Resolution No. 5244
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RESOLUTION NO. 5244
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON AUTHORIZING THE INVESTMENT OF CITY
MONIES FROM ANY CITY FUND IN THE LOCAL INVEST-
MENT FUND IN THE STATE TREASURY.
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WHEREAS, pursuant to Chapter 730 of the Statutes
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of 1976 Section 16429.1 was added to the California Govern-
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ment Code to create a Local Agency Investment Fund in the
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State Treasury for the deposit of money of a local agency
for purposes of investment by the State Treasurer; and
WHEREAS, The City of Vernon 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 purposes
of investment as stated therein is in the best interests
of the City of Vernon.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
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COUNCIL OF THE CITY OF VERNON AS FOLLOWS:
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Section 1: The City Council of the City of
Vernon does hereby authorize the deposit and withdrawal
of all City monies from any City Fund 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.
Section 2: The City Council of the City of
Vernon further resolves that the following one officer
or his successor in office shall be authorized to order
the deposit or withdrawal of monies in the Local Agency
Investment Fund:
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Bruce V. Malkenhorst
(Name)
City Treasurer
(Title)
Section 3: That the City Clerk of the City of
Vernon shall certify to the passage of this resolution and
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thereupon and thereafter the same shall be in full force
and effect.
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APPROVED~AND ADOPTED this 7th day of January,
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1986.
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-~ ' ~()NIS C. MAL~G, M~or
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BRUCE V. MALKENHORST, City Treasuer
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STATE OF CALIFORNIA
2 COUNTY OF LOS ANGELES
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I, BRUCE V. MALKENHORST, City Clerk of the City
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of Vernon, do hereby certify that the foregoing Resolution,
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being Resolution No. 5244, was duly adopted by the City
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Council of The City of Vernon, and was approved by the
M f. d' an adj ourned . f . C . 1
ayor 0 sal Clty at 0 regular meetlng 0 the Clty ounCl
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held on Tuesday, January 7, 1985.
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BRUCE V. MALKENHORST,
City Clerk
(SEAL)
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