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Title:
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JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD AGENDA ITEM: Adoption of Respective Resolutions Authorizing Designated Representatives to Deposit and Withdraw Funds as Well as Make Account Changes with the State Local Agency Investment Fund on Behalf of Culver City and the Successor Agency to the Culver City Redevelopment Agency.
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City of Culver City, California
Agenda Item Report
RECOMMENDATION:
Staff recommends the City Council and the Successor Agency to the Culver City
Redevelopment Agency (Successor Agency) Board adopt respective resolutions
authorizing designated representatives to deposit and withdraw funds as well as
make account changes to the City/Successor Agency State Local Agency
Investment Fund (LAIF) accounts.
BACKGROUND / DISCUSSION:
The City and the Successor Agency both have general investment accounts with the
LAIF as authorized by the City’s and Successor Agency’s Investment Policies. The
City recently hired an Assistant Chief Financial Officer. In order to add this position
to those authorized to contact LAIF and make deposits or withdrawals, updated
resolutions must be filed with the LAIF. The authorized positions would be:
1. City Manager / Executive Director
2. Chief Financial Officer
3. Assistant Chief Financial Officer
4. Revenue Division Manager
Meeting Date: 06/08/15 Item Number: JC-3
JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD AGENDA ITEM: Adoption
of Respective Resolutions Authorizing Designated Representatives to Deposit
and Withdraw Funds as Well as Make Account Changes with the State Local
Agency Investment Fund on Behalf of Culver City and the Successor Agency to
the Culver City Redevelopment Agency.
Contact Person/Dept.: Jeff Muir, CFO Phone Number: 310-253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No []
Public Hearing: [] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No[X] Date: ______________
Public Notification: Agendas and Meetings – City Council (06/03/15). Meetings and
Agendas – Successor Agency (06/03/15)
Department Approval:
Jeff Muir (06/01/15)
City Attorney Approval:
Carol Schwab (by H. Baker) (06/01/15)
Chief Financial Officer:
Jeff Muir (06/01/15)
City Manager Approval:
John M. Nachbar (06/02/15) City of Culver City, California
Agenda Item Report
FISCAL ANALYSIS:
This item does not create a fiscal impact.
ATTACHMENTS:
Proposed Resolutions
MOTION:
That the City Council and Successor Agency Board:
Adopt respective resolutions authorizing designated representatives to deposit
and withdraw funds, as well as make account changes, with the State Local
Agency Investment Fund
MEETING DATE: 06/08/15
AGENDA ITEM: Adoption of Respective Resolutions Authorizing
Designated Representatives to Deposit and
Withdraw Funds as Well as Make Account Changes
with the State Local Agency Investment Fund on
Behalf of Culver City and the Successor Agency to
the Culver City Redevelopment Agency.
ATTACHMENTS
1. Proposed City Resolution 1-2
2. Proposed Successor Agency Resolution 3-4
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