RES-10197 Statement of Investment Policy FY 2007-08RESOLUTION NO. 10197
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE APPROVING AND ADOPTING
A STATEMENT OF INVESTMENT POLICY FOR
FISCAL YEAR 2007-
08.WHEREAS, California Government Code Sections 53600 et seq. set forth
detailed provisions regarding permitted and prohibited investments by cities and
accountability therefor;
and WHEREAS, the City Council adopted Resolution No. lOllS on September 12,
2006 adopting the City's Statement ofInvestment Policy for Fiscal Year 2006-07 (
herein referred to as the FY 2006-
07 SIP); and WHEREAS, the FY 2006-07 SIP requires that the City
Council annually review its Statement of Investment Policy and adopt a policy annually within
120 days following the end of each fiscal year by a resolution and vote of the City Council at
a public meeting, and separately by the Board of Directors of the
Orange Redevelopment Agency; and WHEREAS, the City's Investment Advisory
Committee and Investment Oversight Committee have reviewed the proposed Statement of Investment
Policy for Fiscal Year 2007-08 (herein referred to as the FY 2007-08 SIP) in
the form attached to this Resolution,and has recommended that the City Council
adopt the FY 2007-08 SIP; and NOW, THEREFORE, BE IT RESOLVED by
the City Council of the City of Orange that the FY 2007-08 SIP, in the
form attached, is the City's Statement ofInvestment Policy for Fiscal Year 2007-08 and is
dulyadopted in accordance with State law and Chapter 2.
49 of Title 2 of the Orange
ATTEST:
I, MARY E. MURPHY, City Clerk of the City of Orange, California, do hereby
certify that the foregoing Resolution was duly and regularly adopted by the City Council of
the City of Orange at a regular meeting thereof held on the 10th day of July, 2007, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCILMEMBERS: Smith, Murphy, Cavecche, Dumitru, Bilodeau
COUNCILMEMBERS: None
COUNCILMEMBERS: None
COUNCILMEMBERS: None
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