HomeMy WebLinkAbout492RESOLUTION NO 492
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 March 2, 2022 through February 28, 2023, 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 1st d022
ATTEST.
/00,„0.44__
e Donaldson, Secretary
1
L \ca\Reso\492 Delegating Investment Authority to Treasurer.RDA.doc
Paul T Barich, Chairman
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 1st day of March,
2022, by the following vote
AYES Vice Chairman Tejeda, Board Members Davis, Guzman -Lowery, Gallagher, Chairman Barich
NOES None
ABSTAIN None
ABSENT None
2
L.\ca\Reso\492 Delegating Investment Authority to Treasurer RDA.doc
a'Aftea
ne Donaldson, Secretary