HomeMy WebLinkAbout8024RESOLUTION NO. 8024
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, 2019, through October 4, 2020, pursuant to Govenrunent 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 1 st day of October, 2019.
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ATTEST:
u11c Donaldson, City Clerk
1AResolutionslRes 8000-809918024 Annual Delegation City Treasurer 10.1.19.doc
1, 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 I' day of
October, 2019, by the following vote:
AYES: Councilmembers Barich, Teleda, Momberger, Davis, Mayor Foster
NOES: None
ABSTAIN: None
ABSENT: None
J e Donaldson, City Clerk
2
I:\ResolutionslRes8000-8099\8024 Annual Delegation City Treasurer 10.1.19.doc