HomeMy WebLinkAbout14-71 - Adopting the 2014-2015 Statement of Investment Policy for the City, and Designating the Finance Director to act as City1
SUCCESSOR AGENCY RESOLUTION NO. 14-71
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT
AGENCY OF THE CITY OF COSTA MESA, CALIFORNIA, ADOPTING THE 2014-
2015 STATEMENT OF INVESTMENT POLICY FOR THE CITY, AND DESIGNATING
THE FINANCE DIRECTOR TO ACT AS CITY TREASURER TO INVEST AND
REINVEST IDLE MONEY OF THE CITY OF COSTA MESA IN ACCORDANCE WITH
THE 2014-2015 STATEMENT OF INVESTMENT POLICY
THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY 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 sinking fund of, or 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 Successor Agency to the
Redevelopment Agency of the City of Costa Mesa has adopted the 2014-2015
Statement of Investment Policy as set forth in the attached document. The Secretary
shall certify to the passage and adoption of this resolution, and it shall be thereupon be
in full force and effect.
Successor Agency Resolution No. 14-71 Page 1 of 2
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PASSED AND ADOPTED this 18th day of November, 2014.
ATTEST:
Brenda Green, Secretary
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF COSTA MESA )
ss
APPRO AS T FORM:
W
ho a P. (da , City Attorney
I, BRENDA GREEN, Secretary of the Successor Agency to the Redevelopment
Agency of the City of Costa Mesa, DO HEREBY CERTIFY that the above and foregoing
is the original of Resolution No. 14-71 and was duly passed and adopted by the
Successor Agency to the Redevelopment Agency of the City of Costa Mesa at a regular
meeting held on the 18th day of November, 2014, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: Genis, Leece, Monahan, Mensinger, Righeimer
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 18th day of November, 2014.
5ud& clylul�
Brenda Green;_ Secretary
Successor Agency Resolution No. 14-71 Page 2 of 2