HomeMy WebLinkAbout7910 RESOLUTION NO 7910
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 reinvest
funds of the City, or to sell or exchange securities so purchased, for the period commencing on
October 5, 2018, through October 4, 2019, 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 2nd day of October, 2018
Paul W Foster, Mayor
ATTEST
OQ�
e Donaldson, City Clerk
7910 Annual Delegation City Treasurer 10 02 18
I,Jeanne Donaldson, 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 2nd day of October
2018, by the following vote
AWES Councilmembers Barich, Tejeda, Momberger, James, Mayor Foster
NOES None
ABSTAIN None
ABSENT None
e Donaldson, City Clerk
7910 Annual Delegation City Treasurer 10 02 18