HomeMy WebLinkAboutMINUTES - 03192013 - C.66RECOMMENDATION(S):
ADOPT Resolution 2013/134 to authorize the Contra Costa County Redevelopment Agency Local Agency
Investment Fund (LAIF) Account Number 65-07-015 to be transferred to the Successor Agency to the Contra Costa
County Redevelopment Agency; authorize the deposit and withdrawal of Successor Agency monies into the LAIF;
and authorize officers of the Successor Agency to order the deposit or withdrawal of monies in the LAIF.
FISCAL IMPACT:
None to the General Fund. The Successor Agency revenues are restricted to the purposes of the Successor Agency.
BACKGROUND:
Local governmental agencies may participate in the Local Agency Investment Fund (LAIF) by filing a resolution
adopted by the agency’s governing board with the State Treasurer’s Office.
On March 25, 2003, the Contra Costa County Redevelopment Agency Board adopted a resolution authorizing the
deposit and withdrawals of Redevelopment Agency funds in the LAIF, and authorizing officers of the
Redevelopment Agency to order transactions involving the LAIF. On July 19, 2009, the Redevelopment
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 03/19/2013 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
ABSENT:Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Contact: Maureen Toms,
925-674-7878
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors
on the date shown.
ATTESTED: March 19, 2013
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C.66
To:Successor to the Contra Costa County Redevelopment Agency
From:Catherine Kutsuris, Conservation & Development
Date:March 19, 2013
Contra
Costa
County
Subject:Successor Agency Funds in the Local Agency Investment Fund
BACKGROUND: (CONT'D)
Agency Board authorized a change in the officers of the Agency to order transactions involving the LAIF.
On January 17, 2012, the County Board of Supervisors adopted Resolution 2012/29, accepting the the designation
of, and declared its intent to serve as the Successor Agency to the Contra Costa County Redevelopment Agency.
The Successor Agency staff recommends the existing LAIF account opened for the Redevelopment Agency be
transfered to the Successor Agency.
CONSEQUENCE OF NEGATIVE ACTION:
The funds held in the name of the Redevelopment Agency would not be transferred to the Successor Agency,
which would create a conflict with the requirements of the Redevelopment Dissolution Act.
CHILDREN'S IMPACT STATEMENT:
Not Applicable
ATTACHMENTS
Resolution No. 2013/134