05. Treasurer/deputy treasurer appointmentOFFICE OF ADMINIS'('RATIVE SERVICES
CUPERTINO
CITY HALL
10300 TORRE AVENI~E • CUPERTINO, CA 95014-3255
TELEPHONE: (408) 777-3220 • FAX: {408) 777-3366
SUMPVIARY
Agenda Item No. 5
SUBJECT AND ISSUE
Meeting Date: February 3, 2009
Adopt a Resolution Accepting the Treasurer and Deputy Treasurer Appointment
BACKGROUND
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. This Section xequires government
agencies to appoint a treasurer and deputy treasurer on an annual basis. The attached resolution
extends the current appointment of the City's treasurer and Deputy Treasurer.
This legislation was intended to provide ongoi~ig review of investment issues by the governing
body.
RECOMMENDATION:
Adopt the resolution accepting the Treasurer and Deputy Treasurer appointment.
Submitted by:
Carol A. Atwood
Director of Administrative Services
Approved for submission:
~~----~
avid W. Knapp
City Manager
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RESOLUTION N0.09-016 ;~!
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
RESCINDING RESOLUTION N0.08-014 AND APPOINTING
TREASURER AND DEPUTY TREASURER
WHEREASr the City has available fiends to invest in accordance with principles of sound
treasury management; and
WHEREAS, the City annually adopts an investment policy;
WHEREAS, the City invests funds in accordance with provisions of California
Government Code Section 53600; and
NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Cupertino
hereby rescinds Resolution No. 08-014 and appoints Caroi Atwood City Treasurer and David
Woo as Deputy Treasurer; and
BE IT FURTHER RESOLVED that the City Treasurer is empowered and specifically
authorized to invest and reinvest City funds in accordance with California Government Code
Section 53600; to buy, sell, trade and deal in authorized securities on margin or otherwise in
connection therewith and to pledge any and all securities for future delivery thereof,
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 3rd day of February 2009 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN;
APPROVED:
Mayor, City of Cupertino
ATTEST:
City Clerk
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