Resolution 12232LL
CITY OF ALAMEDA RESOLUTION NO. 12232
RESOLUTION AUTHORIZING THE CITY OF ALAMEDA
TO JOIN WITH OTHER PUBLIC AGENCIES
AS A PARTICIPANT OF THE
CALIFORNIA ARBITRAGE MANAGEMENT TRUST
AND TO INVEST IN SHARES OF THE TRUST
AND IN 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
uJ schools, city, city and county, public corporation, public
district, regional transportation commission or state department or
CI agency; and
4—
WHEREAS, public agencies which constitute local agencies, as
that term is defined in Section 53630 of Title 5, Division 2, Part
l-
c) 1, Chapter 4, Article 2 of the Government Code of the State of
California, are authorized pursuant to Section 53635 thereof to
invest all money belonging to, or in the custody of, the local
agency in certain specified investments; and
WHEREAS, the California Arbitrage 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 (the "Declaration of Trust") by Monterey
Peninsula Water Management District and Placer County, as the
initial Participants, as a vehicle for public agencies to jointly
exercise their common power to invest bond proceeds, and to secure
related record keeping, custodial and Federal arbitrage rebate
calculation services; 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
WHEREAS, there has been presented to this meeting an
Information Statement describing the Trust and the Individual
Portfolios to be managed by the Investment Advisor to the Trust
(the "Information Statement");
NOW, THEREFORE, BE IT RESOLVED by the City Coucnil of the City
of Alameda of the Public Agency as follows:
Section 1. The City of Alameda 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 Mayor and City Clerk are hereby
authorized to execute, and the City Clerk is hereby authorized to
attest and deliver, the Declaration of Trust, in substantially the
form presented at this meeting.
Section 2. The Finance Director on behalf of the City of
Alameda is hereby authorized to purchase shares in the Trust from
time to time with available bond proceeds of the City, and to
redeem some or all of those shares from time to time as such
proceeds are needed for the purposes for which such bonds were
issued.
Section 3. The Finance Director is hereby authorized to
invest available bond proceeds of the City of Alameda 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 City of Alameda are hereby authorized and directed in the name
and on behalf of the City of Alameda 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 Council of the
City of Alameda in regular meeting assembled on the 21st day of
April , 1992, by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Lucas, Roth
and President Withrow - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 22nd day of April , 1992.
Diane . Felsch, City Clerk
City of Alameda