Resolution - 5440RESOLUTION NO. 5440
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA AUTHORIZING THE USE OF THE LOCAL
AGENCY INVESTMENT FUND UNDER THE OFFICE OF THE
CALIFORNIA STATE TREASURER AS AN INVESTMENT MEDIA
ALTERNATIVE.
• WHEREAS, Article II (commencing with Section 16429.1) has been added to
Chapter 2 of Part 2 of Division 4 of Title 2 of the Government Code; and
•
WHEREAS, this Government Code addition provides for the creation of the
Local Agency Investment Fund under the office of the California State Treasurer
and the establishment of the local Investment Advisory Board and prescribes various
duties for the Board; and
WHEREAS, it is deemed wise and prudent to establish an account with the
office of the California State Treasurer for the purpose of using the Local Agency
Investment Fund as an investment media alternative.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WEST COVINA DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1
That the City Council of the City of West Covina hereby authorizes the
establishment of an investment account with the office of the California State
Treasurer Local Agency Investment Fund titled:
City of West Covina
1444 West Garvey Avenue
West Covina, California 91790
Attention: Yvonne Calmes
City Treasurer
SECTION 2
That the City Council of the City of West Covina agrees to deposit or
withdraw money 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 herein.
SECTION 3
That the City Council of the City of West Covina authorizes the following
named officials to order the deposit or withdrawal of money in the Local Agency
Investment Fund:
Yvonne Calmes,-City Treasurer
Gloria Davidson, Deputy City Treasurer
Introduced, approved and adopted this 2 5th day of April 1977.
Mayor of the City of West Covina
ATTEST:
City Clerk f
APPROVED AS TO FORM:
Geo fge Wakefield, City A torney
`STATE OF CALIFORNIA
COUNTY OF--LOS ANGELES ss
CITY OF WEST COVINA
I, Lela Preston., City Clerk of the City of West Covina, California,
do hereby certify that the foregoing resolution was duly introduced, approved
and adopted by the City Council of the City of West Covina at a regular meet-
ing of said Council held on the 25th 'day of April 1977) by
the following roll' call vote-:
AYES: Councilmen: Miller, Chappell,,Tice, Browne, -Shearer:
NOES: Councilmen: None
ABSENT: Councilmen: None
.City
Cityr dlerk of theIC of. West Covina