Res 88RESOLUTION NO. 88
A RESOLUTION OF THE CITY COUNCIL
OF T~E CITY OF POWAY, CALIFORNIA
AUTHORIZING INVESTMENT OF CITY MONIES IN
LOCAL AGENCY INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the Statutes of 1976 Section 16429.1
was added to the California Government Code to create a Local Agency Investment
Fund in the State Treasury for the deposit of money of a local agency for
purposes if investment by the State Treasurer; and
WHEREAS, the City Council does hereby find that the deposit and withdrawal
of money in the Local Agency Investment Fund in accordance with the provisions
of Section 16429.1 of the Government Code for the purposes of investment as
stated therein as in the best interests of the City of Poway.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby authorize
the deposit and withdrawal of City monies in the Local Agency Investment Fund
in the State Treasury in accordance with the provisions of Section 16429.1 of
the Government Code for the purpose of investment as stated therein.
BE IT FURTHER RESOLVED that any two of the following City officers or their
successors in office shall be authorized to order the deposit or withdrawal of
monies in the Local Agency Investment Fund:
Clyde E. Rexrode, Mayor
Robert C. Emery, Deputy Mayor
James L. Bowersox, City Manager
Lee Lewis, City Treasurer
PASSED AND ADOPTED by the City Council of the City of Poway, State of
California on this 24th day of March , 1981.
ATTEST:
~"~yde/~- R~xrode, Mayor
Marjorie~t Wahlsten, City Clerk