HomeMy WebLinkAboutAgenda Report - September 3, 2003 K-01LODI CITY COUNCIL
Carnegie Forum
1
=' 305 West Pine Street, Lodi
AGE] A- Lodi Public Improvement Corp.
Date: September 3, 2003
Time: 7:00 p.m.
MEETING OF THE
Public Improvement Corporation (PIC)
of the City of Lodi
A. Call to order — President
B. Roll call to be recorded by Secretary
Res. C. Adopt resolution for the Lodi Public Improvement Corporation to authorize
investment of monies in Local Agency Investment Fund (FIN)
D. Comments by public on non -agenda items
E. Adjournment
Pursuant to Section 54954.2(a) of the Government Code of the State of California, this agenda was posted at least
72 hours in advance of the scheduled meeting at a public place freely accessible to the public 24 hours a day.
Susan J. Blackston
Secretary
Lodi Public Improvement Corporation
JACITYCLRKF0RM&pic09-03-03.doc x/29/03
AGENDA TITLE: Adopt Resolution for the Lodi Public Improvement Corporation to
Authorize Investment of Monies in Local Agency Investment Fund (LAIF)
MEETING DATE: September 3, 2003
N ECOMMENDE.D ACTION: Adopt Resolution for the Lodi Public improvement Corporation ton
Authorize Investment of Monies in Local Agency Inv . estmonfFun
(LAIF)I
BACKGROUND INFORMATION- Chapter 73.0 of the statutes of 19.76 Section 16429A was added to:.the
California Govemmen[:Oodelo:,creite. a Lociii AIjencyinvestmeriou.nd in
the State Treas ury for t he deposit of money of �a local agency,for 'purposes
3f investment by the State. Treasurer. The:City of Lodi lnvestM66t Oolii6y- and internal Control Guidolinesire
required, by Government CW6�Secfion 53601, to be submitted to the City Council annually in Septemberpr review
and adoption.
Annual adoption of the policy and internal Gontrol guidelines meets LAIF requirement for the City of Lodi by the
follo,wing actions, but not for the Lodi Public Improvement Corporatiow
* City of Lod"i Investment Policy, page 4, cites 7he City of Lodi is authorized, by policy to invest in T. he Local
Agency Investment Fund, enabling . legislation for the LAIF Is Section 16429 1 of the California: Government
Code.
* Treasury Function Responsibilities, page 11, Internal Control Guidelines, designates authorized p000ns by
title.
Certified resolution by the City Council of the City of Lodi approving the City of Lodi Annual Investm:ent.
Policy and Inlemal Coritrol Guidelines.
FUNDINQ,. None
Prepared by: M. Maxine Cadwallader, Revenue Manager
I PP
I Y e
Fi anc; e b irector
Flynn -- City Manager
T1 CA STPT7 TRERSUFER'LAIF
916 G54 9931 P.02
RESOLUTION NO. 91-2
A RESOLUTION OF
THE LODI PUBLIC IMPROVEMENT CORPORATION SEN 1:991
TO AUTHORIZE INVESTMENT OF MONIES
IN LOCAL AGENCY INVESTMENT FUND STATE jURER`S OFFICE
INVESTMENT O.MS10,N
WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section
16429.1 was added to the California Government Coda to create a Local
Agency Investment Fund (LAI irstinestag Treasury for the deposit >of
money of a local agency for purposes of investment by the State Treasurer;
and
WHEREAS, the Board of Directors does hereby find that the
deposit and withdrawal of money in LAIF in accordance with the provisions
of Section 16429.1 of the Government Code for the purpose of investment as
stated therein as in the besC interest of the Nodi Public Improvement
Corporation (LPIC)
NO'S THEREFORE, BE IT RESOLVED, that the Board of Directors does
hereby authorize the deposit and withdrawal of monies in LAIF of the State
Treasury in accordance with the provisions of Section 16429.1 of the
Government Code for the purpose of investment as stated therein.
DE IT FURTHER RESOLVED, that the following LPIC officers ;and
staff or their successors in office shall be authorized to order the
deposit or withdrawal of monies in LAIF:
David Mr Hinchman, President
uses W. Pinkerton, Jr., Vice President
H. D® Flynn, Treasurer
Alice Ma Reimche, Secretary
Diana White -Messing, Deputy Treasurer
Marcella Cadwallader, Revenue/Collections Technician
Dated, September 4, 1991
I hereby certify that Resolution No. 91®2 was passed and adopted
by the Board of Directors of the LPIC in a regular meeting held September
4, 1991 by the following vote;
Ayeso
Noes:
Absent:
R-L.AIF/TXTA.02d
Authorizing Members - Pennino, Pinkerton, Sieglock,
Snider and Hirschman (President
Authorizing Members - None
qf-
Authorizing Members done
Alice M. Reimche The Fore oingocument s. Certified
Secretary To Be A cor: ect copy of .rhe: Original
On F-i!e it, 'r is Office.
91-2 jennifee M. Perrin
):puty City Clerk, City Of. Lodi
L� 'ed
RESOLUTION NO. LPIC2003-02
A RESOLUTION 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 Board of Directors does hereby find that the deposit and
withdrawal of money in the Local Agency Investment Fund in accordance with the
provisions of Section 16329.1 of the Government Code for the purpose of investment as
stated therein as in the best interests of the Lodi Public Improvement Corporation.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors does hereby
authorize the deposit and withdrawal of Lodi Public Improvement Corporation 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; and
BE IT FURTHER RESOLVED that the following Lodi Public Improvement
Corporation officers or their successors in office shall be authorized to order the deposit
or withdrawal of monies in the Local Agency Investment Fund:
TITLE
President
Vice President
Treasurer
Secretary
Deputy Treasurer
I hereby certify that Resolution No. LPIC2003-02 was passed and adopted by the
Board of Directors of the Lodi Public Improvement Corporation in a regular meeting held
September 3, 2003, by the following vote:
AYES: DIRECTORS — Beckman, Howard, Land, and President
Hitchcock
NOES: DIRECTORS — None
ABSENT: DIRECTORS — Hansen
ABSTAIN: DIflECTORS —None
SUSAN J. BLACKSTON
Secretary
LPIC2003-02