HomeMy WebLinkAbout490RESOLUTION NO. 490
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, 2019, through October 4, 2020, pursuant to Goveriunent 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 V day of October, 2019.
aul W. Foster, Chairman
ATTEST:
,r5olne Donaldson, Secretary
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I:1Resolutions\Z-REDEVELOPMENT-SUCCESSOR AGENCY1Successor Agency Nos 452-1490 Annual Delegation City Treasurer Successor
Agency 10.1.19.doc
1, Jeanne Donaldson, Secretary of the Successor Agency, hereby certify that the foregoing
Resolution was duly adopted by the Agency Board at a regular meeting thereofheld on the I" day of
October, 2019, by the following vote:
AYES: Board Members Barich, Tejeda, Momberger, Davis; Mayor Foster
NOES: None
ABSTAIN: None
ABSENT: None
J Ze Donaldson, Secretary
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1:aesolutiom\7--REDEVELOPMENT-SUCCESSOR AGENCY1Successor Agency Nos 452-1490 Annual Delegation City Treasurer Successor
Agency 10.1.19.doc