08-41 RESOLUTION No. 08-41
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA,
AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL AGENCY INVESTMENT
FUND
WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section 16429.1
was added to the California Government Code to create a Local Agency Investment
Fund in the State Treasury for the deposit of money of a local agency for purposes of
investment by the State Treasurer; and
WHEREAS, the City Council does hereby find that the deposit and withdrawal of
money in the Local Agency Investment Fund in accordance with the provisions of
Section 16429.1 of the Government Code for the purpose of investment as stated
therein as in the best interests of the City of Menifee.
NOW THEREFORE, BE IT RESOLVED, that the City Council does hereby
authorize the deposit and withdrawal of City of Menifee monies in the Local Agency
Investment Fund in the State Treasury in accordance with the provisions of Section
16429.1 of the Government Code for the purpose of investment as stated therein, and
verification by the State Treasurer's Office of all banking information provided in that
regard.
BE IT FURTHER RESOLVED, that the following City of Menifee officers or their
successors in office shall be authorized to order the deposit or withdrawal of monies in
the Local Agency Investment Fund:
George Wentz Gary Thompson Misty V. Cheng
Manager ity Treasurer Director of Finance
Cgni r e ignatur
PASSED AND ADOPTED, by the City Council of the City of Menifee of the State
of California on December 2, 2008.
Wallace Edgerton, Mayor
Attest:
&Y—tj
athy Bennett, City Clerk