HomeMy WebLinkAboutTC Res 1964-11-09 (3)
RESOLUTION NO. 4 I
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF TIBURON AUTHORIZING THE TREASURER TO
INVEST IN CERTIFIED DEPOSITS IN BANKS AUTHORIZED
AS DEPOSITORIES
WHEREAS, pursuant to Sections 53600-53603 of the Govern-
ment Code of the State of California, the legislative body of
the City is authorized in invest any surplus money it may have
in its Treasury in certain types of investmentsj and
WHEREAS, Section 53607 of the Government Code provides
that the authority of the legislative body to so invest or
re-invest surplus funds of the City, or to sell or exchange
securities so purchased, may be delegated by the legislative
body to the City Treasurerj and
~VHEREAS, the City Council desires to delegate the autho-
rity to invest or re-invest City funds to the City Treasurer;
NOW, THEREFORE, BE IT RESOLVED as follows:
1. The City Treasurer is authorized to invest or re-in-
vest surplus money of the City contained in the Treasury, or
inactive City funds, which said money or funds are not required
for the immediate necessities of the City, in such proportions
as the Treasurer may deem wise or expedient in certificated
deposits 6f banks authorized as depositories.
2, The Treasurer shall assume ft~ll responsibility for
such transactions until such time as the delegation of author-
ity granted hereby is revoked
3. The Treasurer is directed to make monthly reports
of all transactions hereby authorized to the City Council.
PASSED AND ADOPTED at a meeting of the City Council of
the City of Tiburon on the 9th day of November
1964, by the following vote:------
AYES:
Councilmen: ELLINWOOD, HANNAHS, HOFFMIRE, SOUZA, STRAWBRIDGE
NOES:
Councilmen: NONE
ABSENT: Councilmen: NONE
>&11f.., ?/. ~
GORDeN W. STRA1
Mayor of the City of
GE
buron
ATTEST:
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'------L ~, E D. HO , l~Clerk