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RESOLUTION NO. 7675 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS <br /> DELEGATING INVESTMENT AUTHORITY TO THE CITY TREASURER <br /> PURSUANT TO GOVERNMENT CODE SECTION 53607 <br /> WHEREAS., Government Code section 53607 authorizes the City Council to delegate the <br /> duties of investing or reinvesting funds of the City, or to sell or exchange securities so purchased, to <br /> the City Treasurer for a period not exceeding one year; and <br /> WHEREAS, it is the desire of the City Council to delegate investment authority of City funds <br /> to the city Treasurer; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> REDLANDS AS FOLLOWS: <br /> Section 1. That the City Treasurer is hereby delegated the authority to invest, or reirivest <br /> -funds of the City, or to sell or exchange securities so purchased, for the period commencing on <br /> October 5, 2016, through October 4, 2017, pursuant to Government Code Section 53607. <br /> Section 2. That the City Treasurer shall prepare a monthly report to the City Council of all. <br /> transactions subject to this Resolution, as required by Government Code Section 53607. <br /> ADOPTED, SIGNED AND APPROVED this 4th day of October, 2016. <br /> dul Vv. Foster, Mayor <br /> ATTEST: <br /> Si6ii lm4K, CAy Clerk <br /> 1:\ccJerk\ResoW6ons\Res 7600-7699\7675 annual delegation City Treasurer 1,00416.doc <br />