R10802Council Meeting: February 25, 2014 Santa Monica, California
RESOLUTION NO. 10802 (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.
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, the Assistant City Treasurer,
and the Principal Budget Analyst, 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 provisions of any resolution inconsistent with the
provisions of this resolution, to the extent of such inconsistencies and no further, are
hereby repealed or modified to the extent necessary to affect the provisions of this
resolution.
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SECTION 5. Resolution Number 10734 (City Council Series) and is
hereby repealed in its entirety.
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
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City
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LOCAL AGENCY INVESTMENT FUND (LAIF)
AUTHORIZATION FOR TRANSFER OF FUNDS
DATE AGENCY NAME
2/25/14 City of Santa Monica
AGENCY'S LAIF RESOLUTION # OR RESOLUTION DATE 2/25/14
LAIF ACCOUNT #
98 -89 -145
Only the following individuals of this agency whose signatures appear in the table below are
hereby authorized on the LAIF account. This authorization supersedes all prior authorizations on
file with LAIF (current authorized individuals not listed below will be deleted).
NAME* TITLE SIGNATURE
Gigi Decavalles- Hughes Treasurer
David R. Carr Assistant City Treasurer
Oscar Santiago Principal Budget Analyst
* Please attach additional sheets, if necessary.
Two authorized signatures required pursuant to your agency's resolution.
SIGNATURE
Gigi Decavalles- Hughes
PRINT NAME
Treasurer
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 04/12
SIGNATURE
David R. Carr
PRINT NAME
Assistant City Treasurer
TITLE
310 - 458 -8775
TELEPHONE
Adopted and approved this 25th day of February, 2014.
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Pam O'Connor, Mayor
I, Sarah P. Gorman, City Clerk of the City of Santa Monica, do hereby certify that
the foregoing Resolution No. 10802 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 25th day of February, 2014, by the following vote:
AYES: Councilmembers: Davis, Holbrook, McKeown, Vazquez, Winterer
Mayor Pro Tern O'Day, Mayor O'Connor
NOES: Councilmember: None
ABSENT: Councilmember: None
ATTEST:
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Sarah P. Gorman, City Clerk