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HomeMy WebLinkAboutReso - CC - 014-2016RESOLUTION NO. 14-2016 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME AUTHORIZING INVESTMENT OF MONIES IN THE STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND WHEREAS, pursuant to Government Code sections 16429.1 to 16429.4, the State has created a Local Agency Investment Fund in the Treasury of the State of California for the deposit of money of local agencies for the purposes of investment with the California State Treasurer; and WHEREAS, City Council of the City of Burlingame hereby reaffirms that the deposit and withdrawal of money into and out of the Local Agency Investment Fund in accordance with the provisions of the California Government Code and the City of Burlingame's Investment Policy, are in the best interest of the City of Burlingame; NOW, THEREFORE, the City Council of the City of Burlingame does resolve as follows: 1. The City Council authorizes the deposit and withdrawal of funds of the City of Burlingame into and out of the Local Agency Investment Fund in the California State Treasury in accordance with the provisions of the California Government Code 16429.1 for the purpose of investment as stated herein, and further, the City Council authorizes the State Treasurer's Office to verify all banking information provided in that regard. 2. The City Council authorizes the following City officers or their successors in office, to deposit or withdraw City of Burlingame funds into or out of the Local Agency Investment Fund: CAROL AUGUSTINE FARIBA GHAHEMANI MARGARET ONO Hance 'rector Deputy Finance Director Accounting TeOA4 ian 3. T e City Council directs that these authorizations and designations shall emain in effect until such time as the City notifies the Local Agency Investment Fund in writing of an changes. ANN KEIGHRAN, I, Meaghan Hassel -Shearer, City Clerk of the City of Burlingame, do hereby certify that the foregoing Resolution was introduced at a regular meeting of the City Council held on the 16th day of February, 2016, and was adopted thereafter by the following vote: AYES: COUNCILMEMBERS: gLva�HW�DLZrRt c_a—ao , KEac�waan, pgr,L NOES: COUNCILMEMBERS:n�E ABSENT: COUNCILMEMBERS:nor.,_= MEAL A HAS EL -SHEARER, City Clerk