2008-003 - Investment of Monies in the State Treasurer's Local Agency Investment Fund

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Lss 122707 RESOLUTION NO. 2008-003 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE INVESTMENT OF MONIES IN THE STATE TREASURER'S LOCAL AGENCY INVESTMENT FUND AND DESIGNATING THE DIRECTOR OF FINANCE / CITY TREASURER AND/OR THE ASSISTANT FINANCE DIRECTOR AND/OR THE TREASURY MANAGER TO MAKE DEPOSITS AND WITHDRAWALS OF SAID FUNDS BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: A. Pursuant to California Government Code 9916429.1 et seq., the California Legislature has created the Local Agency Investment Fund (LAIF) in the State Treasury. B. The City of Santa Ana has authorized, by Resolution 84-148, participation in the State Treasure's Local Agency Investment Fund. Section 2. The City Council of the City of Santa Ana authorizes the deposit in the Local Agency Investment Fund, of the proceeds of the issuance of bonds, notes, certificates of participation or other evidences of indebtedness of the City pending the expenditure of the proceeds for their authorized purpose. Section 3. The City Council authorizes the Executive Director of Finance and Management Services, Francisco Gutierrez and/or the Assistant Director of Finance and Management Services, Pamela Arends-King, and/or the Treasury Manager, Christine Duarte, or their duly appointed successors, to order deposits to and withdrawals of money from the Local Agency Investment Fund for and on behalf of the City. Section 4. A certified copy of this Resolution shall be delivered to the California State Treasurer. Section 5. This Resolution shall take effect immediately upon its adoption by the City Council, and the Clerk of the Council shall attest to and certify the vote adopting this Resolution. Resolution No. 2008-003 Page 1 of 2