2008-16 RESOLUTION NO. 2008-16
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF GRAND TERRACE, CALIFORNIA,AUTHORIZING
SIGNERS FOR CALIFORNIA ASSET MANAGEMENT PROGRAM
WHEREAS,the City of Grand Terrace is a municipal corporation established under the
laws of the State of California; and
WHEREAS, the California Asset Management Trust was established pursuant to and in
accordance with Joint Powers Exercise of Powers Act, by a Declaration of Trust, made as
of December 15, 1989 and as subsequently amended, as a vehicle for public agencies to
jointly exercise their common power to invest bond proceeds and other funds; and
WHEREAS,the California Asset Management Program is an authorized investment
under the investment policy of the city and under government code section 53600; and
WHEREAS,the City of Grand Terrace periodically needs to update its authorized signers
with the California Asset Management Program; and
WHEREAS, authorized signers will have the authority to deposit and withdraw funds
with the California Asset Management Program on behalf of the City; and
WHEREAS, deposits may only come from and withdrawals may only be made to
designated, authorized City operating and City investment accounts; and
WHEREAS, California Asset Management Program requires the City to adopt a
resolution to change authorized signers on the account; and
THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE
HEREBY RESOLVES THE FOLLOWING:
1) All previous resolutions of designated authorized signers with the California Asset
Management Program are hereby revoked.
2) Authorized signers on the California Asset Management Program account are:
City Manager/Treasurer Thomas Schwab
Finance Director Bernard Simon
PASSED AND ADOPTED this 14th day of October, 2008.
Ma or of e City of Grand Terrace
Attest:
(&Z' 1 1 &,
City Clerk of the City of Grand Terrace
I, BRENDA MESA, City Clerk of the City of Grand Terrace, do hereby certify
that Resolution No. 2008- 16 was introduced and adopted at a regular meeting of the
City Council of the City of Grand Terrace held on the 14th day of October, 2008, by the
following vote:
AYES: Councilmembers Cortes, Miller and Buchanan; Mayor Pro Tem Garcia
and Mayor Ferre
NOES: None
ABSENT: None
ABSTAIN: None
Brenda Mesa, City Clerk
Approved as to form:
City Attorney