HomeMy WebLinkAbout25125RESOLUTION NO. 25125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, RESCINDING
RESOLUTION NO. 23017 AND AUTHORIZING THE
INVESTMENT, DEPOSIT, AND WITHDRAWAL OF CITY
OF PALM SPRINGS MONIES IN 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 the purposes
of investment by the State Treasurer; and
WHEREAS, the City of Palm Springs does hereby find that the deposit and
withdrawal of monies in 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, to be in the best interests of the City of Palm Springs.
NOW THEREFORE THE CITY COUNCIL DETERMINES, RESOLVES AND
APPROVES AS FOLLOWS:
' SECTION 1. That the deposit and withdrawal of City of Palm Springs 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, is hereby authorized.
SECTION 2. That the following City of Palm Springs Officers or their successors
in office (including that person who is employed to fill the Vacant Assistant Director of
Finance position, below) shall be authorized to order the deposit or withdrawal of
monies in the Local Agency Investment Fund in accordance with the City's Investment
Policy:
City Manager — Scott C. Stiles
Assistant City Manager — Teresa Gallavan
Kristopher J. Mooney - Director of Finance (Acting)
Vacant — Assistant Director of Finance
ADOPTED THIS 29TH DAY OF JUNE 2023.
' Scott C. Stiles, City Manager
Resolution No. 25125
Page 2
ATTEST:
Brenda P(ee, City Clerk
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
CITY OF PALM SPRINGS)
CERTIFICATION
ss.
I, BRENDA PREE, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 25125 is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on June 29, 2023, by the following
vote:
AYES: Councilmembers deHarte,
and Mayor Garner
NOES: None
ABSENT: None
RECUSED: None
Holstege, Middleton; Mayor Pro Tern Bernstein;
IN WITNESS WHEREOF, I have hereuntgg set�y hand and affixed the official seal of
the City of Palm Springs, California, this l o'Z day of July 2023.
O
Brenda Pree, MMC, CERA, City Clerk
City of Palm Springs, California