HomeMy WebLinkAbout14-70 - Adopting 2014-2015 Statement of Investment Policy1
RESOLUTION NO. 14-70
A RESOLUTION OF THE CITY COUNCIL 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 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 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 City Council of the City of
Costa Mesa has adopted the 2014-2015 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 be in full force and effect.
Resolution No. 14-70 Page 1 of 2
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PASSED AND ADOPTS this 18th day of November, 2014.
James RjjWrper, Mayor
ATTEST:
Brenda Gme' ,- City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
APPR D TO FORM:
Tho as P. arte', City Attorney
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. 14-70 and was
duly passed and adopted by the City Council 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.
Oke '
Brenda -_Green,- ity Clerk
(SEAL)
Resolution No. 14-70 Page 2 of 2