Resolution Number 73-5-14-1T"1 FS
RESOLUTION NO. 73-5-14-1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SAN JUAN CAPISTRANO DELEGATING AUTHORITY
TO INVEST OR REINVEST FUNDS OF THE CI:T TO
THE CITY TREASURER.
WHEREAS, Article 1, Chapter 4, Division 2, Title 5 of the
Government Code authorizes the City Council to invest and reinvest
surplus funds in certain designated securities; and
WHEREAS, Section 53607 of said Code further permits the City
Council to delegate such authority to its Treasurer; and
WHEREAS, this City Council deems it to be in the best interests
of the City of San Juan Capistrano for such investments to be conducted
by the City Treasurer,
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of San Juan Capistrano have hereby delegated the authority
granted to it by the aforesaid Article 1, Chapter 4, Division 2, Title
5 of the Government Code to the City Treasurer, Charles Neal.
BE IT FURTHER RESOLVED that this authority shall continue until
such time as it shall be revoked by this City Council.
BE IT FURTHER RESOLVED that the City Treasurer be and is hereby
directed to abide by all of the obligations and responsibilities
imposed upon him by the aforesaid statutes.
PASSED, APPROVED AND ADOPTED this 14th day of May, 1973, by the
following vote, to wit:
ATTEST:
AYES: COUNCILMEN: BYRNES, CHERMAK, GAMMELL, THORPE, WEATHERS
NOES: COUNCILMEN: NONE
ABSENT: COUNCILMEN: NONE
City Clerk