R29 (SA)Attachment C
Successor Agency Meeting: February 23, 2016 Santa Monica, California
RESOLUTION NO. �� (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 ("LAI F") 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 of seq. for
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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 of 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 of the former
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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. That the Director of Finance/City Treasurer and the Assistant City
Treasurer are hereby authorized on behalf of the Successor Agency to order the deposit
or withdrawal of monies in LAIF and may execute and deliver any and all documents
necessary or advisable in order to effectuate the purposes of this resolution and the
transactions contemplated hereby.
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 24 (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
Mars$a Jone " outrie
General Council for the Santa Monica
Redevelopment Success Agency
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Adopted and approved this 231d day of February, 2016.
I, Denise Anderson -Warren, Acting Agency Secretary of the City of Santa
Monica, do hereby certify that the foregoing Resolution No. 29 {SA} was duly adopted
at the meeting of the Santa Monica Redevelopment Successor Agency held on the 231d
day of February 2016, by the following vote:
Ayes: Agency members: Davis, Himmelrich, O'Connor, McKeown
Chair Vazquez, Chair Pro Tem Winterer
Noes: Agency members: None
Absent: Agency members: O'Day
ATTEST:
Denise Anderson -Warren, Acting Agency Secretary