HomeMy WebLinkAboutReso - CC - 067-2018RESOLUTTON NO. 067-20't8
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 Govemment Code sections 16429.1 lo 16429.4, the State has
created a Local Agency lnvestment Fund in the Treasury of the State of California for the deposit of
money of local agencies forthe purposes of investment with the California State Treasurer; and
WHEREAS, the City Council of the City of Burlingame hereby reaffirms that the deposit and
withdrawal of money into and out of the Local Agency lnvestment Fund in accordance with the
provisions of the Califomia Govemment Code and the City of Burlingame's lnvestment Policy are in
the best interest of the City of Burlingame;
1. The City Council authorizes the deposit and withdrawal of funds of the City of Burlingame
into and out of the Local Agency lnvestment Fund in the California State Treasury in
accordance with the provisions of the Califomia Govemment Code 16429.1 for the
purpose of investment as stated herein, and further, the City Council authorizes the State
Treasureds ffice 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 lnvestment
Fund:
CAROL AUGUSTINEfrnce Director
KAREN HUANG
Deputy Finance Director
MARGARET ONO
Accounting
, BROWNRIGG, CO HRAN
an
3. The City Council directs that these authorizations and designations shall remain in effect
until such time as the City notifies the Local Agency lnvestment Fund in writing of any
changes.
MICHAEL NRI IU r
l, Meaghan Hassel-Shearer, City Clerk of the City of Burlingame, cert at the foregoing
Resolution was introduced at a regular meeting of the City Council held on the 21"1 day of May, 2018,
and was adopted thereafter by the following vote:
AYES:
NOES:
ABSENT
'y"yCOUNCILMEMBERS: BEACH
COUNCILMEMBERS: NONE
COUNCILMEMBERS: ORTIZ
EL-SHEARER, City Clerk
NOW, THEREFORE, the City Council of the City of Burlingame resolves as follows: