HomeMy WebLinkAboutMINUTES - 01092007 - HA.1 HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA A
J � I
TO: BOARD OF COMMISSIONERS
FROM: Rudy Tamayo, Executive Director
DATE: January 9, 2007
SUBJECT: APPROVE RESOLUTION NO. 5080 AUTHORIZING THE HOUSING AUTHORITY TO
INVEST MONIES IN THE LOCAL AGENCY INVESTMENT FUND (LAIF)
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION.
I. RECOMMENDED ACTION:
ADOPT Resolution No. 5080 authorizing the Housing Authority to continue to invest monies with
the Local Agency Investment Fund of the State Treasury in accordance with Government Code, Section
6429, and further authorize the Housing Authority Executive Director, Rudy Tamayo, the Finance Director,
John Hunter, and the Finance Manager, Kuldip Singh, to order deposits and withdrawals in LAIF.
II. FINANCIAL IMPACT:
None
III. REASONS FOR RECOMMENDATION/BACKGROUND:
The Housing Authority is updating its current resolution with Local Agency Investment Fund (LAIF)
to reflect the change in the position of Executive Director and to add our current Finance Director. This
resolution is required for the purpose of depositing and withdrawing.of funds. The LAIF fund is a pooled
investment with other local agencies that is governed and controlled by the State Treasury.
IV. CONSEQUENCES OF NEGATIVE ACTION:
Should the Board of Commissioners elect not to approve this resolution, the Housing Authority of
the County of Contra Costa would not be allowed to deposit or withdraw funds in LAIF and would not be in
compliance with the U.S. Department of Housing and Urban Development (HUD) and California
Governmental Code (CGC).
CONTINUED ON ATTACHMENT: YES SIGNATUR
Executive Director
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON —1 2W7 APPROVED AS RECOMMENDED V*" q�r!FIER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF TI4E BOARD OF
COMMISSIONERS ON THE DATE SHOWN.
ATTESTED 1 200
JOHN C L N,CL RK OF
THE BOAitO OF COMMISSIONERS
AND COUNTY ADMINISTRATOR
BY , DEPUTY
H:\JudyHayes\MSOFFICE\WINWORD\BOARD\BO-LAIF Investments.doe
_ RESOLUTION NO. 5080
HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA
AGENCY 3133 Estudillo Street AGENCY
ADDRESS Martinez, CA 94553 PHONE NUMBER (925)957-8014
AUTHORIZING INVESTMENT OF MONIES
IN THE LOCAL AGENCY INVESTMENT FUND
WHEREAS,Pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was added to the
California Government 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 Housing Authority of the County of Contra Costa 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 Housing Authority of the County of Contra Costa
NOW THEREFORE,BE IT RESOLVED,the Housing Authority of the County of Contra
Costa does hereby authorize the deposit and withdrawal of Housing Authority of the County of Contra
Costa 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 Housing Authority of the County of Contra
Costa officers or their successors in office shall be authorized to order the deposit or withdrawal of
monies in the Local Agency Investment Fund:
_RLidy Tama yo John Hunter Kuldip Sin h
(NAME) (NAME) (NAME)
i
Executive Director Finance Director Accounting M.ana-,,er
(TITLE) (TITLE) (TITLE)
(SIGNATURE) (SIGNATURE) (SIGNATURE)
PASSED AND ADOPTED ON � by the following vote of the
Commissioners.
AYES:
NOES:
ABSENT: NOAl f5
ABSTAIN: /V DNE
I HEREBY CERTIFY THAT THIS IS A
TRUE AND CORRECT COPY OF AN
ACTION TAKEN AND ENTERED ON THE
MINUTES OF THE BOARD OF
COMMISSIONERS ON THE DATE SHOWN
ATTESTED)OqA -1 2.X
(j O CULLEN, CLERK OF
THE N4ARD OF COMMISSIONERS
AND COUNTY ADMINISTRATOR
BY
Note: Resolution must be adopted by the governing body. Please submit a certified copy of the resolution to LAIF. A certified copy
is 1)a copy of the resolution affixed with the seal of the agency or 2)a copy of the resolution attested by the City Clerk/Board
Secretary with his/her original signature.