APPROVED AS TO FORM AND LEGALITY
___________________________
ORSA COUNSEL
OAKLAND REDEVELOPMENT
SUCCESSOR AGENCY
RESOLUTION NO. 2026 -______________
RESOLUTION PURSUANT TO GOVERNMENT CODE SECTION 53607
DELEGATING INVESTMENT AUTHORITY OF THE OAKLAND
REDEVELOPMENT SUCCESSOR AGENCY TO THE AGENCY
TREASURER FOR FISCAL YEAR 2026-2027
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 (“Agency”) wishes to delegate its authority to invest or reinvest funds of the Agency and to sell or exchange securities so purchased to the its treasurer for Fiscal Year 202 6-27 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 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 Agency hereby delegates to the Agency Treasurer the authority to invest or to reinvest funds of the Agency, or to sell or exchange securities so purchased for Fiscal Year 2026-2027; and be it
2 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 COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - BROWN, FIFE, GALLO, HOUSTON, RAMACHANDRAN, UNGER, WANG, AND
PRESIDENT JENKINS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
Secretary of the
Oakland Redevelopment Successor Agency