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RESOLUTION No. 1179
RESOLUTION AUTHORIZING DEPOSIT OF CITY MONIES IN
OR WITHDRAWAL FROM THE LOCAL AGENCY INVESTMENT
FUND IN THE STATE TREASURY
RESOLVED, by the City Council of the City of the Town of
Los Altos Hills , County of Santa Clara, State of California, that
WHEREAS, the City Council has determined that the public
interest and welfare will be served by the investment of temporarily
idle City monies in the Local Agency Investment Fund (LAIF) and
which in turn will be invested with State monies through the
Pooled Money Investment Account to realize the maximum return
consistent with safe and prudent treasury management; and
WHEREAS , pursuant to Section 16429 .1 of the Government
Code of California, the City Council may consent to a local govern-
mental official having money in the City treasury not required for
immediate needs,femitting such money to the State Treasury for
deposit in the Local Agency Investment Fund for the purpose of
investment;
NOW, THEREFORE, IT IS HEREBY ORDERED as follows :
1. The City of the Town of Los Altos Hills, whose ad-
dress is 26379 Fremont Road, Los Altos Hills, California 94022,
hereby agrees to deposit or withdraw money in the Local Agency
Investment Fund in the State Treasury in accordance with the pro-
visions of Section 16429 . 1 of the Government Code for the purpose
of investment as stated therein.
• •
2. Robert E. Crowe, City Manager, or Pearl Croy, City
Treasurer, be and each is hereby authorized to order the deposit
or withdrawal. of money in the Local Agency Investment Fund.
REGULARLY passed and adopted this 7th Day of February,
1979 .
May__ .r
ATTEST :
City Clerk
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