RESOLUTION NO. (N.C.S.)
RESOLUTION AUTHORIZING STAFF TO ACT ON BEHALF OF THE CITY REGARDING THE CITY’S NEW YORK LIFE INVESTMENTS ACCOUNTS WHEREAS, the New York Life retirement plan (Retirement Plan) is a closed, single-employer defined benefit pension plan that was established on September 1, 1954; and WHEREAS, the City has an agreement with New York Life Investments to hold and invest plan assets of the Retirement Plan; and WHEREAS, the current list of authorized signers is outdated due to staff turnover.
NOW, THEREFORE, BE IT RESOLVED that the Salinas City Council hereby authorizes that the following officers, or their successors in office, shall have the authority to act on behalf of the city, including to sell, assign, and transfer funds, regarding the City of Salinas’ New York Life Investments accounts:
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Rene Mendez Selina Andrews
City Manager Director of Finance
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Abe Pedroza Eric Burl
Assistant Finance Director Senior Accountant
PASSED AND APPROVED this 12th day of November, 2024, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
APPROVED:
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Kimbley Craig, Mayor
ATTEST:
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Patricia M. Barajas, City Clerk
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