HomeMy WebLinkAboutCity Council - 2003-54 RESOLUTION NO. 2003--54
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH EXPRESSING ITS INTENTION TO
PARTICIPATE IN THE STATE TREASURER'S LOCAL AGENCY
INVESTMENT FUND AND AUTHORIZING THE CITY TREASURER
TO MAKE DEPOSITS AND WITHDRAWALS FROM SAID FUND
WHEREAS, Section 16429.1, of the Government Code created a Local Agency
Investment Fund in the State Treasury for the deposit of money of a local agency for purposes
of investment by the State Treasurer; and
With the approval of its governing body, any local government agency having money
in its treasury not required for immediate needs may remit such money to the State Treasury
for deposit in the Local Agency Investment Fund for the purpose of investment; and
Money in the fund shall be invested to achieve the objective of maximum return
consistent with safe and prudent treasury management; and
Before any deposits will be accepted, the local government agency must file a
resolution with the State Treasurer; and
The City Council does hereby find that the deposit and withdrawal of money in the
Local Agency Investment Fund in accordance with the provisions of Government Code
Section 16429.1 for the purposes of investment as stated therein is in the best interests of
Huntington Beach,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Huntington Beach that it desires to participate in the State Treasurer's Local Agency
Investment Fund and does hereby authorize the deposit and withdrawal of Huntington Beach
monies in the Local Agency Investment Fund in the State Treasury in accordance with the
provisions of Section 16429.1 of the Government Code for the purpose of investment as
stated therein, and verification by the State Treasurer's office of any banking information
provided in that regard.
BE IT FURTHER RESOLVED that Shari Freidenrich, City Treasurer of the City of
Huntington Beach, is hereby authorized to order the deposit or withdrawal of monies the
Local Agency Investment Fund.
03reso/local agencyM2/03 1
Resolution No. 2003-54
The City Clerk is directed to send a certified copy of this resolution to the Treasurer of
the State of California.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 21 day of July , 2003
Mayor
ATTEST: APPROVED AS TO FORM:
i
City Clerk 3 ity Attorney �IdZj
REVIEWED REVIEWED7W 4PP OVED: INITIATED AND APPROVED:
City Administrator Tre ur
03resoAocal agency/7/2/03 2
Res. No. 2003-54
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, CONNIE BROCKWAY, the duly elected, qualified City Clerk
of the City of Huntington Beach, and ex-officio Clerk of the City Council of
said City, do hereby certify that the whole number of members of the City
Council of the City of Huntington Beach is seven; that the foregoing resolution
was passed and adopted by the affirmative vote of at least a majority of all the
members of said City Council at a regular meeting thereof held on the
21th day of July, 2003 by the following vote:
AYES: Sullivan, Coerper, Green, Boardman, Cook , Houchen, Hardy
NOES: None
ABSENT: None
ABSTAIN: None
4�'Wc� ocjv'�y—
City Clerk and ex officio Clerk of the
City Council of the City of
Huntington Beach, California