HomeMy WebLinkAbout8188RESOLUTION NO. 8188
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
March 16, 2021, through March 15, 2022, 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 16th da rch, 2021.
Paul T. Barich, Mayor
ATTEST:
a Donaldson, City Clerk
I aesolutions\Res 8100-8199\8188 Delegating Investment Authority to Treasurer.doc
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 16th day of March
2021, by the following vote:
AYES: Councilmembers Davis, Foster, Guzman -Lowery, Tejeda; Mayor Barich
NOES: None
ABSENT: None
ABSTAINED: None
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Je Donaldson, City Clerk
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I:1Resolutions\Res 8100-8199\8188 Delegating Investment Authority to Treasurer.doc