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OFFICE OF THE CITY ©URL
OAKLAND
APPROVED AS TO FORM AND LEGALITY
22JUN-3 AH 10: 08
BY:
ORSA COUNSEL
OAKLAND REDEVELOPMENT
SUCCESSOR AGENCY
Resolution No. 2022-
resolution PURSUANT TO GOVERNMENT CODE SECTION 53607
DELEGATING INVESTMENT AUTHORITY OF THE OAKLAND
REDEVELOPMENT SUCCESSOR AGENCY TO THE AGENCY
TREASURER FOR FISCAL YEAR 2022-2023
WHEREAS, Government Code Section 53607 authorizes the legislative body of a local agency to delegate its authority to invest or reinvest funds of the local agency and to sell or exchange securities to the treasurer of the local agency for a one-year period; and WHEREAS, the legislative body of the local agency may renew the delegation of its investment authority pursuant to Government Code Section 53607 each year; and WHEREAS, the Oakland Redevelopment Successor Agency (“Successor Agency”) wishes to delegate its authority to invest or reinvest funds of the Successor Agency and to sell or exchange securities so purchased to the its treasurer for Fiscal Year 2022-23 pursuant to Government Code Section 53607; and
WHEREAS, in compliance with the laws of the State of California, best financial practices and sound financial management the Agency Treasurer shall invest only in investments permitted by Government Code Section 53601 et. seq. and make regular reports of those transactions to the Agency; now, therefore, be it
RESOLVED: That the Successor Agency hereby determines that the preceding recitals are true and correct and hereby adopts and incorporates them into this Resolution; and be it FURTHER RESOLVED: That the Successor Agency hereby delegates to the Agency Treasurer the authority to invest or to reinvest funds of the Successor Agency, or to sell or exchange securities so purchased for Fiscal Year 2022-2023; and be it FURTHER RESOLVED: That the Agency Treasurer shall assume full responsibility for these transactions until the delegation of authority is revoked or expires; and be it
FURTHER RESOLVED: That this Resolution shall take effect immediately upon its passage.
IN SUCCESSOR AGENCY, OAKLAND, CALIFORNIA, JJUN 212022
PASSED BY THE FOLLOWING VOTE:
AYES - FIFE, GALLO, KALB, KAPLAN, REID, TAYLOR, THAO AND PRESIDENT FORTUNATO BAS %
NOES -
ABSENT-^
ABSTENTION -
ATTEST:
Secretary of the Oakland
Redevelopment Successor Agency
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