HomeMy WebLinkAbout23095 RESOLUTION NO. 23095
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, AUTHORIZING THE
INVESTMENT, DEPOSIT, AND WITHDRAWAL OF CITY
OF PALM SPRINGS MONIES IN THE INVESTMENT
TRUST OF CALIFORNIA, CARRYING ON BUSINESS AS
CALTRUST. (A6188)
WHEREAS, public agencies which constitute local agencies, as that term is
defined in Section 53630 of the California Government Code, are authorized pursuant to
Section 53601 and/or 53635 thereof to invest all money belonging to, or in the custody
of, the local agency in certain specified investments; and
WHEREAS, the Investment Trust of California, carrying on business as
CalTRUST (the "Joint Powers Authority") was established, pursuant to and in
accordance with the Joint Exercise of Powers Act, by a Joint Exercise of Power
Agreement, made as of February 24, 2005, as amended and restated as of August 4,
2009 (the "Joint Powers Agreement'), as a vehicle for public agencies to jointly exercise
their common power to invest funds in accordance with applicable California law
governing the investment of funds by public agencies; and
WHEREAS, the City of Palm Springs does hereby find that the deposit and
withdrawal of monies in CalTRUST, in accordance with the provisions of Section 53601
and/or 53635 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
CalTRUST in accordance with the provisions of Section 53601 and/or 53635 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 shall be authorized to order the deposit or withdrawal of monies in CalTRUST:
Geoffrey S. Kiehl - Director of Finance and Treasurer
James Thompson - City Clerk
Nancy Klukan - Assistant Director of Finance
Robert Burkholder - Accountant
Resolution No. 23095
Page 2
ADOPTED THIS 15TH DAY OF FEBRUARY, 2012.
David H. Ready, Cit ger
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. 23095 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 February 15, 2012, by the
following vote:
AYES: Councilmember Hutcheson, Councilmember Lewin, Councilmember Mills,
Mayor Pro Tern Foat, and Mayor Pougnet.
NOES: None.
ABSENT: None.
ABSTAIN: None.
ames Thompson, City Clerk
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City of Palm Springs, California pz/Z /