HomeMy WebLinkAboutCity Council Resolution 04-083RESOLUTION N0.04-083
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
PROVIDING CERTAIN CITY OF SARATOGA POSITIONS AUTHORITY TO
DEPOSIT OR WITHDRAW MONIES IN THE LOCAL AGENCY INVESTMENT
FUND FOR THE CITY OF SARATOGA.
The City Council of the City of Saratoga DOES RESOLVE as follows:
A. WHEREAS, pursuant to Chapter 730 of the statues 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 the
purposes of investment by the State Treasurer:
B. WHEREAS, the City Council of the City of Saratoga hereby finds that
the deposit and withdrawal of money in the Local Agency Investment Fund in
accordance with the provision of Section 16429.1 of the California Government Code for
the purpose of investment as stated therein is in the best interest of the City of Saratoga.
NOW, THEREFORE, the City Council of the City of Saratoga finds and
determines as follows:
Section 1. Findin
The recitals set forth are true and correct statements and are hereby
incorporated.
Section 2. Authorizations.
A. The City Council does hereby authorize the deposit and withdrawal of
City of Saratoga monies in the Local Agency Investment Fund in the State Treasury in
accordance with the provisions of Section 16429.1 of the California 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.
B. The City Council further authorizes the following City of Saratoga officers
or their successors in office to order the deposit or withdrawal of monies in the Local
Agency Investment Fund:
1.
Dave Anderson, City Manager
2.
Lorie Tinfow, Assistant City Manager
3.
4.
Michele Braucht, Administrative Services Director
Cathleen Boyer, City Clerk
The above and foregoing resolution was passed and adopted at a regular meeting of the
Saratoga City Council held on the 20`h day of October, 2004, by the following vote:
AYES: Councilmembers Stan Bogosian, Norman Kline, Nick Streit,
Vice Mayor Kathleen King, mayor Ann Waltonsmith
NOES: None
ABSENT: None
ABSTAIN: None //.--, '-~
114.. Ann Waltonsmith, Mayor
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