R24 (SA)Successor Agency Meeting: February 24, 2015 Santa Monica, California
RESOLUTION NO. 2.'-I (SA)
A RESOLUTION OF THE SANTA MONICA REDEVELOPMENT SUCCESSOR
AGENCY 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 FOR LAIF ACCOUNT NUMBER 6519064
WHEREAS, Section 16429.1 of the California Government Code
( "Section 16429.1 ") authorizes the creation of a Local Agency Investment Fund ( "LAIF ")
in the State Treasury for the deposit of monies by local agencies for purposes of
investment by the State Treasurer; and
WHEREAS, by enactment of Part 1.85 of the California Health and Safety
Code ( "Part 1.85 "), the Redevelopment Agency of the City of Santa Monica (the
"Agency ") was dissolved as of February 1, 2012; and
WHEREAS, in accordance with Part 1.85, the City of Santa Monica has
declared and named itself as the Santa Monica Redevelopment Successor Agency (the
"Successor Agency") upon dissolution of the Agency; and
WHEREAS, the Successor Agency is a local agency within the meaning of
Section 16429.1; and
WHEREAS, the State Local Agency Investment Fund ( "LAIF ") is
established in the State Treasury under Government Code section 16429.1 et. seq. for
the deposit of money of a local agency for purposes of investment by the State
Treasurer; and
WHEREAS, the Governing Board of the Successor Agency hereby finds
that the deposit and withdrawal of money in LAIF in accordance with Government Code
section 16429.1 et. seq. for the purpose of investment as provided therein is in the best
interests of the City of Santa Monica, and
WHEREAS, the Governing Board of the Successor Agency desires to
authorize the deposit and withdrawal of Successor Agency monies in the LAIF in
accordance with the provisions of Section 16429.1 for the purpose of investment as
stated therein, and verification by the State Treasurer's Office of all banking information
provided in that regard; and
WHEREAS, the State Treasurer requires the Governing Board of the
Successor Agency to designate appropriate persons authorized to conduct LAIF
transactions on behalf of the Successor Agency; and
WHEREAS, the Successor Agency desires to conduct transactions with
LAIF using the former Agency account.
NOW, THEREFORE, THE GOVERNING BOARD OF THE SANTA
MONICA REDEVELOPMENT SUCCESSOR AGENCY DOES RESOLVE AS
FOLLOWS:
SECTION 1. The Governing Board of the Successor Agency hereby
authorizes the deposit and withdrawal of Successor Agency monies in the LAIF account
2
of the former Agency in accordance with the provisions of Section 16429.1 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. The Director of Finance, the Assistant City Treasurer, and
the Principal Treasury Analyst of the City of Santa Monica are authorized to make
investment transactions on behalf of the Successor Agency. Attachment A to this
resolution lists the current persons authorized to make investment transactions on
behalf of the Successor Agency.
SECTION 3. 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.
SECTION 4. Resolution Number 19 (Successor Agency Series) is hereby
repealed in its entirety.
SECTION 5. The City Clerk of the City of Santa Monica 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
J,
Marshal Jones j utrie
Genera Coun a for the anta Monica
Redevelopment Successor Agency
3
LOCAL AGENCY INVESTMENT FUND (LAIF)
AUTHORIZATION FOR TRANSFER OF FUNDS
DATE AGENCY NAME LAIF ACCOUNT #
2/24/15 SIA City of Santa Monica for Santa Monica Redevelopment Agency 65-19-064
AGENCY'S LAIF RESOLUTION If OR RESOLUTION DATE 2124115
Only the following individuals of this agency whose signatures appear in the table below are
hereby authorized on the LAIF account. This authorization suoersedes all prior authorizations on
NAME*
TITLE
SIGNATURE
Gigi Decavalles- Hughes
Agency Treasurer
'
David R. Carr
Assistant Treasurer
GG 2
Vacant
Principal Treasury Analyst
* Please attach additional sheets, if necessary.
Gigi Decavalles- Hughes
PRINT NAME
Agency 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 Treasurer
TITLE
310 -458 -8775
TELEPHONE
Adopted and approved this 24th day of February, 2015.
Kev(n McKeown, Chair
I, Sarah Gorman, Agency Secretary of the City of Santa Monica, do hereby
certify that the foregoing Resolution No. 24 (SA) was duly adopted at the meeting of the
Santa Monica Redevelopment Successor Agency held on the 24th day of February
2015, by the following vote:
Ayes: Agency members: Himmelrich, O'Connor, O'Day, Winterer
Chair McKeown , Chair Pro Tern Vazquez
Noes: Agency members: None
Absent: Agency members: Davis
ATTEST:
Sarah Gorman, Agency Secretary