HomeMy WebLinkAboutResolution - - JPFA-45 - 12/6/2018RESOLUTION NO. JPFA-45
A RESOLUTION OF THE 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 TREATURY
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 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,
Date Adopted: 12/06/2018
Date Approved: 12/06/2018 Resolution No: JPFA-45
Effective Date: 12/06/2018
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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 setsthe official bond amount at $25,000;
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.
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3. The following specimen signatures shall be officially recognized until
this authority is rescinded by a subsequ t Re olution of the Council.
IV1 ael Lima, Finance-IDirector/Controller
(ex -officio )Treasurer
Mavet Mora, Assistant Finance
Director/Controller
Yvonr a Dedmore, Administrative Manager
Roberta Cope, Principal Accountant
— &"�� 13 OJO'�L
Corrina Barbarite, Treasury Officer
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 )
CITY OF FRESNO )
I, YVONNE SPENCE, 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 6th day of December _'2018.
AYES-
Boardmember Caprioglio, Boardmember Soria
NOES:
None
ABSENT:
Mayor Brand
ABSTAIN-
None
APPROVED AS TO FORM:
CITY AT -TORN EY'S OFFICE
13y 1.1'11
Raj Sin esha, Deputy
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YVONNE SPENCE, MMC
City Clerk
By
Deputy
City of
Yvonne Spence, MMC
City Clerk
January 7, 2019
TO: File
FROM: Yvonne Spence, MMC
City Clerk �Ir
SUBJECT: Technical Corrections to Resolution Numbers 2018-284 and 2018-286
During the council meeting of December 6, 2018, Item(s) 1-H and 1-J were shown as
approved on consent. However it has come to our attention that the above items should
have been taken separately by the Fresno Joint Powers Finance Authority (JPFA)
Board consisting of Mayor Brand, Council President Soria, Councilmember Caprioglio.
The above resolution numbers will not be used and the correct resolution numbers for
the above items are JPFA-44 for Resolution 2018-284 and JPFA-45 for Resolution
2018-286. Both items were approved on a vote of 2-0 with Mayor Brand absent.
The minutes have also been corrected to show the above changes.
City Hall - 2600 Fresno Street • Fresno, California 93721 • (559) 621-7650 • FAX (559) 457-1106