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City Council Regular
Diana Keros, Administrative Assistant II
APPOINTMENT OF CITY TREASURER
Adopt a resolution entitled: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHINO HILLS, APPOINTING CHRISTINA BUHAGIAR AS CITY TREASURER, AND AUTHORIZING THE INVESTMENT OF FUNDS IN THE STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND, LOS ANGELES COUNTY POOLED INVESTMENT FUND, AND US BANK, THE CUSTODIAL BANK FOR CHANDLER ASSET MANAGEMENT EFFECTIVE JUNE 13, 2017.
It is recommended that the City Council approve a resolution appointing Christina Buhagiar as City Treasurer.
The resolution also includes the appointment of staff members authorized to deposit to or withdraw from the City’s current investment pools (Local Agency Investment Fund, and the Los Angeles County Pooled Investment Fund) as well as US Bank for the custodial account managed by Chandler Asset Management and the authorization to invest. The City currently is authorized to invest in these pools and custodial account and the City Manager is currently authorized to implement investment transactions. The change being authorized by the resolution is the substitution of the Interim City Treasurer for the Finance Director as a person authorized to implement transactions.
The placement of the signatures in the resolution for the authorized persons is a requirement of the Local Agency Investment Fund.
ENVIRONMENTAL (CEQA) REVIEW:
This proposed action is exempt from review under the California Environmental Quality Act (California Public Resources Code §§ 21000, et seq.; “CEQA”) and CEQA regulations (14 California Code Regulations §§15000, et seq.) because it does not involve any commitment to a specific project which could result in a potentially significant physical impact on the environment; and constitutes an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. Accordingly, this action does not constitute a “project” that requires environmental review (see specifically 14 CCR § 15378(b)(4-5)).
There is no fiscal impact resulting from the approval of this resolution.
REVIEWED BY OTHERS:
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