819845
I /we hereby designate the officers of this agency whose signatures appear below to be
authorized on the LAIF account. This authorization supersedes all prior authorizations on file
with LAIF.
NAME*
Villa
11Cal12flulp7l
Gigi Decavalles- Hughes
Director of Finance
i
Donald Patterson
Assistant Director - Finance
David R. Carr
Treasury Administrator
Rod Gould
City Manager
- -��
Elaine Polachek
Assistant City Manager
*Please attach additional sheets, if necessary.
Gigi Decavalles- Hughes
PRINT NAME PRINT NAME
Director of Finance
TITLE
310 -458 -8281
TELEPHONE
Mail completed form to:
State Treasurer's Office
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209 -0001
Revised 01/12
TITLE
TELEPHONE
Adopted and approved this 28th day of February, 2012.
Richard Bloom, Mayor
I, Denise Anderson - Warren, Assistant City Clerk of the City of Santa Monica, do
hereby certify that the foregoing Resolution No. 10660 (CCS) was duly adopted at a
meeting of the Santa Monica City Council held on the 28th day of February, 2012, by the
following vote:
Ayes: Councilmembers: McKeown, O'Day, O'Connor, Holbrook, Shriver,
Mayor Pro Tern Davis, Mayor Bloom
Noes: Councilmembers: None
Absent: Councilmembers: None
ATTEST:
Denise Ande sr on Warren, Assistant City Clerk