HomeMy WebLinkAbout03/14/2006 PFA Reports
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CITY OF LAKE ELSINORE
PUBLIC FINANCE AUTHORITY
AGENDA
THOMAS BUCKLEY, CHAIRMAN
DARYL HICKMAN, VICE CHAIRMAN
GENIE KELLEY, BOARD MEMBER
ROBERT MAGEE, BOARD MEMBER
ROBERT SCHIFFNER, BOARDMEMBER
ROBERT BRADY, EXECUTIVE DIRECTOR
WWW.LAKE-ELSINORE.ORG
(951) 674-3124 PHONE
(951) 674-2392 FAX
LAKE ELSINORE CULTURAL CENTER
183 NORTH MAIN STREET
LAKE ELSINORE, CA 92530
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TUESDAY, MARCH 14,2006 - 5:00 P.M.
CALL TO ORDER
ROLL CALL
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CLOSED SESSION
RECONVENE IN PUBLIC SESSION (7:00 P.M.)
ROLL CALL
CLOSED SESSION REPORT
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
(Please read & complete a Speaker's Form at the Podium, prior to the Start of the
City Council Meeting)
PUBLIC COMMENTS - AGENDIZED ITEMS - 3 MINUTES
(Please read & complete a Speaker's Form at the Podium, prior to the Start of the
City Council Meeting. The Chairman will call on you to speak, when your item is
called.)
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CONSENT CALENDAR
(All matters on the Consent Calendar are approved on one motion, unless a
Councilmember or any member of the public requests separate action on a specific
item.)
Page 2- Public Finance Authority Meeting Agenda - March 14,2006
1. Update to LAIF Resolution.
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RECOMMENDATION:
Adopt PFA Resolution No. 2006-1, naming
Mr. David W. Sapp as an additional
authorized signer for all Local Agency
Investment Accounts held at the State of
California.
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
EXECUTIVE DIRECTOR COMMENTS
LEGAL COUNSEL COMMENTS
BOARDMEMBER COMMENTS
ADJOURNMENT
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CITY OF LAKE ELSINORE
REPORT TO PUBLIC FINANCE AUTHORITY
TO: MAYOR AND CITY COUNCIL
FROM: ROBERT A. BRADY, EXECUTIVE DIRECTOR
DATE: MARCH 14,2006
SUBJECT: UPDATE TO LAIF RESOLUTION
BACKGROUND
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As is required by the State of California Local Agency Investment Fund, upon
termination of employment of an authorized signer, the City should remove those
terminated from employment with the City and replace them as an authorized signer
as necessary.
DISCUSSION
After a review of Staff available for this task, it is believed that Mr. David W. Sapp,
Director of Community Services should be the replacement signature for Mrs. Vicki
Kasad. The current signers are the City Manager, the Director of Administrative
Services, and the Finance Division Manager.
FISCAL IMPACT
NONE.
RECOMMENDATION
Staff hereby recommends that Council approve Resolution #-f'F,4 ~-I which
names Mr. David W. Sapp as an additional authorized signer for all Local Agency
",- Investment Accounts held at the State of California.
AGENDA ITEM NO.~
PAGE , OF Lf -
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PREPARED BY: v!:w~ ~AIA^n
KIM D. MA~~. j/~
FINANCE DIVISION MANAGER
REVIEWED BY:
APPROVED FOR
AGENDA BY:
MATT N. PRESSEY
DIRECTOR OF AD NISTRATIVE SERVICES
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AGENDA ITEM NO. 1
PAGE Z. OF 'f ~
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Public Finance Authority for the City of Lake Elsinore
Regular Account Resolution
Resolution of the Public Finance Authori~ for the City of Lake Elsinore
Resolution # cJ,tbt.. - /
Agency
Address: 130 S. Main St.. Lake Elsinore. CA. 92530
Agency
Phone Number: (951) 674-3124
AUTHORIZING INVESTMENT OF MONIES
IN THE LOCAL AGENCY INVESTMENT FUND
WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section 16429. It was added to
the California Government Code to create a Local Agency Investment Fund in the State
Treasury for deposit of money of a local agency for purposes of investment by the State
Treasurer; and
WHEREAS, the Public Finance Authority Board of Directors does hereby frod that the
deposit and withdrawal of money in the Local Agency Investment Fund in accordance with
the provisions of Section 16429.1 of the Government Code for the purpose of investment as
stated therein as in the best interests of the City.
.~ NOW THEREFORE, BE IT RESOLVED, that the Public Finance Authority Board of
Directors does hereby authorize the deposit and withdrawal of 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, and
verification by the State Treasurer's Office of all banking information provided in that regard.
BE IT FURTHER RESOLVED, that the following City officers or their successors in
office shall be authorized to order the deposit or withdrawal of monies in the Local Agency
Investment Fund:
Services
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PASSED AND ADOPTED, by the Public Finance Authority Board of Directors, for the City
of Lake Elsinore, Riverside County of the State of California on March 14, 2006.
AGENDA ITEM NO. L
U:\kim\Banking\LAIF INFO\PF A Regular Account Resolution.doc "'" PAGE....l... OF
DATE
3/14/2006
LOCAL AGENCY INVESTMENT FUND
AUTHORIZATION FOR TRANSFER OF FUNDS
AGENCY NAME ~ACCOUNT#
Lake Elsinore Public Finance Authority 40-33-004
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ADDmONS
Name
David W. Sa p
Title
Director of Community Services
DELETIONS
Name
Vicki Kasad
Please mail completed form to:
State Treasurer's Office
Local Agency Investment Fund
P. o. Box 942809
Sacramento, CA. 94209-0001
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Director of Administrative Services
Print Title
Finance Manager
Print Title
Matt N. Pressey
Print Name
Kim Magee
Print Name
x
x
Authorized Si re
(Must be authorized r Resolution)
Two authorized signatures required
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