HomeMy WebLinkAboutCity Council - 2011-51 RESOLUTION NO. 2011-51
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH AUTHORIZING INVESTMENT
OF MONIES IN THE LOCAL AGENCY INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the State of California statutes of 1976, Section
16429.1 was added to the California Government Code to create 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
The City Council of the City of Huntington Beach does hereby find that the deposit and
withdrawal of money in the Local Agency Investment Fund in accordance with the provisions of
Section 16429.1 of the Government Code for the purpose of investment as stated therein, is in
the best interests of the City.
NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby
resolve as follows:
That the City Council does hereby authorize the deposit and withdrawal of City monies in
the Local Agency Investment Fund in the State Treasury in accordance with the provisions of
Government Code Section 16429.1 for the purposes of investment as stated therein, and
verification by the State Treasurer's Office of all banking information provided in that regard.
IT IS FURTHER RESOLVED that the City Treasurer (Alisa Cutchen) or his/her
successors in office is hereby authorized to order the deposit or withdrawal of monies in the
Local Agency Investment Fund.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 1 s t day of August , 20 11
REVIE D AN D APPROVED: INITIATED AND APPROVED:
CYIAVager Finance irector
APPROVED AS TO FORM:
�- City Attorney
66608
Res. No. 2011-51
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN 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 August 1, 2011 by the following vote:
AYES: Shaw, Harper, Hansen, Carchio, Bohr, Dwyer, Boardman
NOES: None
ABSENT: None
ABSTAIN: None
Ci lerk and ex-officio Jerk of the
City Council of the City of
Huntington Beach, California