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RESOLUTION NO 492 <br />A RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER <br />REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS DELEGATING <br />INVESTMENT AUTHORITY TO THE CITY TREASURER, PURSUANT TO <br />GOVERNMENT CODE SECTION 53607 <br />WHEREAS, Government Code Section 53607 authorizes the legislative body of a local <br />agency to delegate the duties of investing or reinvesting funds of the agency, or to sell or exchange <br />securities so purchased, to the Treasurer of such agency for a period not exceeding one year, and <br />WHEREAS, it is the desire of the Board of the Successor Agency to the former <br />Redevelopment Agency of the City of Redlands, to delegate investment authority of successor <br />agency funds to the Successor Agency's Treasurer, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE SUCCESSOR <br />AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS AS <br />FOLLOWS <br />Section 1 That the Treasurer of the City of Redlands is hereby delegated the authority to <br />invest, or reinvest funds of the Successor Agency, or to sell or exchange securities so purchased, for <br />the period commencing on March 2, 2022 through February 28, 2023, pursuant to Government Code <br />Section 53607 <br />Section 2 That the Treasurer shall prepare a monthly report to the Board of the <br />Successor Agency of all transactions subject to this Resolution, as required by Government Code <br />Section 53607 <br />ADOPTED, SIGNED AND APPROVED this 1st d022 <br />ATTEST. <br />/00,„0.44__ <br />e Donaldson, Secretary <br />1 <br />L \ca\Reso\492 Delegating Investment Authority to Treasurer.RDA.doc <br />Paul T Barich, Chairman <br />