HomeMy WebLinkAboutRESO 5394RESOLUTION NO. ORIGINAL
RESOLUTION or THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING !NVESTMENT OF CITY MONIES IN LOCAL AGENCY
INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the Statutes of 1976,
Section 16429.l was added to the California Government Code to
create a Local Agency Investment Fund in the State Ti·easury for
the deposit of money of a local agency for purposes of investment
by the State Treasw:eJ:.e and
WHEREAS, the Council of the City of Palo Alto hereby finds that
the deposit and withdrawal of money in the Local Aqency Investment
Fund in accordance with the provisions of Section 16429.1 of the
Government Code for the purposes of investment as stated therein
as in the best interests of the City of Palo Alto;
. -NOW, THEREFORE, BE IT RESOLVED t~at the Council does hereby
authorize the deposit and withdrawal 'of city monies in the Local
Agency InveatmentFund 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.
BE IT FURTHER RESOLVED that the following city officers or
their successors in office shall be· authorized to order the
deposit or withdrawal of monies in. the Local Agency Investment
Fund:
Jiunes B. Hudak, City Treasurer
Shannon Feisel, Supervisor, Revenue Collections
Ron Starr, Supervisor, Utility Services
Sandi Benedict, Plant Accountant
The Council hereby f in<is that this is not a project as
defined by Section ll.04.130 of the Palo Alto Municipal Code,
and therefore no environmental impact assessment is necessary.
INTRODUCED AND PASSED: Kay 2, 1977
AYES:•--~---, •--•-i care 1 •-Sher -.&LLD .-=...-wa.ua, y, Eyer y, au,1;1.0U, 7 Wi.Cherspoon
NOES; Rone
ABS_ENT: Clay," Caaatock
ABSTAINED: Hone
APPROVED:
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citiPCQntiiSiier
--ci~reasurer