1968-241RESOLUTION NO. 68R- 241
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AJAHEI AUTHORIZING THE PURCHASE,
FROM TIP''E TO TId' i OF SHORT TERI SECURITIES
PERIIITTE) BY LA;;, OR THE DEPOSIT IN INTEREST
BEARING ACCOUNTS IN BANKS IN THE CITY OF
ANAHEIM OF IDLE CITY FUNDS; AND PESCI 3 DING
RESOLUTION NO. 6179.
WHEREAS, the City Council believes that public funds
should, so far as is reasonably possible, be invested in bonds
or securities, or deposited in savings accounts in banks in
the City of Anaheim, to produce revenue for the City rather
than to remain idle; and
WHEREAS, from time to time there are City funds from
the various accounts which for varying; periods of time will not
be required for use by the City and which will, therefore, be
available for the purchase of short term securities, or for
deposit in interest bearing accounts in banks in the City; and
WHEREAS, it is impractical for the City Council to take
action authorizing the investment of such funds in securities
which are permissible investments under Section 53601 of the
Government Code when funds are available and not needed for vary-
ing periods of tire, and the City Council does find and determine
that the City Treasurer should be authorized to invest such funds
in such securities in accordance with Section 53607 of the Govern-
ment Code.
NO W, THEREFORE, EL IT RESOLVED by the City Council that
the City Treasurer of the City of Anaheim, with the advice and
approval of the Director of Finance of the City, be, and is
hereby authorized to purchase short term securities which are
Permissible investments under Section 53601 of the Government
Code, or to deposit in interest bearing banks, located in the
City of Anaheim, City funds from any of the various accounts of
the City when such funds will not be needed for varying periods
of time, and to purchase such securities when they can be
purchased at a price that will be beneficial to the City of
Anaheim.
AND BE IT FURTHER RESOLV }}Ji) that effective immediately
and continuing until written notice of revocation by the City
Council of the authority granted:
Any bank in the City of Anaheim in which the City
maintains deposits is hereby authorized and instructed
to charge the funds of the City of Anaheim on deposit
the full amount of the purchase price of any such
securities which the City Treasurer, with the approval
of the Director of Finance of said City, may authorize
and direct. The order for any such purchases may be
made by telephone but shall be promptly thereafter
confirmed in writing, filed with such bank, signed
by such City Treasurer with the written approval of
the Director of Finance endorsed thereon. A copy
of such written order so approved shall be filed
with the Director of Finance of the City of Anaheim.
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AND BE IT FURTHER RESOLVED that this resolution super-
sedes Resolution No. 6179 which is hereby rescinded.
THE FOREGOING RESOLUTION is approved and signed by me
this 7th day of May 1968.
ATTEST:
CIT CLERK OF THE CITY OF A N A H E I M
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM.
(SEAL)
AYES:
NOES:
ABSENT:
I, DENE
do hereby certify
tion No. 68R- 241
Council on May 7,
MAY OT OF THE C TY OF A AH
I, DENE M. WILLIAMS, City Clerk of the City of Anaheim,
do hereby certify that the foregoing resolution was passed and
adopted at a regular meeting of the City Council held on the 7th
day of May 1968, by the following vote of the members
thereof:
COUNCIL1 ;N Dutton, Krein, Schutte, Clark and Pebley
COUNCIL NE N None
COUNCILii4E None
AND I FURTHER CERTIFY that the Mayor of the City of
Anaheim approved and signed said resolution on the 7th day of
May 1968.
IN WITNESS WHEREOF, I have hereunto set my nand and
affixed the seal of the City of Anaheim this 7th day of
May 1963.
CI'Y CLERK THE CITY OF ANA EI
M. WILLIAMS, City Clerk of the City of Anaheim,
that the foregoing is the original of Resolu-
duly passed and adopted by the Anaheim City
1968 1968.