CC Resolution No. 17-070 Authorizing Investment of Monies in the Local Agency Investment FundRESOLUTION NO. 17-070
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
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 City Council 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 City of Cupertino;
NOW, THEREFORE BE IT RESOLVED, that the City Council does hereby
authorize the deposit and withdrawal of the City of Cupertino 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 City of Cupertino officers or
their successors in office shall be authorized to order the deposit or withdrawal of
monies in the Local Agency Investment Fund:
Kristina Alfaro Currently vacant/TED
Finance Manager/Deputy Treasurer D:ct ~r a; Administ,rative Services/Treasurer
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Signatur~ NA
Alternate in case of vacancy in either Treasurer or Deputy Treasurer role:
Signature
Resolution No . 17-070
Page 2
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 1st day of August, 2017, by the following vote:
Vote Members of the City Council
A YES: Vaidhyanathan, Paul, Chang, Scharf, Sinks
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
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City of Cupertino