2012-081 Local Agency Investment Fund RESOLUTION 2012-81
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ENCINITAS AUTHORIZING THE INVESTMENT OF MONIES
IN THE STATE OF CALIFORNIA LOCAL AGENCY
INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the statutes of 1976, Section 16429 1
was added to the California Government Code (the "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, the City Council does hereby find that the deposit and withdrawal of
money in the Local Agency Investment Fund in accordance with the provisions of Section
16429 1 of the Code for the purpose of investment as stated therein is in the best interest of the
City of Encinitas
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ENCINITAS AS FOLLOWS:
Section 1 The City Council does hereby authorize the deposit and
withdrawal of City of Encinitas monies in the Local Agency Investment Fund in the State
Treasury, in accordance with the provisions of Section 16429 1 of the Code for the purpose of
investment as stated therein, and verification by the State Treasurer's Office of all banking
information provided in that regard.
Section 2 The City Council does hereby designate the following City of
Encinitas officials as authorized signatories on the City of Encinitas' LAIF account- (1) The City
Investment Officer, (2) the Finance Director, and (3) the City Manager. These officials are
hereby authorized to order the deposit and/or withdrawal of City monies for the City's account.
Section 3 Effective Date This Resolution shall take effect upon adoption.
PASSED AND ADOPTED at the regular meeting of the City Council of the City of
Encinitas, State of California, on this 28th day of November, 2012, by the following vote to wit
AYES- Barth, Bond, Gaspar, Muir, Stocks.
NAYS. None
ABSENT None
ABSTAIN: None.
Jerom Stocks, Mayor of the City of Encinitas
ATTEST.
Kathy lywo d, City Clerk of the City of Encinitas