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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