Reso 2022-964RESOLUTION NO. 2022-964
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY
DISTRICT AUTHORIZING THE COSTA MESA SANITARY DISTRICT TO ENTER INTO THE
JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE CALIFORNIA CLASS
AND TO INVEST IN SHARES OF THE CALIFORNIA CLASS AND RELATED MATTERS.
WHEREAS, Section 6509.7 of Title 1, Division 7, Chapter 5 of the California Government
Code (the "Act") provides that, two or more public agencies that have the authority to invest
funds in their treasuries may, by agreement, jointly exercise that common power; and
WHEREAS, the Costa Mesa Sanitary District (the "District") is a public agency that has
the authority to invest funds in its treasury and intends to become a "Founding Participant" under
the Joint Exercise of Powers Agreement (the "JPA Agreement") creating the California
Cooperative Liquid Assets Securities System ("California CLASS"), by executing the JPA
Agreement; and
WHEREAS, the District desires to authorize the investment of its funds in the investment
programs offered by the California CLASS;
NOW, THEREFORE, the Board of Directors does hereby resolve:
1. The General Manager of the District or his or her designee (the "Authorized Officer")
is hereby authorized to execute and deliver the JPA Agreement, on behalf of the Public Agency,
in substantially the form presented at this meeting.
2. The District is hereby authorized to complete the registration form and become a
Founding Participant in order to purchase shares of beneficial interest issued by the California
CLASS from time to time with available funds of the District, and to redeem some or all of those
shares from time to time as such funds are needed.
3. The Treasurer of the District is hereby delegated authority of the Governing Body to
take all actions and to make and execute any and all instruments, which he or she might deem
necessary or appropriate in order to carry out the purposes of the Governing Body in adopting
this Resolution.
4. This Resolution shall take effect at the earliest date permitted by law.
PASSED and ADOPTED on this 27th
Secretary, Costa Mesa Sang ary District
Board of Director�
day of June 2022.
4Q / , Ll-
President, Costa Mesa Sanitary District
Board of Directors
STATE OF CALIFORNIA)
COUNTY OF ORANGE SS
CITY OF COSTA MESA
1, Noelani Middenway, District Clerk of the Costa Mesa Sanitary District, hereby
certify that the above and foregoing Resolution No. 2022-964, was duly and regularly
passed and adopted by said Board of Directors at a regular meeting thereof held on the
27th day of June 2022, by the following vote:
AYES: Ooten, Scheafer, Schafer, Perry
NOES: Eckles
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
Costa Mesa Sanitary District, this 27 th day of June 2022.