CDC - Item 2C - Titles of Officers Authorized to deposit and withdrawl - LAIF•
ROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION
STAFF REPORT
TO: HONORABLE CHAIRMAN AND COMMISSIONERS
FROM: OLIVER CHI, EXECUTIVE DIRECTOR OC.,
DATE: APRIL 8, 2008
SUBJECT: TITLES OF OFFICERS AUTHORIZED TO MAKE DEPOSITS AND
WITHDRAWALS IN THE LOCAL AGENCY INVESTMENT FUND (LAIF)
SUMMARY
LAIF must have on file a Rosemead Community Development Commission (RCDC)
resolution listing the exact names and titles of officers authorized to make deposits and
withdrawals in the LAIF account. On July 17, 2007 the RCDC passed resolution 2007-
24 designating the Executive Director, Deputy City Manager and Chief Financial Officer
as the officers having authority to make deposits and withdrawals in the LAIF account.
Subsequently, the Deputy City Manager title was changed to Assistant City Manager.
With any change of title LAIF requires, for their files, a new resolution identifying the
change of titles. The attached resolution provides LAIF with a RCDC resolution listing
current names and titles of officers authorized to make deposits and withdrawals in the
LAIF account.
STAFF RECOMMENDATION
Staff recommends that the RCDC approve the attached resolution listing the Executive
Director, Assistant City Manager and Chief Financial Officer as the officers authorized to
make deposits and withdrawals in the RCDC's LAIF account.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by: '
Steven Brisco
Finance Director
Attachment: Resolution 2008 -10
APPROVED FOR COMMUNITY DEVELOPMENT COMMISSION AGENDA: U'
•
RESOLUTION NO. 2008 - 10
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION
AUTHORIZING INVESTMENT OF MONIES IN THE 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 Treasurer for the deposit on money of a local agency for the purpose of investment
by the State Treasurer; and,
WHEREAS, The Rosemead Community Development Commission 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
purpose of investment as stated therein is in the best interests of the Rosemead
Community Development Commission.
NOW THEREFORE, BE IT RESOLVED, That the Rosemead Community
Development Commission does hereby authorize the deposit and withdrawal of Rosemead
Community Development Commission 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, and verification by the State
Treasurer's Office of all banking information provided in that regard.
BE IT FURTHER RESOLVED, that the following Rosemead Community
Development Commission officers or their successors in office shall be authorized to
order deposit or withdrawal of monies in the Local Agency Investment Fund:
Oliver Chi
(Name)
Brian Saeki
(Name)
Executive Director
(Title)
(Signature)
Assistant City Manager
(Title)
(Signature)
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Matt Hawkesworth
(Name)
Assistant City Manager
(Title)
(Signature)
Steven Brisco
(Name)
Chief Financial Officer
(Title)
(Signature)
PASSED, AND ADOPTED, by the Rosemead Community Development Commission,
County of Los Angeies of the State of California on April 8, 2008.
ATTEST:
JOHN TRAN, CHAIRMAN
GLORIA MOLLEDA, COMMISSION SECRETARY
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