HomeMy WebLinkAboutReso 57-1977 RESOLUTION NO. 57-77
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING DEPOSIT IN AND WITH-
DRAWALS FROM THE LOCAL AGENCY INVESTMENT FUND
(G.C. 16429.1)
WHEREAS, pu~-suant to Chapter 730 of the 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
WHEREAS, the City Council of the City of South San Francisco does
hereby find that the deposit and withdra~l of money in the Local Agency
Investment Fund in accordance with the provisi_o~ of Section 16429.1 of the
Government Code for the purposes of investment as stated therein is in the
best interests of the City of South San Francisco;
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby
authorize the deposit of City moneys not required for immediate needs in the
Local Agency Investment Fund in the State Treasury, and withdrav~l therefrom,
in accordance with the provisions of Section 16429.1 of the Government Code
for the purpose of investment as stated therein;
BE IT FURTHER RESOLVED that the City Treasurer of the City of South
San Francisco, John J. Bonalanza, is hereby authorized to order the deposit
of City moneys not required for immediate needs in the Local Agency Invest-
ment Fund, and withdrawals therefrom.
I hereby certify that the foregoing Resolution was regularly intro-
duced and adopted by the City Council of the City of South San Francisco
le
at a regular
1977, by the following vote:
AYES, COUNCILMEN
I!
NOES,
meeting held on the 18th day of
May
Richard A. Battaglia, William A. Borba, Emanuele N. Damonte,
. .
. .
Terry J~ Mirri and LeO Padreddii
None
ABSENT, " None
ATTEST:~
City Clerk
A pp~7~s t~o form.
~k~q~Noonan, ,~ity Attorney
~II II ll]TI 1111
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