HomeMy WebLinkAbout65-102 - Investment of Surplus Muncipal FundsFOLLOWS :
RESOLUTION N0. 65-102
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, PROVIDING FOR INVESTMENT OF SURPLUS MUNICIPAL
FUNDS AND AUTHORIZING THE DIRECTOR OF FINANCE TO MAKE SUCH
INVFSTMEM .
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE AS
I
WHEREAS Section 53601 to and including 53608 of the California Code,
being a portion of Title 5, Division 2, Chapter 4, Article 1, provide for
the investment of local agency surplus funds; and
WHEREAS, it is the desire and intention of the City Council of the City
of Costa Mesa to provide for the investment of said surplus funds;
NOW, THEREFORE, BE IT RESOLVED that the Director of Finance, with the approval
of the Treasurer of the City of Costa Mesa, be authorized to invest surplus funds
in accordance with the aforesaid sections;
BE IT FURTHER RESOLVED that the Director of Finance, upon each occasion
of such investment report to the Council at their next regular meeting; and
the Council shall thereupon ratify or disapprove such action:
BE IT FURTHER RESOLVED that only so much money as is not necessary to
meet current obligations of the City of Costa Mesa be made subject of the
investment program as described herein;
Passed and adopted this 20th day of December, 1965.
Mayor of the City of Costa Mesa
Pro. Tem.
ATTEST:
City Clerk of the City of Costa Mesa
STATE OF CALIFORNIA )
) SS.
COUNTY OF ORANGE )
I, C. K. PRIEST, City Clerk of the City of Costa Mesa and ex -officio
Clerk of the City Council of the City of Costa Mesa hereby certify that the
above and foregoing resolution No. 65-102 was duly and regularly passed and
adopted by the City Council of the City of Costa Mesa at a regular meeting
thereof held on the 20th day of December, 1965.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
seal of the City of Costa Mesa, this 21st day of December, 1965.
City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa