HomeMy WebLinkAboutTC Res 1964-10-15 (2)
RESOLUTION NO.
~7
RESOLUTION OF THE eIn COUNCIL 07 THE CITY
OF TIBURON AUTHORIZDfG 'rREASURER TO IWBS'f
IN UNl'l'bj~ STATES 00VERm4EHT OBLIGATIOH!
WHEREAS, pursuant to Sections 53600-53608 ot the Government
Code of the S~ate of California tne legislative body ot the City
1e authorized to inveat any surplus money it may have 1n ita
treuu17 in oertain type. or investments J and
WBlmEAS, Section 53607 or the Government Code provides that,
~. authority of tbe legislative body to 80 invest or reinveat
aurplus funda of tne City, or to sell or exchange securities 80
purchaaed, mar be delegated by tne legislative body to the C1ty
Treasurer; and
WHEREAS, tne City Council desires to delegate tn. au~or1ty
to invest or reinveat and to .el1 or exchange United States
Treuur)' note., bonds, bills ~__Q~rtlrlcat.a or indebtean8S8,
or those tor which the faith and e'redlt ot the United States are
pledged for the payment of principal and interest to the City
TNasurer j
NO'I'. niEREFORE, :BE IT RESOLVED AS FOLLOWS:
1. The City Treaeurer 18 authorized to invest or reinvest,
surplus money or the City contained in the treasury, which Bald
money is not required for the immediate necessit1es of the City,
1n such proportions as the Treasurer may de.v. wise or expedient~
1n Un1ted States Treasury note., bonds, bills or certificates
of 1ndebtednesa, or those for whiob the faith and credit of the
United States are pledged for the payment of principal and In-
terest, all aa provided in Subsection (b) ot Section 53601 of
the Government Code f and the SAid 'rreaaurer is further authorized
to a.ll or exchL~e any of said securities so purchased.
2. Tn. Treasurer &hall Assume full reapona1bil1ty for such
transactions until such time as the delegation of authority
granted hereby 1a revoked.
3. The Treaaurer 18 directed to make monthly reports of
all transactions hereby author1zed to the City Council.
PASSED AND ADOPTED at a meeting of the City Councll of the
City of T1buron on the 15th day of October, 1964 by the fol-
lowing vote:
AYES:
Councilmen: Z:kZ~ ~,,<:~.,,-/-~~jF '-_ " <Z
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Counc llmen: -1....-..-< (
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HOES :
ABSENT: Counc lImen: -)u "'. .----
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GOROOJrW:-S lAi'.
Mayor of the City or
ArrEST:
'\-", ';'.?~ . k-<.' '..J..' ~ ,/:_, .1\ ~:-v--'<.._
LAW~E D. ROSE~ City ClerK
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