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HomeMy WebLinkAbout487 RESOLUTION NO 487 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 investing 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 former Redevelopment Agency of the City of Redlands,to delegate investment authority of successor 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 commencing on October 5,2018,through October 4,2019,pursuant to Government Code Section 53607 Section 2 That the Treasurer shall prepare a monthly 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 2nd day of October, 2018 Paul W Foster, Chairman ATTEST e e Donaldson, Secretary I 1Resolutions\REDEVELOPMENT-SUCCESSOR AGENCYIRDA Nos 300-500\487 Annual Delegation City Treasurer Succ Agency 10 02 18 doc I,Jeanne Donaldson, 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 2nd day of October, 2018, by the following vote AYES Councilmembers Barich, Tejeda, Momberger,James, Mayor Foster NOES None ABSTAIN None ABSENT None jAnne Donaldson, Secretary I 1Resolutions\REDEVELOPMENT SUCCESSOR AGENCYIRDA Nos 300-500\487 Annual Delegation City Treasurer Succ Agency 10 02 18 doc