HomeMy WebLinkAboutResolution No. 95-R149 0
RESOLUTION N0. 95-R14
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, CALIFORNIA,
ADOPTING THE AGENCY TREASURER'S STATEMENT OF CASH
BALANCES DETAILING DEPOSITORIES OF FUNDS AND SECURITIES
WHEREAS, the Redevelopment Agency of the City of Azusa is a Municipal Corporation that
was organized under the general laws of the State of California on December 29, 1898, and
WHEREAS, the Redevelopment Agency is a unit of the City of Azusa, and
WHEREAS, the Agency Treasurer, the Deputy Agency Treasurer and the Finance Director
of the City of Azusa are continually seeking ways in which to streamline the manner in which the
Agency transacts its financial business, and
WHEREAS, the attached Statement of Cash Balances details the Agency's depositories of
funds, and
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA, does hereby authorize the Treasurer or the Deputy
Treasurer of the Redevelopment Agency of the City of Azusa to enter into deposit account, cash
management and service agreement(s) with any of the banks detailed on the attached statement on
behalf of the Redevelopment Agency of the City of Azusa, and to designate from time to time who
may sign checks and otherwise give instructions regarding this Agency's corporate funds and
accounts.
BE IT FURTHER RESOLVED, that this authorization is in addition to any other
authorization(s) in effect and shall remain in force until the banks receive written notice of revocation
at the offices where the accounts are maintained or at any other address specified by the banks.
PASSED, APPROVED AND ADOPTED this 6th day of February, 1995.
'J'A - J. U
CHAI AN
•
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I HEREBY CERTIFY that the foregoing Resolution No. 95—R14 was duly adopted
by the Board of Directors of the Redevelopment Agency of the City of Azusa at a regular meeting
thereof, held on the 6th day of February, 1995 by the following vote of the Board:
AYES DIRECTORS: HARDISON, MADRID, NARANJO, BEEBE, ALEXANDER
NOES : DIRECTORS: NONE
ABSENT : DIRECTORS: NONE
2
CITY OF AZUSA
REDEVELOPMENT AGENCY
TREASURY BOOK BALANCES - BANK ACCOUNTS
JANUARY 1995
Bank Accounts Account No. Maximum Allowable Deposit Amount Pledged Securities
Well Fargo Bank
FDIC up to $100,000.00
Rehabilitation Checking
0606-027515 No limit
.Checking
0606-050318 No limit
Savings
6606-579993 No limit
Bank of America
Certificate of Deposit
Local Agency Investment Fund (LAIF)
L.A. County Pooled Investment Fund
TOTAL - CITY OF AZUSA BANK ACCOUNTS
Interest Collections
No limit
$20,000,000.00
No limit
Maturity Interest
$19,399.31
FDIC up to $100,000.00
Ongoing
1.000%
>5100,000 collaterized by 110% In govnl securities
527,451.08
FDIC up to $100,000.00
Ongoing
1.990%
-$100,000 conateraed by 110% in govn'tsecurbes
1,427,204.20
FDIC up to $100,000.00
Ongoing
None
>$I00,000 collaterized by 110% in govnl securities
200,000.00
FDIC up to $100,000.00
03/27/95
3.250%
>$I00,000 collaterized by 110% In govnl securities
4,245,659.72
Backed by faith 8 credit of the State of California
Ongoing
5.528%
1,565,472.69
Backed by faith 8 credit of the County of L.A.
Ongoing
5.460%
$7,989,187.00
$67,697.94
CITY OF AZUSA REDEVELOPMENT AGENCY
CITY TREASURER'S STATEMENT OF CASH BALANCES
JANUARY 1995
Beginning Cash Balance
(All Accounts & Investments)
Receipts (All Sources)
Disbursements
Net Change
Ending Cash Balance
(All Accounts and Investments)
$8,209,375.32
367,444.30
587,632.62
(220,188.32)
$7,989,187.00
6< Act���
Robert E. Talley, Agency Treasurer.
2/28/95 2:33 PM CRACASH.XLS