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. City of Culver City California Agenda Item Report Meeting Date: 06/08/15 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 Item Number: JC 3 Fiscal Impact: Yes No X General Fund: Yes No Public Hearing: Action Item: Attachments: X Commission Action Required: Yes No X Public Notification: Agendas and Meetings City Council (06/03/15). Meetings and Agendas Successor Agency (06/03/15) Date: ______________ Department Approval: Jeff Muir (06/01/15) Chief Financial Officer: Jeff Muir (06/01/15) City Attorney Approval: Carol Schwab (by H. Baker) (06/01/15) City Manager Approval: John M. Nachbar (06/02/15) 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 wi...
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