RES-8812 Statement of Investment Policy FY 1997-98RESOLUTION NO. 8812
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF ORANGE APPROVING
AND ADOPTING A STATEMENT OF
INVESTMENT POLICY AND REPEALING
RESOLUTION NO. 8702.
WHEREAS, Government Code Section 53600 et ~. sets forth detailed provisions
regarding permitted and prohibited investments by cities and accountability therefore; and
WHEREAS, the City Council adopted resolution No. 8702 adopting the City's
Statement of Investment Policy October 8, 1996; and
WHEREAS, the Statement of Investment Policy requires that the City Council annually
review the City's Statement ofInvestment Policy and adopt a policy annually within 120 days of
the fiscal year end by a resolution and vote of the City Council at a public meeting, and
separately by the Orange Redevelopment Agency; and
WHEREAS, the Investment Oversight Committee has prepared a Statement of
Investment Policy for the 1997-98 fiscal year;
and WHEREAS, the City has had the policy reviewed by the City Attorney;
and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Orange as
follows:SECTION
I:That Resolution No. 8702 be repealed in its
entirety.SECTION
II:That the Statement of Investment Policy attached hereto as Attachment I is the City'
s Statement ofInvestment Policy for FYI997-98 and is duly adopted in accordance with
state law and Orange Municipal CodeChapter
2.49.ADOPTED this 9th day of
September 1997.0
c---LL-.
L-->7'. ~~r
ANIEL R. SLATER
Mayor Pro
Tem JOANNE COONTZ Mayor of the
ATTEST:
I 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 9th day ofSeptemqer.
1997, by the following vote:
AYES:COUNCIL MEMBERS: MURPHY, SLATER, SPURGEON, ALVAREZ
NOES:COUNCIL MEMBERS: NONE
ABSENT:COUNCIL MEMBERS: COONTZ
ABSTAIN:COUNCI MEMBERS: NONE
FoRES08812 HB:cdl