HomeMy WebLinkAbout2011-06-21; Municipal Water District; 736; AMEND RESOLUTION 460 TRANSFERS FUND LOCAL AGENCYCARLSBAD MUNICIPAL WATER DISTRICT - AGENDA BILL 18
736
.6/21/11
TRS
AMEND RESOLUTION 460 OF THE
CARLSBAD MUNICIPAL WATER
DISTRICT TO ADD AUTHORIZED
POSITIONS WITHIN THE CITY TO
MAKE TRANSFERS OF FUNDS TO OR
FROM THE LOCAL AGENCY
INVESTMENT FUND
DEFT. DIRECTOR
GB^ COUNSEL
EXEC DIR.
RECOMMENDED ACTION:
Adopt Resolution No.1422 approving the addition of authorized positions within
the City of Carlsbad allowed to make transfers of funds to or from the Local Agency
Investment Fund.
ITEM EXPLANATION:
LAIF is an investment alternative for California's local governments and special districts. It was
created by statute in 1977 and is managed by the State Treasurer's office.
The City Treasurer invests all of the inactive cash for the City and its agencies. One short-term
investment alternative available to the City Treasurer is the Local Agency Investment Fund
(LAIF). The City Treasurer currently uses five LAIF accounts for short-term investments. Each
LAIF account is limited to a maximum of $50 million.
The staff at LAIF has been reviewing and updating their records. The authorized position titles
on the original resolutions no longer match the titles of the current personnel authorized to make
transfers to and from the LAIF accounts. LAIF has asked that our resolutions be updated to
reflect the changes within the City and the Water District.
FISCAL IMPACT:
The addition of or title changes of personnel authorized to make transfers of funds to or from
LAIF will have no fiscal impact on the Carlsbad Municipal Water District or the City.
ENVIRONMENTAL IMPACT:
Pursuant to Public Resources Code section 21065, this action does not constitute a "project"
within the meaning of CEQA in that it has no potential to cause either a direct physical
change in the environment, or a reasonably foreseeable indirect physical change in the
environment, and therefore does not require environmental review.
DEPARTMENT CONTACT: N. Sullivan 760-602-2473 nancy.sullivan@carlsbadca.gov
FOR SECRETARY'S USE ONLY.
BOARD ACTION: APPROVED
DENIED
WITHDRAWN
AMENDED
D
D
D
CONTINUED TO DATE SPECIFIC D
CONTINUED TO DATE UNKNOWN D
RETURNED TO STAFF D
BOARD RECEIVED THE D
REPORT/PRESENTATION
OTHER - SEE MINUTES D
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EXHIBITS:
1. Resolution No. 1422 approving the addition of positions within the City
authorized to make transfers of funds to or from the Local Agency Investment Fund for
the Carlsbad Municipal Water District.
2. Copy of Resolution No. 460.
RESOLUTION NO. 1422
RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD
2 MUNICIPAL WATER DISTRICT, CARLSBAD CALIFORNIA, AMENDING
RESOLUTION No. 460, ADOPTED FEBRUARY 20, 1985, WHICH
3 AUTHORIZED INVESTMENT OF CARLSBAD MUNICIPAL WATER
DISTRICT MONIES IN THE LOCAL AGENCY INVESTMENT FUND4
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WHEREAS, the Carlsbad Municipal Water District does from time to time invest
monies in the Local Agency Investment Fund as authorized by Resolution No. 460
adopted on 20th of February, 1985; and
8 WHEREAS, the City Treasurer desires to occasionally delegate the duties of
9 making transfers of funds to or from the Local Agency Investment Fund in addition to
10 the officers listed in Resolution No. 460.
11 NOW, THEREFORE, BE IT RESOLVED that
1. The above recitations are true and correct.12
2. Resolution No. 460 is amended to authorize the following positions within the City
13 of Carlsbad to make deposits or withdrawals of monies in the Local Agency
14 Investment Fund for the Carlsbad Municipal Water District: City Treasurer, Deputy
15 City Manager, Deputy City Treasurer, and Assistant to the City Treasurer, Finance
16 Director and Assistant Finance Director.
17 3. This authorization supersedes and replaces any previous authorizations.
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PASSED, APPROVED AND ADOPTED at a Special Meeting of the Board of
Directors of the Carlsbad Municipal Water District of the City of Carlsbad on the 21st day
of June 2011, by the following vote to wit:
AYES: Board Members Hall, Kulchin, Blackburn, Douglas, Packard.
NOES: None.
ABSENT: None.
ATTEST:
LXDRR^INE M. WOOD, Secretary
(SEAL)
EXHIBIT 2
RESOLUTION NO. 460
RESOLUTION OF THE BOARD OF DIRECTORS Of
COSTA REAL MUNICIPAL WATER DISTRICT
AUTHORIZING INVESTMENT OF COSTA REAL MUNICIPAL
WATER DISTRICT MONIES IN
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, COSTA REAL MUNICIPAL WATER DISTRICT does
hereby find that the deposit in and withdrawal of money from the
Local Agency Investment Fund in accordance with the provisions of
Section 16429.1 of the Government Code for the purposes of
investment as stated therein as in the best interests of COSTA
REAL MUNICIPAL WATER DISTRICT.
NOW , THEREFORE, BE IT RESOLVED that the Board of
Directors does hereby authorize the deposit and withdrawal of
COSTA REAL MUNICIPAL WATER DISTRICT 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.
BE IT FURTHER RESOLVED that each of the following two
officers or their successors in office shall be authorized to
order the deposit or withdrawal of monies in the Local Agency
Investment Fund.
Susan M. Haasl, Treasurer , ./
Thomas L. Brammell. Controller
ADOPTED, SIGNED AND APPROVED this 20th day of February,
1985.
J. BqjwrS'7 Presidentof CO_STA REAL MUNICIPAL WATER DISTRICT
and the Board of Directors thereof
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