CIC Resolution 03-123COMMUNITY IMPROVEMENT COMMISSION
OF THE CITY OF ALAMEDA RESOLUTION NO. 0 3-1 2 3
AUTHORIZING THE COMMUNITY IMPROVEMENT COMMISSION OF THE
CITY OF ALAMEDA "PUBLIC AGENCY" TO JOIN WITH OTHER PUBLIC
AGENCIES AS A PARTICIPANT OF THE CALIFORNIA ASSET MANAGEMENT
TRUST AND TO INVEST IN SHARES OF THE
TRUST AND [NT INDIVIDUAL PORTFOLIOS
WHEREAS, Section 6502 of Title 1, Division 7, Chapter 5 of the Government
Code of the State of California (the "Joint Exercise of Powers Act ") provides that, if
authorized by their legislative or other governing bodies, two or more public agencies by
agreement may jointly exercise any power common to the contracting parties; and
WHEREAS, under Section 6500 of the Joint Exercise of Powers Act, a "public
agency" includes but is not limited to any California county, county board of education,
county superintendent of schools, city, city and county, public corporation, public district,
regional transportation commission or state department or agency; and
WHEREAS, public agencies which constitute local agencies, as that term is
defined in Section 53630 of Title 5, Division 2, Part 1, Chapter 4, Article 2 of the
Government Code of the State of California (the "California Government Code "), are
authorized pursuant to Section 53601 and/or 53635 thereof to invest all money belonging
to, or in the custody of, the local agency in certain specified investments; and
WHEREAS, the California Asset Management Trust (the "Trust ") was
established, pursuant to and in accordance with the Joint Exercise of Powers Act, by a
Declaration of Trust, made as of December 15, 1989 and as subsequently amended (the
"Declaration of Trust "), as a vehicle for public agencies to jointly exercise their common
power to invest bond proceeds and other funds; and
WHEREAS, pursuant to and in accordance with the Joint Exercise of Powers Act,
the Public Agency desires to join the other public agencies which are or will be
Participants of the Trust by adopting and executing the Declaration of Trust, a form
which has been presented to this meeting; and
WHEREAS, the Public Agency is a public agency as that term is defined in the
Joint Exercise of Powers Act and a local agency as that term is defined in Section 53630
of the California Government Code; and
WHEREAS, the Public Agency is otherwise permitted to be a Participant of the
Trust and to invest funds in the Trust and in the Individual Portfolios to be managed by
the Investment Adviser to the Trust ("Individual Portfolios "); and
WHEREAS, there has been presented to this meeting an Information Statement
describing the Trust and the Individual Portfolios (the "Information Statement ").
NOW, THEREFORE, BE IT RESOLVED by the Public Agency as follows:
Section 1. The Public Agency shall join with other public agencies pursuant to
and in accordance with the Joint Exercise of Powers Act by executing the Declaration of
Trust and thereby becoming a Participant in the Trust, which Declaration of Trust is
hereby approved and adopted. A copy of the Declaration of Trust shall be filed with the
minutes of the meeting at which this Resolution was adopted. The Treasurer of the
Community Improvement Commission is hereby authorized to execute, and the Secretary
of Governing Body is hereby authorized to attest and deliver, the Declaration of Trust, in
substantially the form presented at this meeting.
Section 2. The Public Agency is hereby authorized to purchase shares in the
Trust from time to time with available funds of the Public Agency, and to redeem some
or all of those shares from time to time as such funds are needed.
Section 3. The Public Agency is hereby authorized to invest available funds of
the Public Agency from time to time in one or more Individual Portfolios managed by the
Investment Adviser to the Trust and described in the Information Statement.
Section 4. The appropriate officers, agents and employees of the Community
Improvement Commission are hereby authorized and directed in the name and on behalf
of the Commission to take all actions and to make and execute any and all certificates,
requisitions, agreements, notices, consents, warrants and other" documents, which they, or
any of them, might deem necessary or appropriate in order to accomplish the purposes of
this Resolution.
Section 5. This Resolution shall take effect at the earliest date permitted by law.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by the Community Improvement Commission of the City of Alameda in a
Special Community Improvement Commission meeting assembled on the 16th day of December,
2003, by the following vote to wit:
AYES: Commissioners Daysog, Gilmore, Kerr, Matarrese, and
Chair Johnson - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said
Commission this 17th day of December, 2003.
overly Johnson,
Community Iinpr
Lara Weisiger, Secretary
Community Improvement Commission