RESOLUTION NO. 2024-
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MERCED, CALIFORNIA,
AUTHORIZING INVESTMENT OF CITY OF
MERCED MONIES IN LOCAL AGENCY
INVESTMENT FUND
WHEREAS, Pursuant to Chapter 730 of the Statutes of 1976, Section 16429.1 was added to the California Government Code to create a Local Agency Investment Fund in the State Treasury for the deposit of money of a local agency for purposes of investment by the State Treasurer; and, WHEREAS, The City Council does hereby find that the deposit and withdrawal of money in the Local Agency Investment Fund in accordance with the provisions of Section 16429.1 of the Government Code for the purposes of investment as stated therein is in the best interests of the City of Merced.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MERCED
DOES HEREBY RESOLVE, DETERMINE, FIND, AND ORDER AS
FOLLOWS:
SECTION 1. The City Council hereby authorizes the deposit and withdrawal of the City of Merced monies 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 therein.
SECTION 2. The following City of Merced officers or their successors in office shall be authorized to order the deposit or withdrawal of monies in the Local Agency Investment Fund: M. Venus Rodriguez, Finance Officer; Kuljit Singh, Deputy Finance Officer; Frank Quintero, Deputy City Manager or D. Scott McBride, City Manager.
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1 X: Resolutions\2024 FinancelAuthorizing Investment in LAIF.docx PASSED AND ADOPTED by the City Council of the City of Merced at a egular meeting held on the _day of 2024, by the
ollowing vote
AYES: Council Members:
NOES: Council Members:
ABSENT: Council Members:
ABSTAIN: Council Members:
APPROVED:
MATTHEW SERRATTO, MAYOR
Mayor
ATTEST:
D. SCOTT MCBRIDE, CITY CLERK
BY:
Assistant/Deputy City Clerk
(SEAL)
APPROVED AS TO FORM:
CRAIG J. CORNWELL, CITY ATTORNEY
Sai Cornwell 112/24
City Attorner