RESOLUTION R2023-__
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NAPA, STATE OF CALIFORNIA, authorizing THE INVESTMENT OF CITY OF NAPA MONIES IN THE LOCAL AGENCY INVESTMENT FUND (LAIF) AND AUTHORIZING CITY OFFICERS TO ORDER DEPOSITS OR WITHDRAWALS TO AND FROM THAT FUND WHEREAS, California Government Code Section 16429.1 establishes the Local Agency Investment Fund in the State Treasury for the deposit of money of a local agency for the 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 Government Code section 16429.1, for the purpose of investment as stated therein are in the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Napa, as follows:
1. Resolution No. R2003-60 adopted March 11, 2003 is hereby repealed.
2. 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 the provisions of California Government Code Section 16429.1 for the purpose of investment as stated therein, and verification by the State Treasurer’s Office of all banking information provide in that regard.
3. The City Council hereby authorizes the following City officers, and their successors in office, to order the deposit or withdrawal of monies in the Local Agency Investment Fund:
Stephen Potter City Manager
Elizabeth Habkirk Assistant City Manager
Vacant Finance Director
Rajneil Prasad Deputy Finance Director
4. This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Napa at a public meeting of said City Council held on the 4th day of March, 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST: ________________________
Tiffany Carranza
City Clerk
Approved as to form:
_________________________
Michael W. Barrett
City Attorney
R20X23-XX Page 1 of 3 April 4, 2023
R2023-__ Page 1 of 1 April 4, 2023
ATTACHMENT __
ATTACHMENT 1