HomeMy WebLinkAboutRES 96-69RESOLUTION NO. 96- 69
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF DIAMOND BAR AUTHORIZING THE DEPOSIT AND
WITHDRAWAL OF MONIES IN AND FROM THE LOCAL
AGENCY INVESTMENT FUND IN ACCORDANCE WITH
GOVERNMENT CODE SECTION 16429.1 FOR THE
PURPOSES OF INVESTMENT
A. Recitals
(i) Pursuant of Chapter 730 of the Statutes of 1976,
California Government Code Section 16429.1 was added to create
Local Agency Investment Fund in the State Treasury for the
deposit of local agency (municipality) for the purpose of
investment by the State Treasurer; and
(ii) The City Council of the City of Diamond Bar does
hereby find that the deposit and withdrawal of money in the 'Local
Agency Investment Fund, in accordance with Government Code
Section 16429.1 for the purposes of investment as stated therein,
is in the best interests of the City of Diamond Bar.
NOW, THEREFORE, be it resolved by the City Council of
the City of Diamond Bar as follows:
1,. The City Council of the City of Diamond Bar does
hereby authorizo-the deposit/withdrawal of City monies in Wells
Fargo Bank to and from the Local Agency Investment Fund in the
State Treasury in accordance with the provisions of Government
Code Section 16429.1
2. The following City officers or their successors in
office are hereby authorized to order the deposit of monies in
the Local Agency Investment Fund:
96-69
City Manager - Terrence L. Belanger
Account Manager - Linda G. Magnuson
Deputy City Clerk - Tommye A. Nice
PASSED, APPROVED AND ADOPTED this 1st day of
October , 1996.
Mayor
I, LYNDA BURGESS, City Clerk of the City of Diamond
Bar, do hereby certify that the foregoing Resolution was passed,
approved and adopted at a regular meeting of the City Council of
the City of Diamond Bar held on the 1st day of
October , 1996, by the following vote:
AYES: COUNCIL MEMBERS: Harmony, Herrera, Werner,
MPT/Huff, M/Ansari
NOES: COUNCIL MEMBERS:None
ABSENT: COUNCIL MEMBERS:None
ABSTAINED: COUNCIL MEMBERS:None
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ity- C2erk a the
City, a Diamond Bar
96-69