2015-03 v
- RESOLUTION NO. 2015-03
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SUCCESSOR AGENCY OF THE CITY OF GRAND TERRACE
COMMUNITY REDEVELOPMENT AGENCY, AUTHORIZING
SIGNERS FOR THE LOCAL AGENCY INVESTMENT FUND
WHEREAS, the Successor Agency of the Grand Terrace Community Redevelopment
Agency is a public agency established under the laws of the State of California; and
WHEREAS, the Local Agency Investment Fund was established by Chapter 730,
Statutes of 1976. This fund enables local government agencies or trustees to remit surplus funds,
not needed for immediate expenditures, to the State Treasurer for the purpose of investment on
behalf of the agency. The State Treasurer will invest such funds as part of a pooled money
investment account in order to derive the maximum rate of return possible; and
WHEREAS, the Local Agency Investment Fund is an authorized investment under the
investment policy of the City and under Government Code Section 53600; and
WHEREAS, on January 30, 2012, the City Council elected, by Resolution 2012-08, to
authorize the Successor Agency to the former Grand Terrace Community Redevelopment
Agency (Successor Agency), to invest in the Local Agency Investment Fund in accordance with
the provisions of Section 16429.1 of the Government Code and approved a list of authorized
signers to the account; and
WHEREAS, the Successor Agency periodically needs to update its authorized signers
with the Local Agency Investment Fund; and
WHEREAS, authorized signers will have the authority to deposit and withdraw funds
with the Local Agency Investment Fund on behalf of the Successor Agency; and
WHEREAS, deposits may only come from and withdrawals may only be made to
designated, authorized signers on the account.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR
AGENCY OF THE FORMER GRAND TERRACE COMMUNITY REDEVELOPMENT
AGENCY DOES RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. All previous resolutions of designated authorized signers with the Local
Agency Investment Fund are hereby revoked.
S.A. RESOLUTION NO. 2015-03 PAGE 1 OF 3 JUNE 9, 2015
Section 2. The following officers or their successors in office shall be authorized signers
on the Local Agency Investment Fund account:
Position Individual Name
Agency Director G. Harold Duffey
Agency Finance Director Cynthia A. Fortune
Agency Principal Accountant Domilena R. Gonzales
SECTION 3. One of the individuals named as an authorized signer acting on behalf of the
Successor Agency is authorized to initiate transactions and execute documents on behalf of the
City.
SECTION 4. Interest payments, withdrawals and matured investments may only be
transferred to an account of the Successor Agency or paid by written demand to the Successor
Agency.
SECTION 5. The Agency Secretary shall certify to the passage and adoption of this
Resolution, and it shall take effect and be in force.
PASSED, APPROVED AND ADOPTED this 9th day of June, 2015.
'�arcy cNaboe, rperson
Ses c
ATTEST:
Pat Jac ez- es, �Cecretary
S.A. RESOLUTION NO. 2015-03 PAGE 2 OF 3 JUNE 9, 2015
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I, Pat Jacquez-Nares, Agency Secretary to the Successor Agency, do hereby certify that
Resolution No. 2015-03 was introduced and adopted at a regular meeting of the Board of
Directors of the Successor Agency held on the 9tn day of June, 2015,by the following vote:
AYES: Agency Members Mitchell, Hussey, Wilson, Vice Chair Robles,
Chair McNaboe
NOES: None
ABSENT: None
ABSTAIN: None
Pat Jacquez 1 ar s, A ncy Sec tars
Approved as to form:
Richard L. Adams, Agency Council
S.A. RESOLUTION NO. 2015-03 PAGE 3 OF 3 JUNE 9, 2015