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APPROVED AND <br /> CITY OF SAN LEANDRO /REDEVELOPMENT FORWARDED <br /> AGENCY /ECONOMIC DEVELOPMENT AGENCY CO CITY <br /> COUNCIL/REDEVELOPMEN "f <br /> OF THE CITY OF SAN LEANDRO AGENCY/ECONOMIC <br /> STAFF REPORT DEVELOPMENT AGENCY <br /> DATE: October 18, 2010 ` I/G <br /> tephen L. Hollister <br /> TO: Stephen L. Hollister, Executive Director City Manager /Executive Director <br /> FROM: Lianne Marshall, Assistant City Manager 4_' <br /> BY: Carla Rodriguez, Deputy Finance 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 Tracy Vesely, Finance Director, it is necessary to update the authority for <br /> depositing funds into certain depositories and to conduct deposit or withdrawal transactions with <br /> the City and Agency's LAIF accounts. <br /> Tracy Vesely will replace Perry Carter as authority for deposit and withdrawal transaction activity <br /> with the City's LAIF accounts for the Economic Development Agency and the Redevelopment <br /> 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 (Tracy Vesely). Assistant City Manager Lianne Marshall and <br /> Deputy Finance Director Carlota Rodriguez will serve as backup alternates. These individuals will <br /> be authorized to initiate fund transfers by telephone or wire instruction for the conduct of City <br /> business and with the State of California. <br />