HomeMy WebLinkAbout23175 RESOLUTION NO. 23175
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, ACTING SOLEY IN ITS
CAPACITY AS SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT
AGENCY AUTHORIZING THE INVESTMENT, DEPOSIT,
AND WITHDRAWAL OF CITY OF PALM SPRINGS
SUCCESSOR AGENCY 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 and the
Successor Agency to the Palm Springs Community Redevelopment Agency.
NOW THEREFORE THE CITY COUNCIL DETERMINES, RESOLVES AND
APPROVES AS FOLLOWS:
SECTION 1. The deposit and withdrawal of City of Palm Springs Successor
Agency 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. The following City of Palm Springs officers or their successors in
office shall be authorized to order the deposit or withdrawal of monies in the Local
Agency Investment Fund as the Successor Agency to the Palm Springs Community
Redevelopment Agency:
Geoffrey S. Kiehl - Director of Finance and Treasurer
James Thompson - City Clerk
Nancy Klukan - Assistant Director of Finance
Robert Burkholder- Accountant (Deputy Treasurer)
SECTION 3. In retaining the responsibilities of the Palm Springs Community
Redevelopment Agency as provided in California Health and Safety Code §§ 34173 and
34176, the City Council expressly determines, recognizes, reaffirms, and ratifies the
statutory limitation on the City and the City Council's liability in retaining the
responsibilities of the Palm Springs Community Redevelopment Agency pursuant to
AB 1X26. Nothing in this Resolution shall be construed as a commitment, obligation, or
Resolution No. 23175
Page 2
debt of the City or any resources, funds, or assets of the City to fund the City's service
as the successor agency to the Palm Springs Community Redevelopment Agency as
provided in this Resolution.
PASSED, APPROVED AND ADOPTED BY THE PALM SPRINGS CITY
COUNCIL THIS 20TH DAY OF JUNE, 2012.
David H. Ready, i nager
ATTEST:
mes Thompson, City Clerk
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 23175 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 20, 2012, by the
following vote:
AYES: Councilmember Hutcheson, Councilmember Lewin, Councilmember Mills,
Mayor Pro Tern Foat, Mayor Pougnet.
NOES: None.
ABSENT: None.
ABSTAIN: None.
J mes Thompson, City Clerk 1 I
City of Palm Springs, Californiaab/o- ?ot Z