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HomeMy WebLinkAboutReso - CC - 028-1977RESOLUTION NO. 28 - 77 RESOLUTION AUTHORIZING CITY TREASURER TO DEPOSIT REVENUE SHARING FUNDS IN THE LOCAL AGENCY INVESTMENT FUND RESOLVED by the CITY COUNCIL of the City of Burlingame, as follows: WHEREAS, Chapter 730 of the Statutes of the State of California of 1976 established the LOCAL AGENCY INVESTMENT FUND whereby local agencies may deposit funds with the State of California, which funds will be invested on behalf of such local agencies and the interest upon such funds shall be credited to local agencies; and WHEREAS, it may be necessary and desirable from time to time that funds of the City of Burlingame be deposited as hereinabove set forth; and WHEREAS, it is the intention of this Council to authorize the City Treasurer of the City of Burlingame to make such deposits; NOW, THEREFORE, it is hereby ORDERED AND DETERMINED that the City Treasurer of the City of Burlingame is authorized to remit Revenue Sharing Funds in the City Treasury of the City of Burlingame not required for immediate needs in such amounts as he may deem advisable for deposit in the LOCAL AGENCY INVESTMENT FUND for the purposes as set forth in Section 16429.1, et seq., of the Government Code as adopted by Chapter 730 of the Statutes of 1976. yor I, EVELYN H. HILL, 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 4th day of April, 1977, and adopted thereafter by the following vote: AYES: COUNCILMEN: Amstrup-Crosby-Harrison-Mangini-Martin NOES: COUNCILMEN: None ABSENT: COUNCILMEN: None 3122177 C' y Clerk