HomeMy WebLinkAboutRDA AGENCY INV FUND 12-20-82DATE:
TO:
FROH:
SUBJECT:
December 15, 1982
REDEVELOPMENT AGENCY
No. 5
12-20-82
Inter-eom
Bill Husto~ity Manager
Ron Nault,~-k~rector
Resolution RDA 82-14 Requesting that the Tustin Community Redevelop-
ment Agency be Accepted as a Member of the Local Agency Investment
Fund.
RECOMMENDATION
The Agency adopt Resolution RDA 82-14 requesting that the Tustin Community
Redevelopment Agency be accepted as a member of the Local Agency Investment Fund.
BACKGROUND
In order to maximize the interest earning on any idle funds of the Redevelopment
Agency it is recommennded that the Agency become a member of the Local Agency
Investment Fund.
RAN:mm
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RESOLUTION NO. RDA 82-14
A RESOLUTION OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY,
REQUESTING THAT THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
BE ACCEPTED AS A MEMBER OF THE LOCAL AGENCY INVESTMENT FUND.
WHEREAS, Section 16429.1 of the Government Code establishes the Local Agency
Investment Fund within the Office of the State Treasurer; and
WHEREAS, the establishment of the Local Agency Investment Fund allows
governmental units to deposit surplus monies with the State Treasurer for the
purpose of investment; and
WHEREAS, the Tustin Community Redevelopment Agency of the City of Tustin feels
that it would be in the best interest of the citizens of Tustin to have as
diversified an investment portfolio as possible;
NOW, THEREFORE, THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY DOES RESOLVE that
the Tustin Community Redevelopment Agency agrees to deposit or withdraw monies
in the Local Agency Investment Fund in the State Treasury, in accordance with
the provision of Section 16429.1 of the Government Code, and that the Agency
Treasurer Ronald A. Nault, Finance Coordinator Loni Hamblin, and/or their
successors of the Tustin Community Redevelopment Agency to order deposits or
withdrawals in the Local Agency Investment Fund.
PASSED AND A~)OPTED at a regular meeting of the Tustin Community Redevelopment
Agency of the City of Tustin on the day of ,
1982.
Richard B. Edgar
Chairman
ATTEST:
Mary E. Wynn
Recording Secretary
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