HomeMy WebLinkAbout16-02 - Adopting the 2015-2016 Statement of Investment Policy, and designate the Finance Director to act as Successor AgencySUCCESSOR AGENCY RESOLUTION NO, 16-02
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY, COSTA MESA, CALIFORNIA, ADOPTING THE 2015-
2016 STATEMENT OF INVESTMENT POLICY, AND DESIGNATE THE FINANCE
DIRECTOR TO ACT AS SUCCESSOR AGENCY TREASURER TO INVEST AND
REINVEST IDLE MONEY OF THE SUCCESSOR AGENCY TO THE COSTA MESA
REDEVELOPMENT AGENCY IN ACCORDANCE WITH THE 2015-2016 STATEMENT
OF INVESTMENT POLICY
THE SUCCESSOR AGENCY TO THE COSTA MESA REDEVELOPMENT
AGENCY 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 Treasury, not required for the immediate
necessities of the Agency as is deemed wise or expedient, in securities in which this
Agency is authorized to invest such sums by the provisions of State Government Code
Section 53601 and Section 53635, limited by the Agency's Investment Policy; and (b) to
sell, or exchange for other eligible securities, and reinvest the proceeds of the securities
purchased. The Treasurer shall make a monthly report of such transactions to this
Agency.
NOW, THEREFORE, BE IT RESOLVED that the Successor Agency to the City
of Costa Mesa Redevelopment Agency has adopted the 2015-2016 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.
Successor Agency Resolution No. 16-02 Page 1 of 2
PASSED AND ADOPTED this 5th day of January, 2016.
Stephen M. Mensi ger, Chair
Successor Agenc to the Costa Mesa Redevelopment Agency
ATTEST: APPROVED AS TO FORM:
t'..W&�LA
Brenda Green, 8,6cretary
Successor Agency to the Costa Mesa
Redevelopment Agency
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
A nnt
Thomag P. Du e, Counsel
Successor Agency to the Costa Mesa
Redevelopment Agency
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. 16-02 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 5th day of January, 2016, by the following roll call vote, to wit:
AYES:
COUNCIL MEMBERS:
Foley, Genis, 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 6th day of January, 2016.
Brenda Green, 56cretary
(SEAL)
Successor Agency Resolution No. 16-02 Page 2 of 2