HomeMy WebLinkAboutMINUTES - 03252003 - C71 O.
TO: REDEVELOPMENT AGENCY
FROM: John Sweeten
Executive Director -
DATE: March 25, 2003
SUBJECT: Investment of Monies in the Local Agency Investment Fund
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
ADAPT Resolution authorizing the deposit and withdrawal of Redevelopment Agency monies
in the Local Agency Investment Fund, and authorizing officers of the Redevelopment Agency
to order the deposit or withdrawal of monies in the Local Agency Investment Fund.
FISCAL IMPACT
None.
BACKGROUND/REASONS FOR RECOMMENDATIONS
As a matter of efficiency the Redevelopment Agency periodically invests its funds in the Local Agency
Investment Fund (LAIF). We have been requested by the Treasurer's Office that the Agency adopt a
current resolution authorizing the deposit and withdrawal of Agency funds in LAIF, and authorizing
officers of the Agency to order transactions involving LAIF.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
_,,,,RECOMMENDATION OF EXECUTIVE DIRECTOR R 'COM'ME ATION' OF A ENCY
COMMITTEE APPROVE' OTHER
SIGNATUR
ACTIONF ENCY ON March 25, 2003 APPROVED AS REC.0MMENDED_,xOTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS TRUE AND CORRECT COPY OF AN
A►' AYES NTS_)NOES: ACTION TAKEN AND ENTERED ON THE
Al ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
DISTRICT III SEAT VACANT AGENCY ON THE DATE SHOWN.
Contact: Redevelopment
335-1255 ATTESTED Mar& 25, 2003
cc: Community Development JOHN SWEETEN, AGENCY SECRETARY
County Counsel r,
CAO B , EPUTY
Auditor-Controller
Treasurer-Tax Collector
2003/184
H:\Personal\Board Orders and Greenies\BOS.RDA.3.25.03.doc.
O '.a
RESOLUTION OF REDEVELOPMENT AGENCY OF CONTRA COSTA
AGENCY 625 Court:Street,Room 102 AGENCY
ADDRESS Martinez,CA 94553 PRONE NUMBER 925-646.4115
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 Board of Directors does hereby find that the deposit and withdrawal of money in the
Local Agency Investrnent Fond in accordance with the provisions of Section 16429.t of the Government Code for
the purpose of investment as stated therein as in the best interests of the REDEYELOPMENT AGENCY 0
CONTRA COS'T'A.
NOW THEREFORE,BE IT RESOLVED,that the Board of Directors does hereby authorize the deposit
and withdrawal of REDEVELOPMENT AGENCY QF 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 REDEVELOPMENT AGENCY 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:
John Sweeten, Executive Director Dennis M. Barrv,Assistan .Tama' Ka need Daputv
(NAME) (DAME)Executive Director (NAME)Executive Directo:
(TITLE) int) $4i� (TITLE)
lko
(SIGNATURE) (SIGNATURE) (SIGMA URE)
PASSED AND ADOPTED,by the Board of Directors of REDEVELOP�IWT AGENC OF
CONTRA COSTA County of Contra Costa,State of California on
I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
AND ENTERED ON THE MINUTES OF THE
REDEVELOPMENT AGENCY ON THE BATE SHOWN.
ATTESTED f y-
BY JTY