City Council

7.d.\nCONSIDERATION AND ADOPTION OF RESOLUTION NO 26-002,\nAUTHORIZING CITY OF SOUTH EL MONTE OFFICERS HOLDING\nSPECIFIED TITLES, OR THEIR SUCCESSOR IN OFFICE, TO INVEST\nIN LOCAL AGENCY INVESTMENT FUND (LAIF)\nThe Local Agency Investment Fund (LAIF) is established in the State\nTreasury under Government Code section 16429.1 et. seq. for the deposit\nof money of a local agency for purposes of investment by the State\nTreasurer. The City invests in LAIF in accordance with the City’s\nInvestment Policy and State Law. With the change in management and\nstaff, it is necessary to update the list of employees and titles authorized to\ninvest in LAIF.\nRECOMMENDED ACTION: Staff recommends that the City Council adopt\nResolution No. 26-002, authorizing City of South El Monte officers holding\nspecified titles, or their successors in office, to invest in LAIF.\nConsent Calendar Items 7.e. and 7.f. next page.