HomeMy WebLinkAboutResolution - - JPFA-54 - 12/1/2022 RESOLUTION NO. JPFA-54
A RESOLUTION OF THE BOARD OF THE FRESNO JOINT
POWERS FINANCING AUTHORITY, DESIGNATING AND
AUTHORIZING CERTAIN FINANCE OFFICERS OF THE
CITY OF FRESNO TO TAKE CERTAIN ACTIONS AS
REQUIRED FOR THE PRUDENT FINANCIAL
ADMINISTRATION AND SAFEKEEPING OF
AUTHORITY FUNDS AND PROPERTY
WHEREAS, the City of Fresno (the City) and the Redevelopment Agency of the
City of Fresno (the Agency) have executed a Joint Exercise of Powers Agreement,
dated October 25, 1988, as amended November 1, 1991 (the Joint Powers
Agreement), between the City and the Agency that creates and establishes the Fresno
Joint Powers Financing Authority(the Authority); and
WHEREAS, the Joint Powers Agreement defines the "Law" as Articles 1 through 4
of Chapter 5 of Division 7 of Title 1 of the Government Code; and
WHEREAS, the Joint Powers Agreement designates the Treasurer of the City
as the Treasurer of the Authority; and
WHEREAS, the Treasurer is the depositary of the Authority having custody of all
money of the Authority, from whatever source, with the powers, duties, and
responsibilities specified in Section of the Law, subject to the applicable provisions of
any indenture, trust agreement or resolution providing for a trustee or other fiscal
agent; and
WHEREAS, the Joint Powers Agreement designates the Treasurer of the City
as the Controller of the Authority (hereafter the Treasurer/Controller), with the powers,
duties, and responsibilities specified in Section 6505.5 of the Law, and the
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Date Adopted: 12/01/2022
Date Approved: 12/01/2022 Resolution No. JPFA-54
Effective Date: 12/01/2022
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Treasurer/Controller is authorized to draw checks to pay demands against the
Authority when the demands have been approved by the Authority; and
WHEREAS, the Law permits the contracting parties to designate the public
officers or persons who will have charge of, handle, or have access to any property
of the Authority, and the Joint Powers Agreement grants the Board of the Authority
the power to appoint such other officers and employees as it may deem necessary;
and
WHEREAS, the effective and efficient execution of the financial affairs of the
Authority requires that certain other City Finance Department employees be
appointed and authorized as Finance Officers of the Authority to sign Authority
checks and various investment and commercial banking documents, to approve
electronic transfers of funds, and to provide verbal instructions (with follow up written
confirmation) in connection with the prudent administration and safekeeping of
Authority funds; and
WHEREAS, it is the Treasurer/Controller seeking the delegation of such
authority granted by Section 4.D of the Joint Powers Agreement to perform such
financial transactions, and to here present for the Board's approval a list of responsible
Finance Department employees to be designated as Finance Officers, and to provide
their exemplar signatures, and an exemplar signature of the Treasurer/Controller; and
WHEREAS, the Law states that persons or officers are required to file an official
bond in an amount fixed by the contracting parties, and Section D.5 of the Joint Powers
Agreement sets the official bond amount at $25,000.
NOW THEREFORE, IT IS RESOLVED by the Board of the Fresno Joint Powers
Financing Authority, as follows:
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1. The City Finance Department employees, all of whose names and
exemplar signatures are shown below, are designated as Finance Officers of the
Fresno Joint Powers Financing Authority, and the exemplar signature of the
Treasurer/Controller is set forth and acknowledged.
2. Upon, and subject to each Finance Officer having filed an official bond for
$25,000, as required by the Law and the Joint Powers Agreement, each Finance Officer
shall be authorized as provided in this Resolution.
3. The Treasurer/Controller, acting alone, is authorized to carry out the
obligations of the Treasurer/Controller duties set forth in the Law and in the Joint
Powers Agreement including, without limitation, signing checks with either his
handwritten or facsimile signature, to pay demands against the Authority when the
Authority has approved the demands, to sign various investment and banking
documents, to approve electronic transfers of funds, and to provide verbal instructions
(and confirmed in writing), when approved by the Authority and as necessary for the
prudent financial administration and safekeeping of Authority funds and property.
4. Any two of the other three Finance Officers designated herein, acting
together, are authorized to assist the Treasurer/Controller with carrying out the
obligations of the Treasurer/Controller set forth in the Law and in the Joint Powers
Agreement by signing checks,to paydemands against the Authority when the Authority
has approved the demands, to sign various investment and banking documents, to
approve electronic transfers offunds, and to provide verbal instructions (and confirmed
in writing), when approved by the Authority and as necessary for the prudent financial
administration and safekeeping of Authority funds and property.
5. The following specimen signatures shall be officially recognized until this
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authority is rescinded by a subsequent Resolution of the Council.
Ruth F. into, ePA, Assistant City Manager
- 5Q��
i, Finance Director/City Controller
(ex-officio)Treasurer
voq�e Dedmore, Assistant Finance Director/City Controller
Mang Thao, �)wlnodlive Manager
Roberta Copa, Princi al Accountant
Not Available
Corrina Barbarite, Treasury Officer
"—
Geor I
nne A. White, City Manager
6. Any prior resolutions appointing Finance Officers, setting forth exemplar
signatures, and authorizing officers as set forth herein are hereby rescinded.
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SECRETARY'S CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF FRESNO ) ss.
CITY OF FRESNO )
I, TODD STERMER, Secretary of the Fresno Joint Powers Financing Authority (the
"Authority") certify that the foregoing resolution was adopted by the Board of the
Authority at a regular meeting held on the December 1 , 2022.
AYES : Dyer, Karbassi, Bredefeld
NOES None
ABSENT None
ABSTAIN None
TODD STERMER, CMC
City CIe
By:
Date
Deputy
APPROVED AS TO FORM.
RINA M. GONZA4ES
Interim orn
By: /2 g zz
qam don M. Collet Date
Supervising Deputy City Attorney
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RESOLUTION NO. 2022-283
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A RESOLUTION OF THE COUNCIL OF THE CITY OF
FRESNO, CALIFORNIA, CONSENTING TO AND
AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL
AGENCY INVESTMENT FUND IN THE CUSTODY OF THE
STATE TREASURER FOR PURPOSES OF INVESTMENT,
AND AUTHORIZING CERTAIN FINANCE OFFICERS IN
CONNECTION THEREWITH
WHEREAS, the City of Fresno (the City) is a chartered city duly organized and
existing under and pursuant to the provisions of the Constitution of the State of California
and the Charter of the City; and
WHEREAS, Charter Section 804 establishes the position of Controller to be
appointed by the Chief Administrative Officer with the approval of the Council, to have the
authority and responsibility for the administration of the financial affairs of the City; and
WHEREAS, by California Government Code Section 16429.1 (State Law), the State
legislature created a fund, which the State Treasurer holds in trust, and which is known as
the Local Agency Investment Fund (The LAIF); and
WHEREAS, a local governmental official, with the consent of the governing body of
that agency, having surplus funds in its treasury not required for immediate needs, may
remit those funds to the State Treasurer for deposit in the LAIF for the purpose of
investment; and
WHEREAS, the Investment Policy of the City authorizes the Controller/Finance
Director/(ex-officio) Treasurer to invest funds in the LAIF; and
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Date Adopted: 12/01/2022
Date Approved: 12/01/2022 Resolution No. 2022-283
Effective Date: 12/01/2022
WHEREAS, designating and authorizing certain Finance Officers to execute ,
transactions with the LAIF includingdeposits and withdrawals, all in accordance with and ,
as permitted under State law, for investment purposes; and
WHEREAS, it is the intention of the Controller/Finance Director/(ex- officio)
Treasurer to delegate the authority granted by Charter Section 804 to perform the
aforementioned financial and investment transactions and to provide for Council's approval
a list of responsible Finance Department employees, along with their exemplar signatures,
to be designated as Finance Officers, for the stated purposes;
NOW THEREFORE, IT IS RESOLVED by the Council of the City of Fresno, as
follows:
1. The deposit into and withdrawal of City monies from LAIF in accordance with
State law is in the best interests of the City.
2. Council authorizes and consents to the deposit into and withdrawal of City
monies from LAIF in accordance with State law.
3. The Controller/Finance Director/(ex-officio)Treasurer for the City of Fresno,
the Finance Department employees, and their successors in office, all of whose positions,
names, and signatures are shown below, are designated as Finance Officers of the City of
Fresno for purposes of completing transactions with LAIF.
4. The following five specimen signatures shall be officially recognized until
this authority is rescinded by a subs u nt Resolution of the Council.
Rut F. A, Assistant City Manager
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Sx mo ❑ ' ' finance Director/City Controller
�r -
(ex officio)Treasurer
wu-
Yvon? Dedmore, Assistant Finance Director/City Controller
G
Mang Thao, wlnis#oive Manager
V�� 041m,
Roberta Copa, Principal Accountant
Not Available
Corrina Barbarite, Treasury Officer
George a A. White, City Manager
5. All prior Resolutions pertaining to the authorization of Finance Officers are
hereby rescinded.
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r ocz 1'
STATE OFCALIFORNIA )
COUNTY OF FRESNO )ss
CITY OF FRESNO )
I, TODD STERMER, City Clerk of the City of Fresno, certify that the foregoing
Resolution was adopted by the Council of the City of Fresno, California, at a regular
meeting thereof, held on the 1 st day of December 2022.
AYES Soria, Karbassi, Maxwell, Chavez, Bredefeld, Esparza
NOES None
ABSENT Arias
ABSTAIN None
TODD STERMER, CMC
City Clerk F
By:
Deputy Date
APPROVED AS TO FORM:
RINA M. GONZALES
Interim ney
By: jZ zT
brand6h allet Date
Supervising Deputy City Attorney
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