Resolution - 2012-12A RESOLUTI
COVINA, CA
THE WEST
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RESOLUTION NO.2012-12
IN OF THE CITY COUNCIL OF THE CITY OF WEST
[FORNIA, ACTING AS THE SUCCESSOR AGENCY TO
OVINA REDEVELOPMENT AGENCY AUTHORIZING
HE LOCAL AGENCY INVESTMENT FUND UNDER THE
THE CALIFORNIA STATE TREASURER AS AN
ALTERNATIVE
rant to Chapter 730 of the statutes of 1976 Section 16429.1 was added
ment Code to create a Local Agency Investment Fund in the State
of money of a local agency for purposes of investment by the State
West Covina City Council acting as the successor agency to the West
Agency does hereby find that the deposit and withdrawal of money in
�ment Fund in accordance with the provisions of Section 16429.1 of the
to purpose of investment as stated therein as in the best interests of the
deemed wise and prudent to establish an account with the office of the
x for the purpose of using the Local Agency Investment Fund as an
NOW, THEREFORE BE IT RESOLVED, the City Council of the City of West Covina
acting as the successor agency to the West Covina Redevelopment Agency does hereby resolve
as follows:
SECTION 1. That the City of West Covina City Council acting as the successor agency
to the West Covina Redevelopment Agency hereby authorizes the establishment of an
investment account with the office of the California State Treasurer Local Agency Investment
Fund titled:
West Covina Successor Agency
1444 West GarvIey Avenue South, Room 308
West Covina, CA 91790
Attn: Finance
SECTION 2. That the City of West Covina City Council acting as the successor agency
to the West Covina Redevelopment Agency 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 West Covina City Council authorizes the following named local
officials to order the deposit or withdrawal of money in the Local Agency Investment Fund:
Thomas Bachman, Finance Director,
Dennis Swink, City Controller,
Vacant, Revenue Services Supervisor
And their succe
SECTION 4. That the City Clerk shall certify to the passage and adoption of the
resolution.
APPROVED AND ADOPTED on this 215t day of February, 2012.
A'ru ZJO-4
M or ichael Touhey
a
Resolution No. 2012-12
Page 2
I, LAURIE CARRIC011 CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly: adopted by the City Council of the City of West Covina,
California, at a regular meeting held thereof on the 21 st day of February, 2012 by the following
vote of the City Council:
AYES:
Herfert,
Sanderson, Sykes, Touhey
NOES:
None
ABSENT:
None
ABSTAIN:
None
City Clerk L4urie Carrico
APPROVED AS TO
Attorney Arnold Alvarez-Glasman