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
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C' y Clerk