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32 RESOLUTION NO. 2022-R
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CULVER CITY, CALIFORNIA, AUTHORIZING CERTAIN
CITY OFFICIALS TO DEPOSIT AND WITHDRAW FUNDS
AS WELL AS MAKE ACCOUNT CHANGES TO THE
LOCAL AGENCY INVESTMENT FUND AND RESCINDING
RESOLUTION NO. 2019-R064.
WHEREAS, the Local Agency Investment Fund (“LAIF”) 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 City Council 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 City.
NOW, THEREFORE, the City Council of the City of Culver City, California, DOES HEREBY RESOLVE as follows:
SECTION 1. The City Council hereby authorizes the deposit and withdrawal of City 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 officers holding the title(s) specified herein below or their successors in office are each hereby authorized to order the deposit or withdrawal of monies 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:
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32 John M. Nachbar, City Manager
Signature
Onyx Jones, Assistant City Manager
Signature
Lisa Soghor, Chief Financial Officer
Signature
Mary Noller, Budget and Financial
Operations Manager
Signature
Punit Chokshi, Senior Management
Analyst Signature
SECTION 3. This Resolution shall be effective immediately upon its adoption and shall remain in full force and effect until rescinded by the City Council by Resolution and a copy of the resolution rescinding this Resolution is filed with the State Treasurer’s Office.
SECTION 4. Resolution No. 20 19-R064, which previously authorized the signatories for the City LAIF account, is hereby rescinded.
APPROVED and ADOPTED this _________ day of _____________, 2022.
DR. DANIEL LEE, Mayor
City of Culver City
ATTEST APPROVED AS TO FORM
JEREMY GREEN, City Clerk HEATHER S. BAKER, City Attorney
A22-00026