HomeMy WebLinkAbout2006-04-25; Public Financing Authority; Resolution 18EXHIBIT 1
1 RESOLUTION NO. 18
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A RESOLUTION OF THE CARLSBAD PUBLIC FINANCING AUTHORITY
3 AUTHORIZING THE ESTABLISHMENT OF AN ACCOUNT WITH THE LOCAL
AGENCY INVESTMENT FUND
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WHEREAS, pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was
g added to the California Government Code to create a Local Agency Investment Fund in the
7 State Treasury for the deposit of money of a local agency for purposes of investment by the
8 State Treasurer; and
9 WHEREAS, the Board or Directors does hereby find that the deposit and withdrawal
of money in the Local Agency Investment Fund in accordance with the provisions of
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Section 16429.1 of the Government Code for the purpose of investment as stated herein is
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in the best interests of the Carlsbad Public Financing Authority.
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NOW THEREFORE, BE IT RESOLVED as follows by the Carlsbad Financing
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Authority:
1. That the above recitations are true and correct.
16 2. That Article IV, Section 4.03(g) of the Joint Exercise of Powers Agreement grants
17 the Carlsbad Public Financing Authority the power to direct funds.
18 3. That the Local Agency Investment Funds has determined that the Carlsbad Public
Financing Authority qualified as a participant pursuant to Chapter 730 of the statutes of
1976 Section 16429.1.
20 4. That the Board of Directors does hereby authorize the deposit and withdrawal of the
21 Carlsbad Public Financing Authority monies in the Local Agency Investment Fund in the
22 State Treasury in accordance with the provisions of Section 16429.1 of the Government
23 Code for the purpose of investment as stated therein, and verification by the State
Treasurer's Office of all banking information provided in that regard.
5. That the Joint Exercise of Powers Agreement of the Carlsbad Public Financing
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Authority, Article m Section 3.02, states that the Finance Director of the City is designated
as the Treasurer of the Authority.
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6. That the Treasurer of the Carlsbad Public Financing Authority authorized the
following officers of the City or their successors in office to order the deposit or withdrawal
of monies in the Local Agency Investment Fund:
NAME
James M. Stanton
Lisa Hildabrand
Lisa Irvine
Kevin Branca
Nancy Sullivan
TITLE
City Treasurer
Assistant City Manager
Finance Director
Assist. Finance Director
SIGNATURE
Assist, to the City Treasurer/.
Deputy City Treasurer
sCS^^is
/Special
PASSED, APPROVED AND ADOPTED by the Board of Directors at a-regHter meeting of
the Carlsbad Public financing Authority in San Diego County in the State of California on
the 25th day of April 2006 by the following vote, to wit:
AYES: Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None
ABSENT: None
1ST:
aude A. Lewis, President
Lorraine Wood, Secretary