HomeMy WebLinkAbout2008-12-23 CC-RDA Item No.4 iTY OF ,,
LAU c
DREAM EXTREME
REPORT TO THE REDEVELOPMENT AGENCY
TO: HONORABLE CHAIRMAN
AND MEMBERS OF THE REDEVELOPMENT AGENCY
FROM: ROBERT A. BRADY
CITY MANAGER
DATE: DECEMBER 23, 2008
SUBJECT: UPDATE TO LAIF RESOLUTION
Background
As is required by the State of California Local Agency Investment Fund, upon
termination of employment of an authorized signer, the Authority should remove those
terminated from employment with the City of Lake Elsinore and replace them as an
authorized signer as necessary.
Discussion
This resolution would remove former Director of Administrative Services, Matt N.
Pressey as well as former Director of Community Services, David W. Sapp, as signers.
Following this resolution, the signers on file will be the City Manager, the Acting Director
of Administrative Services, and the Accountant.
Fiscal Impact
NONE.
Recommendation
Staff hereby recommends that the Redevelopment Agency approve Resolution 2008 -
which removes Matt N. Pressey and David W. Sapp as authorized signers for
all Local Agency Investment Accounts held at the State of California.
Agenda Item No. 4
Page 1 of 4
LAIF Resolution
December 23, 2008
Page 2
PREPARED BY: NANCY L. LASSEY
ACCOUNTANT
REVIEWED BY: JAMES R. RILEY 4 9
ACTING DIRECTO' •F
ADMINISTRATIVE SERVICES
APPROVED FOR t
AGENDA BY: ROBERT A. BRAD))
CITY MANAGER
Agenda Item No. 4
Page 2 of 4
Redevelopment Agency for the City of Lake Elsinore
Regular Account Resolution
Resolution of the Redevelopment Agency for the City of Lake Elsinore
Resolution #
Agency Agency
Address: 130 S. Main St., Lake Elsinore, CA. 92530 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 Redevelopment Agency Board of Directors 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 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 Redevelopment Agency 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:
James R. Riley Robert A. Brady
Acting Director of Administrative Services Executive Director
(Signature) (Signature)
PASSED AND ADOPTED, by the Redevelopment Agency Board of Directors, for the City
of Lake Elsinore, Riverside County of the State of California on December 23, 2008.
Agenda Item No. 4
Page 3 of 4
LOCAL AGENCY INVESTMENT FUND
AUTHORIZATION FOR TRANSFER OF FUNDS
DATE AGENCY NAME LAIF ACCOUNT #
12/23/08 Lake Elsinore Redevelopment Agency 65 -33 -008
ADDITIONS
Name Title Signature
DELETIONS
Name
Matt N. Pressey
David W. Sapp
Please mail completed form to:
State Treasurer's Office
Local Agency Investment Fund
P. O. Box 942809
Sacramento, CA. 94209 -0001
Acting Director of Administrative Services Executive Director
Print Title Print Title
James R. Riley Robert A. Brady
Print Name Print Name
X X
Authorized Signature Authorized Signature
(Must be authorized per Resolution) (Must be authorized per Resolution)
Two authorized signatures required
Agenda Item No. 4
Page 4 of 4