HomeMy WebLinkAbout7675 RESOLUTION NO. 7675
A RESOLUTION OF THE CITY COUNCIL 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 City Council to delegate the
duties of investing or reinvesting funds of the City, or to sell or exchange securities so purchased, to
the City Treasurer for a period not exceeding one year; and
WHEREAS, it is the desire of the City Council to delegate investment authority of City funds
to the city Treasurer;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
REDLANDS AS FOLLOWS:
Section 1. That the City Treasurer is hereby delegated the authority to invest, or reirivest
-funds of the City, or to sell or exchange securities so purchased, for the period commencing on
October 5, 2016, through October 4, 2017, pursuant to Government Code Section 53607.
Section 2. That the City Treasurer shall prepare a monthly report to the City Council of all.
transactions subject to this Resolution, as required by Government Code Section 53607.
ADOPTED, SIGNED AND APPROVED this 4th day of October, 2016.
dul Vv. Foster, Mayor
ATTEST:
Si6ii lm4K, CAy Clerk
1:\ccJerk\ResoW6ons\Res 7600-7699\7675 annual delegation City Treasurer 1,00416.doc
I, Sam Irwin, City Clerk of the City of Redlands, hereby certify that the foregoing Resolution was
duly adopted by the City Council at a regular meeting thereof held on the 4th day of October 2016,by
the following vote:
AYES: Councilmembers Harrison, Gilbreath, Barich, James; Mayor Foster
NOES: None
ABSTAIN: None
ABSENT: None
Sam Irwin, City Clerk
1Acclerk\Resolutions\Res 7600-769917675 annual delegation City Treasurer 100416.doc