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RESOLUTION NO. 2023-045 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA AUTHORIZING INVESTMENT <br />OF MONIES IN THE CALIFORNIA CLASS PRIME <br />FUND <br />WHEREAS, The California CLASS Prime Fund (Prime Fund) is an <br />established Joint Powers Authority Pool authorized under Government Code <br />section 53601(p) for the benefit of all public agencies in the State of California that <br />have the authority to invest their treasury funds to preserve principal, provide daily <br />liquidity, earn a competitive rate of return, and maintain a stable Net Asset Value; <br />and <br />WHEREAS, the City Council of the City of Santa Ana hereby finds that the <br />deposit and withdrawal of money in the Prime Fund in accordance with <br />Government Code section 53601(p) for the purpose of investment as provided <br />therein expands diversification of the City's investments and offers the opportunity <br />to optimize interest earnings, while not sacrificing the liquidity of funds, a benefit to <br />the City of Santa Ana. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA AS FOLLOWS: <br />Section 1. The recitals set forth above are true and correct and adopted as <br />findings in support of this Resolution. <br />Section 2. The City Council does hereby authorize the deposit and <br />withdrawal of City of Santa Ana monies in the California CLASS Prime Fund in <br />accordance with the provisions of Government Code section 53601(p) for the <br />purpose of investment as stated therein. <br />Section 3. The following City of Santa Ana officers holding the title(s) <br />specified or their successors in office shall be authorized to order the deposit or <br />withdrawal of monies in the California CLASS Prime Fund and may execute and <br />deliver any and all documents necessary or advisable in order to effectuate the <br />purposes of this Resolution and the transaction contemplated hereby: Executive <br />Director of Finance and Management Services Agency, City Treasurer, Assistant <br />Director of Finance and Management Services Agency, Treasury and Customer <br />Services Manager, or Financial Analyst. <br />Section 4. This Resolution shall take effect immediately upon its adoption <br />by the City Council, and the City Clerk shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this 18'^ day of July, 2023. <br />Resolution No. 2023-045 <br />Page 1 of 2 <br />