HomeMy WebLinkAbout2002-05-14 - AGENDA REPORTS - LOCAL AGENCY INVESTMENT FUND (2)CITY OF SANTA CLARITA
PUBLIC FINANCING AUTHORITY
AGENDA REPORT
CONSENT CALENDAR City Manager Approv1:
Item to be presented by: Barbara Bos ell
DATE: May 14, 2002
SUBJECT: AUTHORIZE THE SANTA CLARITA PUBLIC FINANCING
AUTHORITY TO INVEST MONIES IN THE LOCAL AGENCY
INVESTMENT FUND
DEPARTMENT: Administrative Services
RECOMMENDED ACTION
Adopt the Santa Clarita Public Financing Authority's Resolution, authorizing the investment
of monies in the Local Agency Investment Fund.
BACKGROUND
The Santa Clarita Public Financing Authority has obtained and received funding to finance the
costs of the acquisition, construction, installation and equipping of the City's employee parking
lot and certain capital improvements for use by the City from Zions First National Bank.
A timeline has been established which lists when the payments are due as certain milestones
are met. The Santa Clarita Public Financing Authority would like to invest these funds in an
interest-bearing account, until these monies and any other monies that become available to the
Public Financing Authority are needed.
Investment of these funds are in compliance with the City of Santa Clarita's Investment Policy.
ALTERNATIVE ACTIONS
Other actions as determined by the Public Financing Authority.
FISCAL IMPACT
None by this action.
ATTACHMENT
Resolution6'Z
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