HomeMy WebLinkAbout19-39 - Adopting the 19-20 Statement of Investment PolicyRESOLUTION NO. 19-39
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, ADOPTING THE 2019-2020 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 2019-2020 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
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 by the City Council of the City of Costa
Mesa has adopted the 2019-2020 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 6th day of August, 2019.
ATTEST:
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Brenda Green, ity Clerk
Katrirfk Fol6y, Mayor
APPROVED AS TO FORM:
Kir4erly Ha Barlow, City Attorney
Resolution No. 19-39 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. 19-39 and was duly passed
and adopted by the City Council of the City of Costa Mesa at a regular meeting held on
the 6th day of August, 2019, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: CHAVEZ, GENIS, REYNOLDS, MANSOOR,
MARK, STEPHENS, FOLEY
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 7th day of August, 2019.
Brenda Green, dty Clerk
Resolution No. 19-39 Page 2 of 2