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CITY COUNCIL/REDVELOPEMNT <br />AGENCY/ECONOMIC DEVELOPMENT AGENCY <br />OF SAN LEANDRO <br />STAFF REPORT <br />DATE: April 10, 2008 <br />TO: John J. Jermanis, City Manager <br />FROM: Perry H. Carter, Interim Finance Director <br />Finance Department <br />SUBJECT PROJECT/PROJECT DESCRIPTION: <br />APPROVED AND <br />FORWARDED TO CITY <br />COUNCIL/REDEV ELOPMENT <br />AGENCYBCONOMIC <br />DEVELOPMENT AGENCY <br />Jo . Jermanis <br />Ci anagerBxecutive Director <br />MATTER OF RESOLUTIONS UPDATING THE DESIGNATION OF PERSONS <br />AUTHORIZED TO MAKE FINANCIAL TRANSACTIONS AND INVESTMENT OF FUNDS <br />SUMMARY AND RECOMMENDATION <br />It is recommended the following four resolutions to be approved: <br />1) Designate certain depositories and authorize City officials to remit money in the City <br />treasury to the State Treasury for deposit in the Local Agency Investment Fund (LATE); <br />2) Designate signatures on City checks and authorize persons to make fund transfers by <br />telephone or wire; <br />3) Authorize Redevelopment Agency (RDA) officials to remit RDA monies into the State <br />Treasury for deposit and withdrawal in the Local Agency Investment Fund (LATE); and <br />4) Authorize Economic Development Agency (EDA) officials to remit EDA monies into the <br />State Treasury for deposit and withdrawal in the Local Agency Investment Fund (LATE) <br />BACKGROUND <br />With the appointment of Interim Finance Director Perry H. Carter, it is necessary to update the <br />authority for depositing funds into certain depositories and to conduct deposit or withdrawal <br />transactions with the City and Agency's LAIF accounts. <br />Perry H. Carter will replace Carlota Rodriguez as the primary authority for deposit or withdrawal <br />transaction activity with the City's LAIF accounts for the Redevelopment Agency of the City of <br />San Leandro. <br />The San Leandro City Charter provides that all City checks be authenticated by the signatures of <br />one designated person in the City Manager's Office (John J. Jermanis) and one designated <br />person in the Finance Department (Perry H. Carter). Stephen Hollister from the City Manager's <br />Office and Carlota Rodriguez from the Finance Department will serve as backup alternates. <br />These individuals will be authorized to initiate fund transfers by telephone or wire instruction for <br />the conduct of City business and with the State of California. <br />