RES-ORA-0320 Statement of Investment Policy FY 1996-97RESOLUTION NO. ORA-
0320
A RESOLUTION OF THE ORANGE REDEVELOP-
MENT AGENCY APPROVING AND ADOPTING A
STATEMENT OF INVESTMENT POLICY AND
DELEGATING INVESTMENT OF ORANGE
REDEVELOPMENT AGENCY FUNDS TO THE
TREASURER OF THE CITY OF ORANGE.
WHEREAS, Government Code S53600 et ~. sets forth detailed provisions
regarding permitted and prohibited investments by public agencies, including the Orange
Redevelopment Agency, and accountability therefor; and
WHEREAS, state law requires that the Orange Redevelopment Agency adopt a
Statement of Investment Policy; and
WHEREAS, the Investment Oversight Committee has prepared a draft revised
Statement of Investment Policy taking into consideration the recommendations of the
City of Orange's Investment Advisory Committee; and
WHEREAS, the policy has been reviewed by both Agency Counsel and special
outs:lde counsel for compliance with state law; and
WHEREAS, the funds of the Orange Redevelopment Agency are invested by the
City Treasurer in accordance with the policy.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the
Orange Redevelopment Agency that the Statement of Investment Policy adopted by the
City of Orange shall be the Statement of Investment Policy of the Orange Redevelopment
Agency and the authority to invest Orange Redevelopment Agency funds shall be
delegated to the Treasurer of the City of Orange.
ADOPTED
this 10th day of September 27
anne
Coontz hairman,
Orange Redevelop 1996.
ATTEST:
a,
Clerk,
Orange
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Orange Redevelopment Agency at a regular meeting thereof held on the 1 Qth day
of September , 1996, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
DIRECTORS:
DIRECTORS:
DIRECTORS:
DIRECTORS:
MURPHY, BARRERA, COONTZ, SPURGEON, SLATER
NONE
NONE
NONE
dt/~A~Clerk
of the Oran e Redevelopment Agency ORA
RESO NO. 0320 DAD:ajj 2