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xN <br />City of San Leandro <br />Meeting Date: February 6, 2012 <br />Staff Report <br />File Number: 12 -046 <br />TO: City Council <br />FROM: Chris Zapata <br />City Manager <br />BY: James O'Leary <br />Interim Finance Director <br />Agenda Section: CONSENT CALENDAR <br />Agenda Number: 8.H. <br />FINANCE REVIEW: James O'Leary <br />Interim Finance Director <br />TITLE: Staff Report for Resolutions Updating the Designation of Persons Authorized <br />to Make Financial Transactions and Investments of Funds <br />N*is]Jihyil;10IIL ,II[a]0R <br />It is recommended the following four resolutions be approved to: <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 Successor Agency of the Redevelopment Agency of the City of San Leandro <br />officials to remit monies into the State Treasury for deposit and withdrawal in the Local <br />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 City Manager Chris Zapata, it is necessary to update the authority for <br />depositing funds into certain depositories and to conduct deposit or withdrawal transactions <br />with the City and Agency's LAIF accounts. <br />Chris Zapata will be added and Jacquelyn Diaz will be removed as authorities for deposit and <br />withdrawal transaction activity with the City's LAIF accounts for the Economic Development <br />Agency and the Successor Agency of 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 <br />of one designated person in the City Manager's Office (Chris Zapata) and one designated <br />person in the Finance Department (Carlota Rodriguez). Lianne Marshall from the City <br />Manager's Office and James H. O'Leary from the Finance Department will serve as backup <br />alternates. These individuals will be authorized to initiate fund transfers by telephone or wire <br />instruction for the conduct of City business and with the State of California. <br />City of San Leandro Page 1 Printed on 113112012 <br />