HomeMy WebLinkAbout1987 057 CC RESO1987 057 CC RESO (Ìì ÷ & RESOLUTION NO. 87-57
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BA1DWIN PARK APPROVING AN AMENDMENT TO THE
INDEPENDENT CITIES RISK MANAGEMENT AUTHORITY
JOINT POWERS AGREEMENT TO PROVIDE FOR THE
ADMITTANCE TO MEMBERSHIP OF THE CITIES OF
COLTON AND M3NROVIA; APPROVING AND AUTHORIZING
VALIDATION PROCEEDINGS AND DESIGNATING CITY
REPRESENTATIVES
WHEREAS, the City of Baldwin Park City") is a municipality duly
organized and existing under the Constitution and the laws of the State of
California the State"); and
WHEREAS, Baldwin Park has joined with the Cities of Alhambra, Arcadia,
Azusa, Bell, Culver City, Downey, El Monte, Gardena, Glendora, Hawthorne,
Hermosa Beach, Huntington Park, Indio, Inglewood, Lynwood, Manhattan Beach,
Nbnterey Park, Redondo Beach, San Femando, South Gate, Vemon, West Covina, and
Whittier, California, to form the Independent Cities Risk Management Authority/-
and
WHEREAS, the Cities of Colton and MDnrovia, have applied for monber-
ship in the Independent Cities Risk Management Authority with their approval
to membership contingent upon approval by the existing member cities, their
ccmpliance with the provisions of the Independent Cities Risk Management
Authority Joint Powers Agreement and the conditions of admittance as determined
by the Independent Cities Risk Management Authority Board and the successful
completion of a validation action which will be filed with the court, a valida-
tion action similar to that which was processed through the court when the
Independent Cities Risk Management Authority ccmmenced its insurance program
in 1986; and
WHEREAS, this City Council is of the view that permitting additional
qualified members to membership in the Independent Cities Risk Management
Authority benefits this City and all of the member cities;
NCW, THEREFORE, be it resolved by the City Council of the City of
Baldwin Park as follows:
1. Approval of Amended Joint Pcwers Agregnent. This City approves
an amendment to the Independent Cities Risk Management Authority Joint Powers
Agreement to admit into membership the Cities of Colton and Monrovia, provided
that these new cities ccmply with all conditions of admittance as determined by
the Independent Cities Risk Management Authority Board.
2. Validation Proceedings. The Mayor, City Manager, Director of
Administrative Services, City Clerk and any other officer or official of the
City authorized by the Mayor are hereby authorized and directed to participate
and cooperate to the fullest extent practicable with the Independent Cities
Risk Management Authority, the other member cities and representatives of
Brown & Wood Special Counsel") which firm has heretofore been retained by
the Independent Cities Risk Management Authority as legal counsel with respect
to the amendments and validation proceedings and which retention is hereby
ratified by this Council, in the conduct of validation proceedings regarding
the amendments to the Liability Risk Coverage Agreement and the First Amendment
to Trust Agreanent and to do any and all things and to execute and deliver
any documents which such officers and staff may deem necessary or advisable
in connection therewith.
3. City Representative. Richard G. Gibson the Mayor Pro Tern
of this City and Michael R. Yelton, Director of Administrative Services of this
City, designated by this Council as the City's representative and alternate,
respectively, to the Independent Cities Risk Management Authority Governing
Board and to the Liability Risk Management Ccnrnittee are hereby confirmed and
designated as the City's delegates to the Independent Cities Risk Management
Authority Governing Board for all purposes of representing the City's interest
and exercising the authority of the City with respect to the Coverage and the
program and voting on behalf of the City on all matters delegated to the
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1987 057 CC RESO (Ìì ÷ & Resolution No. 87-57
Page Two
Governing Board and signing such amendments as are contemplated to be approved
by the Governing Board and such individuals shall keep this Council informed
of such matters on a timely basis.
4. Effective Date. This Resolution shall take effect immediately
upon its adoption.
PASSED AND ADOPTED June 17, 1987.
MAYOR PRO TEM
ATTEST:
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS.
CITY OF BAIDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin Park, do hereby
certify that the foregoing Resolution was duly and regularly approved and
adopted by the City Council of the City of Baldwin Park at its regular meeting
of the City Council on June 17, 1987, by the following vote:
AYES: COUNCIIMEN IZELL AND MAYOR PRO TEM GIBSCN
NOES: OOUNCIIMEN NONE
ABSENT: COUNCIIMEN NONE
LINDA L. GAIR^ CITY CLERK'
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1987 057 CC RESO (Ìì ÷ & CITY OF BALDWIN PARK
TREASURER'S REPORT
MAY 30, 1987
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01
02
10
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ACTIVE INACTIVE
CASH INVESTMENTS
ND
NO. DESCRIPTION
GENERAL FUND $(4,260/531.06) $5/977,549.94
COMMUNITY REDEV. AGCY 68/078.96)
HOUSING AUTHORITY 59,984.21
TRAFFIC SAFETY 221/497.41
REVENUE SHARING 260/398.00
FEDERAL AID URBAN 556/792.67
GAS TAX 1/209/869.82
CAPITAL IMPROVEMENT 464/063.41 1/500/000.00
BICYCLE & PEDESTRIAN 141,049.04
PROPOSITION A 1/288,014.54
URBAN RECREATION 78/982.58
EDA REVOLVING LOAN 58/854.20
CDBG 8,731.20 122,671.85
STREET LIGHTING & LANDS 408,318.22
HAZARD ELIMINATION 26/300.09
LITTLEJOHN ASSESSMENT 630,280.72) 3,331/752.28
DELTA ASSESSMENT 1,460,686.82
FLEET SERVICES 449,691.02)
INFORMATION SERVICES 262,179.34)
INTERNAL INSURANCE 523/187.06
MORTGAGE REVENUE BONDS 30,766.48) 3,833,887.02
TRUST DEPOSIT 91,792.94
GENERAL FIXED ASSETS 585.00
TOTAL 1/157/579.63 14/765,861.09
CERTIFICATION OF FUNDS AVAILABILITY
FUND
TOTAL
$ 1,717/018.88
68,078.96)
59,984.21
221/497.41
260/398.00
556/792.67
1/209,869.82
1,964,063.41
141,049.04
1,288/014.54
78/982.58
58,854.20
131,403.05
408,318.22
26,300.09
2/701,471.56
1,460,686.82
449,691.02)
262/179.34)
523,187.06
3,803,120.54
91,792.94
585.00
15,923,440.72
In compliance with the January 1, 1986, amendment to the
Government Code/ Sec. 53646/ as Deputy Treasurer of the
City of Baldwin Park/ I hereby certify that sufficient
investment liquidity and anticipated revenues are
available to meet the City's budgeted expenditure
requirements for the month of June, 1987.
ftW^Jt
MICHAEISR.^YELTON
MTr'wa'ffTSk.p rvFTjrnw
DEPUTY CITY TREASURER
1'^4^
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1987 057 CC RESO (Ìì ÷ & INACTIVE INVESTMENTS
MAY 30,1 987
U.S. GOVERNMENT OWNED SECURITIES
IURCHASE DATE01/26/84 01/30/87CERTIFICAl PURCHASE MATURITY DATE06/15/13 01/01/09PES OF DEPOS MATURITY COUPON PRICE RATE96.875 11.50 99.832 8.00IT PAR AMOUNT$ 99,763.82 515,899.33 INITIJ
INVESTMI$ 96/64( 514/48<INTEREST LENT5.20 9.00 $ INVESTMENT BALANCE69,533.69 510,016.25
DATE DATE INSTIT UTION RATE
02/02/87 05/04/87 American Savings & Loan 6.30 $ 1, 831 752.28
01/05/87 07/07/87 American Savings & Loan 6.40 1, 000 000.00
02/06/87 07/06/87 American Savings & Loan 6.25 500 000.00
02/17/87 06/22/87 American Savings & Loan 6.50 1, 000 000.00
05/11/87 06/11/87 Brentwood Bank 6.50 100 000.00
05/11/87 06/11/87 California Federal Savings 5.35 100 000.00
05/11/87 06/11/87 County Savings Bank 7.15 100,000.00
05/11/87 06/11/87 Gibraltar Savings 6.45 100/000.00
05/11/87 06/11/87 Bell Savings & Loan 7.00 99/000.00
05/11/87 06/11/87 Westlake Thrift & Loan 6.50 100/000.00
05/11/87 06/11/87 American Savings 6.50 100/000.00
08/11/87 Farmers Savings & Loan 8.35 99/000.00
5/11/87 5/11/87 08/10/87 Great American Savings 6.55 100/000.00
THER INACTIVE INVESTMENTS
I.A.I.F.
SINGLE FAMILY MORTGAGE BONDS
JOBS BILL/URBAN PROGRAM
State of California
First Interstate Bank of Ca
Golden State Sanwa Bank
5/000,000.00
3/833,887.02
122,671.85
TOTAL INACTIVE CASH 14,765,861.09
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