HomeMy WebLinkAbout481 SA RESOLUTION NO. 481
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER
REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS DELEGATING
INVESTMENT AUTHORITY TO THE CITY TREASURER, PURSUANT TO
GOVERNMENT CODE SECTION 53607
WHEREAS, Government Code Section 53607 authorizes the legislative body of a local
agency to delegate the duties of investnig or reinvesting funds of the agency, or to sell or exchange
securities so purchased, to the Treasurer of such agency for a period not exceeding one year; and
WHEREAS, it is the desire of the Board of the Successor Agency to the tbriner
Redevelopment Agency of the City of Redlands, to delegate investment authority ofsuccessor agency
funds to the Successor Agency's Treasurer;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE SUCCESSOR
AGENCY TO THE FORMER. REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS
AS FOLLOWS:
Section 1. That the Treasurer of the City of Redlands is hereby delegated the authority to
invest, or reinvest funds of the Successor Agency, or to sell or exchange securities so purchased, for
the period conan-iencing on October 5, 2016, through October 4, 2017, pursuant to Goveini-nent Code
Section 53607.
Section 2. That the Treasurer shall prepare a n-iontbly report to the Board of the Successor
Agency of all transactions subject to this Resolution, as required by Government Code Section
53607.
ADOPTED, SIGNED AND APPROVED this 4th day of October, 2016.
vai;i W. Foster, Chairman
ATTEST:
Sam Irioii, Secretary
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delegation City TreaSUrer succ agency I 00416.doc
I, Sam Irwin, Secretary of the Successor Agency, hereby certify that the foregoing Resolution was
duly adopted by the Agency Board at a regular meeting thereof held on the 4'h day of October, 2016,
by the following vote:
AYES: Boardmembers Harrison, Gilbreath, Barich, James; Chairman Foster
NOES: None
ABSTAIN: None
ABSENT: None
Sam Irwin, Secretary
I:lcclerk\Resolutions\REDEVELOPMENT-SUCCESSOR AGENCY1Successor Agency Nos 452-1481 annual
delegation City Treasurer succ agency 100416.doc