Resolution - 2021-23RESOLUTION NO.2021-23
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WEST COVINA, CALIFORNIA, ACTING AS THE
SUCCESSOR AGENCY TO THE FORMER WEST COVINA
REDEVELOPMENT AGENCY, AUTHORIZING THE
INVESTMENT OF FUNDS IN THE STATE OF
CALIFORNIA LOCAL AGENCY INVESTMENT FUND,
DESIGNATING AUTHORIZED SIGNATORIES AND
RESCINDING RESOLUTION NO.2015-59
WHEREAS, the Local Agency Investment Fund is established in the State Treasury under
Government Code section 16429.1 et seq. for the deposit of money of a local agency for purposes
of investment by the State Treasurer; and
WHEREAS, the West Covina City Council, acting as the Successor Agency to the former
West Covina Redevelopment Agency, hereby finds that the deposit and withdrawal of money in
the Local Agency Investment Fund in accordance with Government Code section 16429.1 et seq.
for the purpose of investment as provided therein is in the best interests of the Successor Agency;
and
WHEREAS, the West Covina City Council, acting as the Successor Agency to the farmer
West Covina Redevelopment Agency, previously adopted Resolution No. 2015-59, authorizing
specified local officials to order the deposit or withdrawal of money in the Local Agency
Investment Fund; and
WHEREAS, due to changes in key personnel, the Local Agency Investment Fund has
requested that the Successor Agency provide an updated resolution identifying authorized City
officials.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WEST COVINA,
CALIFORNIA, ACTING AS THE SUCCESSOR AGENCY TO THE FORMER WEST
COVINA REDEVELOPMENT AGENCY, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council of the City of West Covina, acting as the Successor
Agency to the former West Covina Redevelopment Agency, hereby authorizes the deposit and
withdrawal of West Covina Successor Agency monies in the Local Agency Investment Fund in
the State Treasury in accordance with Government Code Section 16429.1 et seq. for the purpose
of investment as provided therein.
SECTION 2. The following City of West Covina officers holding the title(s) specified
hereinbelow or their successors in office are each hereby authorized to order the deposit or
withdrawal ofmonies in the Local Agency Investment Fund and may execute and deliver any and
all documents necessary or advisable in order to effectuate the purposes of this resolution and the
transactions contemplated hereby:
David N. Carmany Robbeyn Bird Stephanie Russell
City Manager Finance Director Assistant Finance Director
S?4 ,N
(SIGNATURE) (SIGNATUR (SI ATURE)
SECTION 3. This resolution shall remain in full force and effect until rescinded by the
West Covina City Council, acting as the Successor Agency to the former West Covina
Redevelopment Agency, by resolution and a copy of the resolution rescinding this resolution is
filed with the State Treasurer's Office.
SECTION 4. The City Council, acting as the Successor Agency to the former West
Covina Redevelopment Agency, hereby rescinds its Resolution No. 2015-59, adopted on August
18, 2015.
SECTION 5. The City Clerk shall certify to the passage and adoption of this resolution
and enter it into the book of original resolutions.
APPROVED AND ADOPTED by the City Council of West Covina, acting as the
Successor Agency to the former West Covina Redevelopment Agency, on this 6th day of April,
2021.
APPROVE TO FORM
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Thomas Duarte
City Attorney
ATTEST /
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Lisa rrick
City erk
I, LISA SBERRICK, ASSISTANT CITY CLERK ofthe City of West Covina, California,
do hereby certify that the foregoing Resolution No.2021-23 was duly adopted by the City Council
of the City of West Covina, California, acting as the Successor Agency to the former West Covina
Redevelopment Agency, at a regular meeting thereof held on the 6th day of April, 2021, by the
fallowing vote:
AYES: Castellanos, Diaz, Lopez-Viado,Tabatabai, Wu
NOES: None
ABSENT: None
ABSTAIN: None
Lisa errick
City Jerk