HomeMy WebLinkAboutReso 92-1986RESOLUTION NO. 92-86
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING DEPO
DRAW~LS FROM THE LOCAL AGENCY
(G.C. S~CTION 164
~IT IN AND WITH-
INVESTMENT FUND
29.1)
WHEREAS, Section 16429.1 of the Governmen~ Code provides for 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 has pre-
viously found that the deposit and withdrawal Of money in the Local Agency
Investment Fund in accordance with provisions Of Section 16429.1 of the
Government Code for the purposes of investmentias stated therein is in the
best interests of the City of South San FranciSco and does hereby reaffirm
that finding;
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby
authorize the deposit of City moneys not required for in~nediate needs in the
Local Agency Investment Fund in the State TreaSury, and withdrawal therefrom,
in accordance with the provisions of Section 16429.1 of the Government Code
for the purpose of investment as stated therein.
BE IT FURTHERRESOLVED that the City TreaSurer of the City of South
San Francisco, Beverly Bonalanza Ford, is hereby authorized to order the
deposit of City moneys not required for in~ediate needs in the Local Agency
Investment Fund, and withdrawals therefrom.
I hereby certify that the foregoing ResolUtion was regularly introduced
and adopted by the City Council of the City ofI F~Duth San Francisco at a
reglilar meeting held on the 14th ~ay of May
1986, by the following vote:
AYES:
NOES:
Cnuncilm~mber.s Mark N. Addiego, QiQhn "Jack" Drago, Richard A. Haffey,
O~uq Nirnlnpulns and Rnberta £~rrii Teglia
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