APPROVED AS TO FORM AND LEGALITY
BY: _________________________________
ORSA COUNSEL
OAKLAND REDEVELOPMENT
SUCCESSOR AGENCY
RESOLUTION NO. 2023-____________
RESOLUTION PURSUANT TO GOVERNMENT CODE SECTION 53607
DELEGATING INVESTMENT AUTHORITY OF THE OAKLAND
REDEVELOPMENT SUCCESSOR AGENCY TO THE AGENC Y
TREASURER FOR FISCAL YEAR 2023-2024
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 it s treasurer for Fiscal Year 202 3-24 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 2023-2024; 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
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FURTHER RESOLVED : That t his Resolution shall take effect immediately upon its passage.
IN COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES – FIFE, GALLO, JENKINS, KALB, KAPLAN, RAMACHANDRAN, REID AND
PRESIDENT FORTUNATO BAS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
Secretary of the Oakland
Redevelopment Successor Agency