HomeMy WebLinkAboutResolution - - JPFA-59 - 4/18/2024 dF FRFs
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RESOLUTION NO.JPFA-59
A RESOLUTION OFTHE BOARD OF THE 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
October25, 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"Lave' 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 the
Treasurer/Controller is authorized to draw checks to pay demands against the Authority
when the demands have been approved by the Authority; and
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Date Adapted: 04/18/2024
Date Approved: 04/18/2024 Resolution No. JPFA-59
Effective Date: 04/18/2024
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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 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.
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NOW THEREFORE, IT IS RESOLVED by the 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 by the Law and 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 .-6uintcr�, CPIA, Assistant City Manager
Santino nisi, Fin hector/City Controller
(ex-❑ icio) Treasurer
leb Neufeld, Assistant Finance Director/City Controller
Mang T ao, Ad i i tr a Manager
fjit Kaur, Di Esion Manager
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Phillip rdcast`le rin 'pal Accountant
Georg 4ene 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.
5. This resolution shall be effective upon final approval.
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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 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 18ti7 day of April , 2024.
AYES Bredefeld, Karbassi, Dyer
NOES : None
ABSENT None
ABSTAIN None
TODD STERMER, CMC
City Cler
By: 1 �
Deputy
APPROVED AS TO FORM:
ANDREW JANZ
City rn
By:
randon M. Collet 'Date
Assistant City Attorney
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