06. Treasurer appointment j ` City Hsll
10300 Torre Avenue
Cupertino, CA 45014-3255
, ~',~,Y 0~ Telephone: (408} 777-3220
~ y _ ~ ~ ~ ~ ~ O Fa~c: (408} 777-3366
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DEPARTIvIENT OF ADMINISTRATIVfi SERVICES
SUMMARY
Agenda Item No. ~p Meeting Date: February 4, 2008
SUBJECT AND ISSUE
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 requires
government agencies to appoint a h~easurer and deputy treasurer on an annual basis. The attached
resolution extends the current appointment of the City's treas~rer and Deputy Treasurer.
This legislation was intended to provide ongoing review of investment issues by the governing
body.
RECOMMENDATION:
Adopt the resolution accepting the Treasurer and Deputy Treasurer appointment.
Submitted by: Approved for submission:
~ Caroi A. Atwood David W. Knapp
Director of Administra#ive Services City Manager
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Pr/nted ort Recycled Paper
SO ~
RE LUTION NO. 08-014
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
RESCINDING RESOLUTION NO. 07-024 AND APPOIlV'TING
TREASURER AND DEPUTY TREASURER ~
WHEREAS, the City has available funds to invest in accordance with principles of sound
treasury manage~ment; and
WHEREAS, the City annually adopts an investment poticy;
WHEREAS, the City invests funds in accordance with provisions of Califoxnia
Government Code Section 53600; and
~ NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Cupertino
- hereby rescinds Resolution No. 07-024 and appoints Carol Atwood City Treasurer and David
Woo as Deputy Treasurer; and ~
BE IT FIJRTHER RESOLVED fihat the City Treasurer is exnpowered and specifically
authorized to invest and reinvest City funds in accordance with California Government Code
Section 53b00; to huy, sell, trade and deal in authorized securities on margin or otherwise in
connection therewith and to pledge an.y and all securities for future delivery thereof.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of ~
Cupertino this 4th day of February 2008 by the following vote:
Vote Members of the Citv Council
AYES:
NOES:
ABSENT:
ABSTAIN: .
APPROVED:
Mayor, City of Cupertino
ATTEST:
City Clerk .
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