AHA-2012-004 RESOLUTION NO. AHA 2012 - 004
A RESOLUTION OF THE GOVERNING BOARD OF THE
ANAHEIM HOUSING AUTHORITY AUTHORIZING
INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, the Anaheim Housing Authority ( "Housing Authority ") is a public
body, corporate and politic, organized and existing under the Housing Authorities Law
(commencing at Section 34200 of the California Health and Safety Code; herein the
"Housing Authorities Law "), and authorized to transact business and exercise the powers
of a housing authority in the territorial jurisdiction of the City of Anaheim ( "City ")
pursuant to action of the City Council ( "City Council ") of the City; and
WHEREAS, prior to February 1, 2012, the Anaheim Redevelopment Agency
( "Agency ") was a community redevelopment agency duly organized and existing under the
California Community Redevelopment Law (Health and Safety Code Sections 33000 et
seq.) and was authorized to transact business and exercise the powers of a redevelopment
agency pursuant to action of the City Council of the City; and
WHEREAS, Assembly Bill X1 26, which was passed by the California State
Legislature, approved by the Governor on June 28, 2011, and chaptered by the Secretary of
State on June 29, 2011, added Parts 1.8 and 1.85 to Division 24 of the California Health &
Safety Code, which laws caused the dissolution and wind down of all redevelopment
agencies ( "Dissolution Act "); and
WHEREAS, by the adoption of its Resolution No. 2012 -001 on January 10, 2012
and pursuant to Section 34173 of the California Health and Safety Code, the City Council
of the City of Anaheim ( "City Council ") elected to have the City of Anaheim serve as the
"successor agency" to the Anaheim Redevelopment Agency ( "Agency ") under Part 1.85 of
the California Health and Safety Code effective upon dissolution of the Agency for the
purpose of administering the enforceable obligations of the Agency and to otherwise wind
up the affairs of the Agency; and
WHEREAS, by Resolution No. 2012 -008, considered and approved at an open and
public meeting on January 24, 2012, the City Council elected not to have the City retain
the responsibility for performing housing functions previously performed by the Agency
following dissolution of the Agency and, instead, allowed the Housing Authority to make
the election authorized under the Dissolution Act to retain the housing assets and functions
previously performed by the Agency; and
WHEREAS, by Resolution No. AHA- 2012 -001, considered and approved at an
open public meeting on January 24, 2012, the governing board of the Housing Authority
elected to have the Housing Authority assume the housing assets and housing functions
previously held and performed by the dissolved Agency effective upon dissolution of the
Agency pursuant to the Dissolution Act; and
WHEREAS, as of, on and after February 1, 2012, the Agency became a dissolved
community redevelopment agency pursuant to the Dissolution Act; and
WHEREAS, as part of the Fiscal Year 2012 -13 state budget package, on June 27,
2012, the State Legislature passed and the Governor signed Assembly Bill 1484, the
primary purpose of which was to make technical and substantive amendments to the
Dissolution Act, which included significant modifications and clarification to the treatment
of housing assets under the Dissolution Act; and
WHEREAS, pursuant to Section 16429.1 of the California Government Code, the
State Legislature created the 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 governing board of the Housing Authority 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 California Government Code for the purpose
of investment as stated therein is in the best interest of the Housing Authority.
NOW, THEREFORE, THE GOVERNING BOARD OF THE HOUSING
AUTHORITY OF THE CITY OF ANAHEIM DOES RESOLVE AS FOLLOWS:
Section 1. The foregoing recitals are incorporated into this Resolution by this
reference and constitute a material part of this Resolution.
Section 2. The Housing Authority does hereby authorize the deposit and
withdrawal of money in its treasury for and on behalf of the "Anaheim Housing Authority,
a public body, corporate and politic ", which money is not required for immediate needs,
with the Local Agency Investment Fund in the State Treasury in accordance with the
provisions of Section 16429.1 of the California 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.
Section 3. the City Treasurer, the Principal Accountant in the Office of the City
Treasurer, and the Executive Director of Housing Authority are authorized, jointly and
severally, to order the deposit or withdrawal of monies in the Local Agency Investment
Fund for and on behalf of the "Anaheim Housing Authority, a public body, corporate and
politic ", and to do any and all things necessary or advisable in order to effectuate the
purposes of this Resolution.
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND
ADOPTED BY THE GOVERNING BOARD OF THE ANAHEIM HOUSING
AUTHORITY THIS 11th DAY OF Septsr , 2012, BY THE
FOLLOWING ROLL CALL VOTE:
AYES: Chairman Tait, Authority Members Sidhu, Galloway, Eastman, Murray
NOES: None
ABSTAIN: None
ABSENT: None
ANAHEI OUSING AUTHORITY
CHA N
ATTEST
SECRETARY OF THE ANAHEIM HOUSING
AUTHORITY
91430