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1179
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Last modified
2/5/2016 4:11:47 PM
Creation date
2/5/2016 4:11:29 PM
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Resolutions
Number
1179
Date
1979-02-07
Description
Authorizing Deposit of City Monies in or Withdrawal From the Local Agency Investment Fund in the State Treasury
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® • <br /> RESOLUTION No. 1179 <br /> RESOLUTION AUTHORIZING DEPOSIT OF CITY MONIES IN <br /> OR WITHDRAWAL FROM THE LOCAL AGENCY INVESTMENT <br /> FUND IN THE STATE TREASURY <br /> RESOLVED, by the City Council of the City of the Town of <br /> Los Altos Hills , County of Santa Clara, State of California, that <br /> WHEREAS, the City Council has determined that the public <br /> interest and welfare will be served by the investment of temporarily <br /> idle City monies in the Local Agency Investment Fund (LAIF) and <br /> which in turn will be invested with State monies through the <br /> Pooled Money Investment Account to realize the maximum return <br /> consistent with safe and prudent treasury management; and <br /> WHEREAS , pursuant to Section 16429 .1 of the Government <br /> Code of California, the City Council may consent to a local govern- <br /> mental official having money in the City treasury not required for <br /> immediate needs,femitting such money to the State Treasury for <br /> deposit in the Local Agency Investment Fund for the purpose of <br /> investment; <br /> NOW, THEREFORE, IT IS HEREBY ORDERED as follows : <br /> 1. The City of the Town of Los Altos Hills, whose ad- <br /> dress is 26379 Fremont Road, Los Altos Hills, California 94022, <br /> hereby agrees to deposit or withdraw money in the Local Agency <br /> Investment Fund in the State Treasury in accordance with the pro- <br /> visions of Section 16429 . 1 of the Government Code for the purpose <br /> of investment as stated therein. <br />
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