HomeMy WebLinkAbout95-54 - Authorizing City TreasurerRESOLUTION NO. 95-54
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, AUTHORIZING THE CITY
TREASURER TO INVEST AND REINVEST IDLE MONIES OF
THE CITY OF COSTA MESA IN ELIGIBLE SECURITIES AND
TO SELL OR EXCHANGE SECURITIES PURCHASED, AND
AUTHORIZING SAID TREASURER TO DEPOSIT SUCH
SECURITIES FOR SAFEKEEPING IN DESIGNATED BANKS
AND SAVINGS AND LOANS AND AUTHORIZING THE SAID
TREASURER TO DELEGATE TO THE ASSISTANT
DIRECTOR OF FINANCE THE CARRYING OUT OF ANY
SUCH TASKS.
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 the 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 Clerk shall certify to the passage
and adoption of this resolution, and it shall thereupon be in full force and effect.
PASSED AND ADOPTED this 19th day of June, 1995.
ATTEST:
2L,O-� f . �e
Deputy City 'lerk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
M1jr of the City of Costa Mesa
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council of
the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 95-54 was
duly and regularly passed and adopted by the said City Council at a regular meeting thereof held
on the 19th day of June, 1995, by the following roll call vote:
AYES: Erickson, Buffa, Hornbuckle, Monahan
NOES: None
ABSENT: Genis
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City
of Costa Mesa this 20th day of June, 1995.
Deputy Cit Jerk and ex -officio Clerk of
the City Council of the City of Costa Mesa
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