JOINT ITEM: Adoption of City Council and Redevelopment Agency Resolutions Authorizing the Chief Financial Officer and His 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 of the Culver City Redevelopment Agency. City of Culver City California City Council Agenda Item Report Meeting Date: 04/07/2008 AGENDA ITEM: JOINT ITEM: Adoption of City Council and Redevelopment Agency Resolutions Authorizing the Chief Financial Officer and His 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 of the Culver City Redevelopment Agency. Contact Person/Dept.: Jeff Muir Chief Financial Officer Fiscal Impact: Yes No x Phone Number: (310)253 5871 General Fund: Yes No x Item Number: J 1 Public Hearing: Public Notification: Master Notification List on (04/02/2008) Action Item: Attachments: x Department Approval: Jeff S. Muir (04/01/08) Fiscal Impact Review: Jeff S. Muir (04/01/08) City Attorney Approval: Carol Schwab (by H. Baker) (04/01/08) City Manager Approval: Jerry B. Fulwood (04/02/08) RECOMMENDATION: Staff recommends the City Council: adopt a resolution authorizing Chief Financial Officer Jeff Muir and his designated representatives Deputy City Treasurer Karen S. Maggio and Treasury Division Manager Nagam Rao to deposit and withdraw funds as well as make account changes to the State Local Agency Investment Fund (LAIF). Staff recommends the Redevelopment Agency: adopt a resolution authorizing Chief Financial Officer Jeff Muir and his designated representatives Deputy City Treasurer Karen S. Maggio and Treasury Division Manager Nagam Rao to deposit and withdraw funds as well as make account changes to the State Local Agency Investment Fund (LAIF). BACKGROUND: The City and the Redevelopment Agency both have general investment accounts with the LAIF as authorized b...
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