HomeMy WebLinkAboutResolution - - JPFA-57 - 1/19/2023 OF f!v
RESOLUTION NO. JPFA-57 O ucl
A RESOLUTION OFTHE BOARD OFTHE FRESNO JOINT
POWERS FINANCING AUTHORITY, DESIGNATING AND
AUTHORIZING CERTAIN FINANCE OFFICERS OF THE
CITY OF FRESNO TO DEPOSIT AND WITHDRAW
FUNDS INTO AND OUT OF THE LOCAL AGENCY
INVESTMENT FUND (LAIF) IN THE STATE TREASURY
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 6505.1 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 Treasurer and Controller of the Authority, (hereafter the Treasurer/Controller'),
with the powers, duties, and responsibilities specified in Section 6505.5 of the Law,and
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Date Adopted: 01/19/2023
Date Approved: 01/19/2023
Effective Date: 01/19/2023 Resolution No. JPFA-57 _
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the 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, 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 (LAIF); and
WHEREAS, a local government official, with the consent of the governing body of
that agency having money in its treasury not required for immediate needs, may remit the
money to the State Treasurer for deposit in the LAIF for the purpose of investment; and,
WHEREAS, in order to facilitate LAIF transactions, the Treasurer/Controller must
designate and authorize certain Finance Officers to execute transactions with the LAIF,
including deposits and withdrawals, all in accordance with and as permitted under State
law, for investment purposes; 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 with LAIF, and to here present for the Board's approval a list of responsible
Finance Department employees to be authorized to execute financial transactions with
LAIF, and to provide their exemplar signatures, and an exemplar signature of the
Treasurer/Controller; and
WHEREAS, the Lawstates that persons orofficers are required to file an official
bond in an amount fixed by the contracting parties, and Section D.5 of the Joint Powers
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a�x FRC.
Agreement setsthe official bond amount at $25,000.
NOW THEREFORE, IT IS RESOLVED bythe Board of the Fresno Joint Powers
Financing Authority, as follows:
1. The City Finance Department employees, and their successors in office,
all of whose positions, names, and exemplar signatures are shown below, are
designated as Finance Officers of the Fresno Joint Powers Financing Authority,
authorized to execute financial transactions with LAIF, acting alone as approved by
the Treasurer/Controller, 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 bythe Lawand the Joint Powers Agreement, each Finance Officer
shall be authorized as provided in this Resolution and approved by the Authority and
as necessary for the prudent financial administration and safekeeping of Authority
funds and property.
3. The following specimen signatures shall be officially recognized until this
authority is rescinded by a subsequent Resolution of the Council.
Ruth R Quinto, A, Assistant City Manager/Interim
Finance Director/Controller(ex-officio)Treasurer
San o-Daai in-a-nN—e-g'i-rector/City Controller
(ex-o icio)Treasurer
Ifa b eufeld, Assistant Finance Director/City Controller
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A'�rEL OGS
Mang Thao, Ad
`rfe.Manager
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Roberta Cope, Principal Accountant
Corrina Barbarite, Treasury Officer
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Gea g anne A. White, City Manager
4. Any prior resolutions appointing Finance Officers, setting forth exemplar
signatures, and authorizing officers as set forth herein are hereby rescinded.
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STATE OF CALIFORNIA )
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 Board of Directors of the Joint Powers Financing
Authority, of the City of Fresno and the Fresno Redevelopment Agency (now the City
of Fresno as Successor to the Fresno Redevelopment Agency), California, at a regular
meeting thereof, held on the 19th day of January . 2023
AYES Bredefeld, Karbassi
NOES None
ABSENT Dyer
ABSTAIN None
TODD STERMER, CMC
City Clerk
By:
Deputy v Date
APPROVED AS TO FORM:
ANDREW JAN
City A/7S '
By: I,�?IJ/23
ndon M. Collet Date
Supervising Deputy City Attorney
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