HomeMy WebLinkAbout18-70 - 2018-2019 Statement of Investment PolicyRESOLUTION NO. 18-70
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, ADOPTING THE 2018-2019 STATEMENT OF INVESTMENT POLICY
FOR THE CITY, AND DESIGNATE THE FINANCE DIRECTOR TO ACT AS CITY
TREASURER TO INVEST AND REINVEST IDLE MONIES OF THE CITY OF COSTA
MESA IN ACCORDANCE WITH THE 2018-2019 STATEMENT OF INVESTMENT
POLICY
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
WHEREAS, in accordance with Section 53607 of the Government Code of the
State of California, the City Treasurer is hereby authorized (a) to invest such portion of
any idle money in the City Treasury, not required for the immediate necessities of the
City as is deemed wise or expedient, in securities in which this Council is authorized to
invest such sums by the provisions of State Government Code Section 53601 and
Section 53635, limited by the City's Investment Policy; and (b) to sell, or exchange for
other eligible securities, and reinvest the proceeds of the securities purchased. The
City Treasurer shall make a monthly report of such transactions to this Council.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Costa Mesa has adopted the 2018-2019 Statement of Investment Policy as set forth in
the attached document. The City Clerk shall certify to the passage and adoption of this
resolution, and it shall be thereupon in full force and effect.
PASSED AND ADOPTED this 16th day of October, 2018.
Sandra L. Genis, Mayor
ATTEST:
APP
Brenda Green, City Clerk Tomas k Du e, City Attorney
Resolution No. 18-70 Page 1 of 2
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, BRENDA GREEN, City Clerk of the City of Costa Mesa, DO HEREBY
CERTIFY that the above and foregoing is the original of Resolution No. 18-70 and was
duly passed and adopted by the City Council of the City of Costa Mesa at a regular
meeting held on the 16th day of October, 2018, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: Foley, Righeimer, Stephens, Mansoor, Genis
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 17th day of October, 2018.
u "tk
Brenda GreeW, City Clerk
Resolution No. 18-70 Page 2 of 2