HomeMy WebLinkAbout7232_CCv0001.pdf RESOLUTION NO. 7232
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, the current investment authority delegated to the City Treasurer by the City
Council expires on December 4, 2012; and
WHEREAS, the City Council desires to re-delegate investment authority to the City
Treasurer for one additional year;
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
December 4, 2012, through December 3, 2013, 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 20th day of November,2012.
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Pete Aguilar, Mayor
ATTEST:
Sam Irwin, C' Clerk
L\cclerk\Resolutions\Res 7201-7299\7232 Annual Delegation City Treasurer I 1.20,12.doe
1, Sam Irwin,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 2& day of November
2012,by the following vote:
AYES: Councihmembers Bean,Foster, Gardner;ner; Mayor Aguilar
NOES: bone
ABSTAIN: Mone
ABSENT: Counciimember Harrison
City Clerk, City of Redln
l:lcclerkxResolu` 1R 7201-',29%7232 Annual Delegation City Treasurer l I.20,12.doc 2