HomeMy WebLinkAbout17-38 - (2016-2017) Statement of InvestmentRESOLUTION NO. 17-38
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, ADOPTING THE 2016-2017 STATEMENT OF INVESTMENT POLICY
FOR THE CITY, AND DESIGNATE THE FINANCE DIRECTOR TO ACT AS CITY
TREASURER TO INVEST AN REINVEST IDLE MONEY OF THE CITY OF COSTA
MESA IN ACCORDANCE WITH THE 2016-2017 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 2016-2017 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.
PASSED AND ADOPTED this 6th day of June, 2017.
Resolution No. 17-38 Page 1 of 2
ATTEST:
6"CL11w-
Brenda Green ity Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF COSTA MESA )
ss
APPROVED AS TO FORM:
11f, )
Thomas P. Duarte, 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. 17-38 and was duly passed
and adopted by the City Council of the City of Costa Mesa at a regular meeting held on the
6th of June, 2017 by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: MANSOOR, RIGHEIMER, STEPHENS, GENTS, 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 June, 2017.
&1 S JlL I"
Brenda Green,(3y Clerk
Resolution No. 17-38 Page 2 of 2