2.01.003_Authorizing Certain Positions with the Power to Invest Monies in Local Agency Investment FundDate:
To:
CITY OF ROHNERT PARK
OFFICE OF THE CITY CLERK
* * * City Clerk Use Only * * *
Policy #: 2.01.003
Type: City Council
Effective Date: 2006
Former Policy #: 415.4.3
NOTICE OF COUNCIL/CDC MEETING ACTION
January 17, 2006
Sandy Lipitz, Director of Administrative Services
For Agenda Title: Authorizing Certain Positions with the Power to Invest Monies in the Local
Agency Investment Fund
Meeting Date: January 10, 2006
Agenda Item No: #6 — Consent Calendar
Council Action: Approved as Submitted
Vote: 5-0
Resolution No:
2006-11 Authorizing Certain Positions with the Power to Invest Monies in the Local
Agency Investment Fund
The City Council approved the above item authorizing you to proceed with the appropriate
follow-up and handling process. The enclosed documents below are provided for this purpose:
• Transmittal Report provided to Council for this agenda item.
• Resolution/executed
Thank you,
wz") (Y�
Ellen Beardsley, Deputy City Clerk
for Judy Hauff, City Clerk
cc: Barbara Galaudet, Accounting Services Supervisor
FILE — City Policy Binder 415.4.3 Finance and Accounting
FILE - Council Agenda Chron File
M:\Agenda Council Action\Agenda Council Action 2006\011006 Council Agenda Action.doc
Council:
FOR RESO. NO. ZOO& '4ii'
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CITY OF ROHNERT PARKA 4
Co to:
COUNCIL AGENDA ITEM TRANSMITTAL REPORT Conv to:
Department: Finance
Submitted By: Sandy Lipitz
Submittal Date: December 13, 2005
Agenda Title: Authorizing Certain Positions with the Power to Invest
Monies in the Local Agency Investment Fund
Requested Council Action: Approve Resolution
***City Clerk Use Only***
Meeting Date Held Until
01/10/06
Item No.
Date of Action:
Deadline Date for:
Council Action:
Summary: The City's Investment Policy authorizes investments in the State of California Local Agency
Investment Fund. The City currently invests idle, cash from the City and the Community Development
Commission in this fund. The City prepared a resolution authorizing certain City positions with the authority to
invest monies in LAIF. However, LAIF is requiring a separate resolution authorizing officers of the City of
Rohnert Park to invest in LAIF. Staff has prepared a resolution authorizing the City Manager, Director of
Administrative Services and the Accounting Services Supervisor with the authority to invest City funds in
LAIF.
CITY MANAGER'S RECOMMENDATION: -(I Consent Item O Regular Time
(� Approval () Public Hearing Required
O Not Recommended
O Submitted with,Comment
() Policy Determination by Council
O City Comments:n
City Manager's Signature:
JH-h:\shells\council agenda transmittal
Date:
RESOLUTION NO. 2006-11
RESOLUTION OF THE CITY OF ROHNERT PARK AUTHORIZING CERTAIN
POSITIONS WITH THE POWER TO INVEST MONIES IN THE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, Pursuant 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 investments by
the State Treasurer; and
WHEREAS, the City of Rohnert Park 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 as
in the best interest of the City.
NOW THEREFORE, BE IT RESOLVED that the City of Rohnert Park
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 Section 16429.1 of the Government
Code for the purpose of investment as stated therein, and
verification by the State Treasurer's Office of all banking
information provided in that regard.
BE IT FURTHER RESOLVED, that the following City positions of
the City of Rohnert Park shall be authorized to order the deposit
or withdrawal of monies in the Local Agency Investment Fund:
City Manager
Director of Administrative Services
Accounting Services Supervisor
DULY AND REGULARLY ADOPTED this 10th day of January, 2006.
ATTEST
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City
---------- City Clerk
CITY OF ROHNERT PARK
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Mayor Tim Smith
BREEZE: AVE FLORES: AVE MACKENZIE: AVE
VIDAK-MARTINEZ: AYE SMITH: AYE
AYES: (5) NOES: (0) ABSENT: (0) ABSTAIN: (0)