HomeMy WebLinkAboutReso 59-2018 (18-288)City of South San Francisco
- P.O. Box 711 (City Hall,
400 Grand Avenue)
South San Francisco, CA
City Council
Resolution: RES 59 -2018
File Number: 18 -288 Enactment Number: RES 59 -2018
RESOLUTION AUTHORIZING INVESTMENT OF MONIES IN THE
LOCAL AGENCY INVESTMENT FUND.
WHEREAS, The Local Agency Investment Fund 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/Board of Directors hereby finds that the deposit and withdrawal of money
in the Local Agency Investment Fund 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 South San Francisco.
NOW THEREFORE, BE IT RESOLVED, that the City Council of the City of South San Francisco
hereby authorizes the deposit and withdrawal of City monies in the Local Agency Investment Fund in
the State Treasury in accordance with Government Code section 16429.1 et. seq. for the purpose of
investment as provided therein.
BE IT FURTHER RESOLVED, as follows:
Section 1. The following City officers holding the title(s) specified herein below or their successors in
office are each hereby authorized to order the deposit or withdrawal of monies in the Local Agency
Investment Fund 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:
City Treasurer
Director of Finance
Financial Services Manager
Section 2. This resolution shall remain in full force and effect until rescinded by City Council by
resolution and a copy of the resolution rescinding this resolution is filed with the State Treasurer's
Office.
City of South San Francisco Page 1
File Number: 18 -288
Enactment Number. RES 59 -2018
At a meeting of the City Council on 4/11/2018, a motion was made by Mark Addiego, seconded by Pradeep
Gupta, that this Resolution be adopted. The motion passed.
Yes: 3 Mayor Normandy, Councilmember Gupta, and Councilmember Addiego
Absent: 2 Mayor Pro Tem Matsumoto, and Councilmember Garbarino
Attest by
City of South San Francisco Page 2