CC Resolution No. 18-023 Confirming the Appointment of Zach Korach as Deputy TreasurerRESOLUTION NO. 18-023
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
CONFIRMING THE APPOINTMENT OF ZACH KORACH AS DEPUTY
TREASURER
WHEREAS, the City has available funds to invest in accordance with principles of
sound treasury management; and
WHEREAS, the City annually adopts an investment policy; and
WHEREAS, the City invests funds in accordance with provisions of California
Government Code Section 53600; and
WHEREAS, state law provides for the Office of City Treasurer and authorizes the
City Treasurer to appoint deputies (Gov. Code section 41001 et seq.); and
WHEREAS, Resolution No. 3721 was adopted on September 4, 1974, as City
Council policy governing City Treasury functions, which provides that the City Council
may appoint a City Treasurer who will have the authority to appoint by a Deputy
Treasurer, subject to City Council confirmation; and
WHEREAS, the City Council appointed Kristina Alfaro City Treasurer on June 2,
2014 pursuant to Resolution No. 14-158, and Ms. Alfaro has appointed Zach Korach as
Deputy City Treasurer to assure continuity of work during the absence of the Treasurer,
subject to Council confirmation; and
WHEREAS, both positions serve at the pleasure of the Council;
NOW, THEREFORE BE IT RESOLVED, that the City Council hereby confirms and
ratifies the appointment of Zach Korach as Deputy City Treasurer. The previous
appointment of Lisa Taitano as Deputy Treasurer is hereby revoked;
BE IT FURTHER RESOLVED that the City Treasurer shall have all of the duties
and responsibilities imposed by state law, the Cupertino Municipal Code Chapter 2.24,
and City Council resolutions. Furthermore, the City Treasurer is empowered and
specifically authorized to invest and reinvest City funds in accordance with California
Government Code Section 53600, and 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.
Resolution No. 18-023
Pa:ge 2
PASS ED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 20th day of March 2018 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Members of the City Council
Paul, Chang, Scharf, Vaidhyanathan
None
Sinks
None
APPROVED:
G,o,~ /?-~ ( Darcy Paul,~ · Grace Schmidt, City Clerk
City of Cupertino