05. Treasurer/Deputy appointmentOFFICE OF ADMINISTRATIVE SERVICES
CUPERTINO
CITY HALL r:
10300 TORRE AVENUE • CUPERTINO, CA 95014-3255
TELEPHONE: (408) 777-3220 • FAX: (408) 777-3366
SITrvIMARY
Agenda Item No. ~
SUBJECT AND ISSUE
Meeting Date: February 2, 201 D
Adopt a Resolution Accepting the Treasurer and Deputy Treasurer Appointment.
BACKGROUND
Chaptex 730 of the statutes of 197b Section 16129.1 was added to the California Government Code
to create a Local Agency Investment Fund in tree State Treasury. This Section requires government
agencies to appoint a treasurer and deputy treasurer on an annual basis. The attached resolution
extends the current appointment of the City's treasurer and Deputy Treasurer.
This legislation was intended to provide ongoing review of investment issues by the governing
body.
RECOMMENDATION:
Adopt a resolution accepting the Treasurer and Deputy Treasurer appointment.
Submitted by:
Carol A. Atwood
Director of Administrative Services
Attachment A: Draft resolution
Approved for submission:
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~~~~
~T~ David W. Knapp
~ City Manager
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DRAFT
RESOLUTION N0.10-021
A RESOLUTION OF THE CITY COUNCII.OF THE CITY OF CUPERTINO
RESCINDING RESOLUTION N0.09-OI6 AND APPOINTING
TREASURER AND DEPUTY TREASURER
WHEREAS, the City has available funds to invest in accordance with principles of sound
treasury management; and
WHEREAS, the City annually adopts an investment policy;
WHEREAS, the City invests funds in accordance with provisions of California
Government Code Section 53600; and
NOW, THEREFORE BE TT RESOLVED, that the City Council of the City of Cupertino
hereby rescinds Resolution No. 09-016 and appoints Carol Atwood City Treasurer and David
Woo as Deputy Treasurer; and
BE IT FURTHER RESOLVED that the City Treasurer is empowered and specifically
authorized to invest and reinvest City funds in accordance with California Government Code
Section 53600; to buy, sell, trade and deal in authorized securities on margin or otherwise in
connection therewith and to pledge any and all securities for future delivery thereof.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 2nd day of February 2010 by the following vote:
Vote Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
APPROVED:
Mayor, City of Cupertino
ATTEST:
City Clerk
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