R10866Council Meeting: February 24, 2015 Santa Monica, Caliform..
RESOLUTION NO. 1046 (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 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 City Council 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 City from time to time establishes and /or closes deposit
and investment accounts with financial institutions; and
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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 Treasury Analyst, are authorized to make investment transactions with
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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.
SECTION 5. Resolution Number 10802 (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
—91v�umal iAw
Marsh Jones outrie
City A ney
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LOCAL AGENCY i
DATE AGENCY NAME
2/24/15 City of Santa Monica
AGENCY'S LAIF RESOLUTION
OR RESOLUTION DATE 2/24/15
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
NAME*
TITLE
1.9raPGi"
Gigi Decavalles- Hughes
Director of Finance /Treasurer
David R. Carr
Assistant City Treasurer
Vacant
Principal Treasury Analyst
* Please attach additional sheets, if necessary.
PRINT NAME
Director of Finance/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 24th day of February, 2015.
Kevin McKeown, Mayor
I, Sarah P. Gorman, City Clerk of the City of Santa Monica, do hereby certify that
the foregoing Resolution No. 10866 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 24th day of February, 2015, by the following vote:
AYES: Councilmembers: Himmelrich, O'Connor, O'Day, Winterer
Mayor McKeown , Mayor Pro Tern Vazquez
NOES: Councilmember: None
ABSENT: Councilmember: Davis
ATTEST:
Sarah P. Gorman, City Clerk