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CITY OF SAN LEANDRO/REDEVELOPMENT <br />AGENCY/ECONOMIC DEVELOPMENT AGENCY <br />OF THE CITY OF SAN LEANDRO <br />STAFF REPORT <br />DATE: <br />TO: <br />FROM: <br />BY: <br />August 22, 2008 <br />John Jermanis, Executive Director <br />Perry H. Carter, Interim Treasurer' ~ <br />Carla Rodriguez, Deputy Treasurer <br />APPROVED AND <br />FORWARDED <br />TO CITY <br />COUNCILlREDEVELOPMENT <br />AGENCY/ECONOMIC <br />DEVELOPMENT AGENCY <br />~. <br />John J~rmanis <br />City nagerlExecutive Director <br />SUBJECT: MATTER OF RESOLUTIONS UPDATING THE DESIGNATION OF PERSONS <br />AUTHORIZED TO MAKE FINANCIAL TRANSACTIONS AND <br />INVESTMENTS 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 (LAIF); <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 (LAIF); 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 (LAIF); <br />BACKGROUND <br />With the appointment of Interim City Manager Stephen L. Hollister and Interim Assistant City <br />Manager Jacquelyn L. Diaz, it is necessary to update the authority for depositing funds into certain <br />depositories and to conduct deposit or withdrawal transactions with the City and Agency's LAIF' <br />accounts. <br />Stephen L. Hollister will replace John J. Jermanis as the primary authority for deposit and <br />withdrawal transaction activity with the City's LAIF accounts for the Economic Development <br />Agency and the Redevelopment Agency of the City of 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 (Stephen L. Hollister) and one designated <br />person in the Finance Department (Perry H. Carter). Jacquelyn L. Diaz from the City Manager's <br />Office and Carlota Rodriguez from the Finance Department will serve as backup alternates. These <br />individuals will be authorized to initiate fund transfers by telephone or wire instruction for the <br />