HomeMy WebLinkAbout1999-01-19; Public Improvement Corporation; Resolution 99-2. . .
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RESOLUTION NO. 99-I
A RESOLUTION OF THE CITY OF CARLSBAD PUBLIC IMPROVEMENT
CORPORATION AUTHORIZING THE ESTABLISHMENT OF AN ACCOUNT
WITH THE LOCAL AGENCY INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was
added to the California Government Code to create a Local Agency Investment Fund in the
State Treasury for the deposit of money of a local agency for purposes of investment by the
State Treasurer; and
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
Section 16429.1 of the Government Code for the purpose of investment as stated herein is
in the best interests of the City of Carlsbad Public Improvement Corporation.
NOW THEREFORE, BE IT RESOLVED as follows by the City of Carlsbad Public
Improvement Corporation:
1. That the above recitations are true and correct.
2. That Section II (B)(l)(e) of the Articles of Incorporation grant the City of Carlsbad
Public Improvement Corporation the power to direct funds.
3. That the Local Agency Investment Funds has determined that the City of Carlsbad
Public Improvement Corporation qualified as a participant pursuant to Chapter 730 of the
statutes of 1976 Section 16429.1.
4. That the Board of Directors does hereby authorize the deposit and withdrawal of
City of Carlsbad Public Improvement Corporation monies in the Local Agency Investment
Fund in the State Treasury in accordance with the provisions of Section 16429.1 of the
Government 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 Bylaws of the City of Carlsbad Public Improvement Corporation, Article
III Section 1, states that the chief financial officer of the City shall act ex o$kio as the
Treasurer of the Corporation.
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6. That the Treasurer of the City of Carlsbad Public Improvement Corporation
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 TITLE SIGNATURE
James M. Stanton City Treasurer
Frank Mannen Assistant City Manager/
Deputy City Treasurer ’
Lisa Hildabrand
Kevin Branca
Nancy Sullivan
Finance Director
Assist. Finance Director
Assist. to the City Treasure
PASSED, APPROVED AND ADOPTED by the Board of Directors at a regular meeting of
the City of Carlsbad Public Improvement Corporation in San Diego County in the State of
California on the 19th day of January , 1999 by the following vote, to wit:
AYES: Board Members Lewis, Hall, Finnila, Nygaard and Kulchin
NOES: None
ABSENT: None
ATTEST:
Aletha Rautenkranz, Secretary