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32 RESOLUTION NO. 2024-SA____
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR
AGENCY TO THE CULVER CITY REDEVELOPMENT AGENCY
(“SUCCESSOR AGENCY”), AUTHORIZING CERTAIN SUCCESSOR
AGENCY OFFICIALS TO DEPOSIT AND WITHDRAW FUNDS AS WELL
AS MAKE ACCOUNT CHANGES TO THE LOCAL AGENCY
INVESTMENT FUND AND RESCINDING RESOLUTION NO. 2024-SA004.
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 Board of Directors of the Successor 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.
NOW, THEREFORE, the Board of Directors of the Successor Agency to the Culver City Redevelopment Agency DOES HEREBY RESOLVE as follows:
SECTION 1. The Board of Directors of the Successor Agency hereby authorizes the deposit and withdrawal of Successor Agency monies in the Local Agency Investment Fund in the State Treasury in accordance with Government Code secti on 16429.1, et seq. for the purpose of investment as provided therein.
SECTION 2. The following City of Culver 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
Lisa Soghor, Chief Financial Officer
Signature
Elizabeth Shavelson, Assistant Chief
Financial Officer 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 This Resolution shall be effective immediately upon its adoption and shall remain in full force and effect until rescinded by the City Council by resolution and a copy of the resolution rescinding this Resolution is filed with the State Treasurer’s Office.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 Resolution No. 20 24-SA004, which previously authorized the signatories for the City LAIF account, is hereby rescinded.
APPROVED AND ADOPTED, this day of , 2024.
YASMINE-IMANI MCMORRIN, Chair
Successor Agency to the Culver City
Redevelopment Agency
ATTEST: APPROVED AS TO FORM:
JEREMY BOCCHINO, Secretary HEATHER S. BAKER, Successor Agency General Counsel
A22-00027