HomeMy WebLinkAbout2023-045 - Authorizing Investment of Monies in the CA Class Prime FundRESOLUTION NO. 2023-045
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA AUTHORIZING INVESTMENT
OF MONIES IN THE CALIFORNIA CLASS PRIME
FUND
WHEREAS, The California CLASS Prime Fund (Prime Fund) is an
established Joint Powers Authority Pool authorized under Government Code
section 53601(p) for the benefit of all public agencies in the State of California that
have the authority to invest their treasury funds to preserve principal, provide daily
liquidity, earn a competitive rate of return, and maintain a stable Net Asset Value;
and
WHEREAS, the City Council of the City of Santa Ana hereby finds that the
deposit and withdrawal of money in the Prime Fund in accordance with
Government Code section 53601(p) for the purpose of investment as provided
therein expands diversification of the City's investments and offers the opportunity
to optimize interest earnings, while not sacrificing the liquidity of funds, a benefit to
the City of Santa Ana.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SANTA ANA AS FOLLOWS:
Section 1. The recitals set forth above are true and correct and adopted as
findings in support of this Resolution.
Section 2. The City Council does hereby authorize the deposit and
withdrawal of City of Santa Ana monies in the California CLASS Prime Fund in
accordance with the provisions of Government Code section 53601(p) for the
purpose of investment as stated therein.
Section 3. The following City of Santa Ana officers holding the title(s)
specified or their successors in office shall be authorized to order the deposit or
withdrawal of monies in the California CLASS Prime Fund and may execute and
deliver any and all documents necessary or advisable in order to effectuate the
purposes of this Resolution and the transaction contemplated hereby: Executive
Director of Finance and Management Services Agency, City Treasurer, Assistant
Director of Finance and Management Services Agency, Treasury and Customer
Services Manager, or Financial Analyst.
Section 4. This Resolution shall take effect immediately upon its adoption
by the City Council, and the City Clerk shall attest to and certify the vote adopting
this Resolution.
ADOPTED this 18'^ day of July, 2023.
Resolution No. 2023-045
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APPROVED AS TO FORM:
Sonia Carvalho, City Attorney
By:
Jonathan T. Marti0
Assistant City A ey
AYES: Councilmembers
NOES: Councilmembers
ABSTAIN: Councilmembers
Amezcua Bacerra Hernandez, Lopez,
Penaloza Phan Vazquez (7)
None (0)
None (0)
NOT PRESENT: Councilmembers None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, JENNIFER L. HALL, City Clerk, do hereby attest to and certify the attached
Resolution No. 2023-045 to be the original resolution adopted by the City Council
of the City of Santa Ana on July 18, 2023.
Date:3
J nnifer L. H I
r
City of Santa Ana
Resolution No.2023-045
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