2.01.002_Authorizing Certain Positions to Invest funds on Behalf of the CityDate:
To:
Policy #: 2.01.002
Type: City Council
CITY OF ROHNERT PARK
Effective Date: 2006
OFFICE OF THE CITY CLERK Former Policy #: 415.4.2
* * * City Clerk Use Only * * *
NOTICE OF COUNCIL/CDC MEETING ACTION
January 17, 2006
Sandy Lipitz, Director of Administrative Services
For Agenda Title: Authorizing Certain Positions to Invest Funds on Behalf of the City and to
Open Accounts with Financial Institutions
Meeting Date: January 10, 2006
Agenda Item No: #6 — Consent Calendar
Council Action: Approved as Submitted
Vote: 5-0
Resolution No:
200640 Authorizing Certain Positions to Invest Funds on Behalf of the City and to
Open Accounts with Financial Institutions
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,
Ellen Beardsley, Deputy City Clerk
for Judy Hauff, City Clerk
cc: Barbara Galaudet, Accounting Services Supervisor
FILE = City Policy Binder — 415.4.2 Finance and Accounting
FILE - Council Agenda Chron File
WAgenda Council Action`Agenda Council Action 2006\011006 Council Agenda Action.doc
FOR RESO. NO. 4006 /a
CITY OF ROHNERT PARK I A91
COUNCIL AGENDA ITEM TRANSMITTAL REPOR Co to:
Department: Finance
Submitted By: Sandy Lipitz
Submittal Date: December 13, 2005
Agenda Title: Authorizing Certain Positions with the Power to Invest
Monies in Accounts with Financial Institutions
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 with Financial Institutions. The City
prepared a resolution authorizing certain City positions with the authority to open necessary accounts with
financial institutions and to invest idle funds. 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.
CITY MANAGER'S RECOMMENDATION: Consent Item
{�l Approval () Public Hearing Required
() Not Recommended
O Submitted with Comment
O Policy Determination by Council
() City Comments- . —% t
City Manager's S
jt-n:\stietts\council agencla transmittal
Date:
() Regular Time
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41,
RESOLUTION NO. 2006- 10
A RESOLUTION OF THE CITY OF ROHNERT PARK AUTHORIZING CERTAIN POSITIONS
TO INVEST FUNDS ON BEHALF OF THE CITY AND TO OPEN ACCOUNTS WITH
FINANCIAL INSTITUTIONS
WHEREAS, the City of Rohnert Park frequently invests idle funds
..with financial institutions such as commercial banks and savings and
loans and to do so must open accounts with such institutions; and
WHEREAS, these financial institutions often require a resolution
from the City to authorize certain individuals to make investment
decisions on behalf of the City.
NOW, THEREFORE BE IT RESOLVED by the Council of the City of
Rohnert Park that the following positions are authorized to open
necessary accounts with financial institutions and to invest idle funds
for the City of Rohnert Park and/or its agencies:.
City Manager
Director of Administrative Services
Accounting Services Supervisor
BE IT FURTHER RESOLVED that the past City policy of requiring
signatures of any two of the above employees for withdrawal of any
funds is hereby ratified and approved.
DULY AND REGULARLY ADOPTED this 10th day of January, 2006.
City of Rohnert Park
hyo Tim Smith
ATTEST:
City Clerk
BREEZE: AYE FLORES: AYE MACKENZIE: AYE VIDAK-MARTINEZ: AYE SMITH: AYE
AYES: (5) NOES: (0) ABSENT: (0) ABSTAIN: (0)