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HomeMy WebLinkAbout15 Donner Lake Assessment Agenda Item # / MY TRUCKIIIIIII K EE D I N E DistrictPublic Utility Memorandum To: Board of Directors From: Mary Chapman, Administrative Services Manager Date: February 1, 2002 Subject: Authorizing Investment of Donner Lake Assessment District Monies in the Local Agency Investment Fund The current balance in the Donner Lake Assessment District 00-1 checking account is approximately $1,295,000.00. While this money is earning approximately 2% interest while it is on deposit at US Bank, we could earn an additional 1 to 2 % if we were to move the money to LAIF until we need to use it. In order to have a separate fund at LAIF, the Board will need to pass the attached resolution which authorizes opening a separate fund and authorizes certain officers to make deposits and withdrawals to and from the fund. RECOMMENDATION: 1. To approve the attached resolution entitled Authorizing Investment of Donner Lake Assessment District 00-1 Monies in the Local Agency Investment Fund which includes authorizing the Board President, Secretary or Treasurer to make the necessary deposits and withdrawals to and from the fund. 2. Authorize that all such deposits and withdrawals will be made either to or from the Donner Lake Assessment District 00-1 checking account held at US Bank. 3. Authorize that in the absence of the Secretary and the Treasurer, the Assistant General Manager may make such transfers. III �IIIII II IIIII TRUCKEE I, Public • Resolution No. 2002-_ Authorizing Investment of Donner Lake Assessment District 00-1 Monies in the Local Agency Investment Fund WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was added to the California Government Code to create a Local Agency Investment Fund in the State Treasury for the deposit of money of a local agency for purposes of investment by the State Treasurer; and WHEREAS, the Board of Directors does hereby find that the deposit and withdrawal of money in the Local Agency Investment fund in accordance with the provisions of Section 16429.1 of the Government Code for the purpose of investment as stated therein as in the best interest of the Truckee Donner Public Utility District. NOW THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby authorize the deposit and withdrawal of Truckee Donner Public Utility District — Donner Lake Assessment District 00-1 monies in the Local Agency Investment Fund in the State Treasury in accordance with the provisions of Section 16429.1 of the Government Code for the purpose of investment as stated therein, and verification by the State Treasurer's Office of all banking information provided in that regard. BE IT FURTHER RESOLVED, that the following Truckee Donner Public Utility District officers or their successors in office shall be authorized to order the deposit or withdrawal of monies in the Local Agency Investment Fund: Nelson Van Gundy Peter L. Holzmeister Mary Chapman President Secretary, District Clerk Treasurer PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District on the sixth day of February, 2002 by the following roll call vote: AYES: NOES: ABSENT: TRUCKEE DONNER PUBLIC UTILITY DISTRICT Nelson Van Gundy, President ATTEST: Peter L. Nolzmeister, District Clerk FEB-01-2002 10:21 CA STATE TREASURER/LAIF 916 654 9931 P.03 LOCAL AGENCYINVESTMENT FUN© AUTHORIZATION FOR TRANSFER OF FUNDS REGULAR ACCOUNT AUTHORIZED PERSONS AGENCY NAME:Truckee Donner Public Utility District Donner Lake Assessment District 00-1 DATE ADDRESS-.P. 0_ Box 309 Truckee CA 96160 PHONE/FAXNUMBER: 530-587-3896 Fax 530-587-5056 NAME TITLE SIGNATURE Nelson Van Gundy President Peter L. Holzmeister Secretary, District Clerk Mary Chapman Treasurer Stephen Hollabaugh Assistant General Manager LOCAL AGENCY INVESTMENT FUND AUTHORIZATION FOR TRANSFER OF FUNDS REGULAR ACCOUNT BANKING INFORMATION ACCOUNT&ABA NUMBER BANK NAME,BRANCH NUMBER (attach complete wiring CORRESPONDENT BANK ADDRESS &TELEPHONE NUMBER instructions if applicable) STO RECEIVING 8 US Bank Donner Lake Assessment Distric 10995 Donner Pass Road Account # 153490530695 Truckee CA 961A1 ABA #121122676 *Subject to verification by State Treasurer's Office X PLEASE MAIL COMPLETED CARD TO: Authorized Signature(Must be authorized on Resolution) STATE TREASURER'S OFFICE X LOCAL AGENCY INN'ESTMENT FUND Authorized Signature P.O.Box 942809 (Must be authorized on Resolution) SACRAMENTO, CA 94209-0001 - nrni o n�