HAYWARD CITY COUNCIL
RESOLUTION NO. 24 -________
Introduced by Council Member ________________
RESOLUTION REAFFIRMING THE STATEMENT OF INVESTMENT POLICY AND RENEWING THE DELEGATION OF AUTHORITY TO MAKE INVESTMENTS TO THE DIRECTOR OF FINANCE WHEREAS, by Resolution No. 22-300, dated December 6, 2022, the City Council adopted a Statement of Investment Policy for the City of Hayward; and WHEREAS, under section 53607 of the California Government Code, the authority of the legislative body to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased, may be delegated for a one-year period by the legislative body to the treasurer of the local agency, who shall thereafter assume full responsibility for those transactions until the delegation of authority is revoked or expires, and shall make a periodic report of those transactions to the legislative body. Subject to review, the legislative body may renew the delegation of authority pursuant to this section each year.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hayward that the FY 2024 Statement of Investment Policy is hereby reaffirmed as amended, and that the authority of the Director of Finance, or his or her designee, to make investments pursuant to the Policy is hereby renewed.
BE IT FURTHER RESOLVED that the Director of Finance and her/his successors in office is authorized to order the deposit or withdrawal of money in the accounts of the City of Hayward, the Public Financing Authority, the Successor Agency of the Redevelopment Agency of the City of Hayward, and the Housing Authority within the Local Agency Investment Fund of the State of California for the purpose of investment in accordance with the provisions of Section 16429.1 of the California Government Code; and further authorized to delegate responsibility for daily deposits or withdrawals of money in the above referenced accounts as required to ensure proper functioning of the fiscal operations of the City and these agencies.
IN COUNCIL, HAYWARD, CALIFORNIA __________________ 2024.
ADOPTED BY THE FOLLOWING VOTE:
AYES: COUNCIL MEMBERS:
MAYOR:
NOES: COUNCIL MEMBERS:
ABSTAIN: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
ATTEST:
City Clerk of the City of Hayward
APPROVED AS TO FORM:
City Attorney of the City of Hayward
ATTACHMENT II
ATTACHMENT II