RES-8051 Adopting a Statement of Investment PolicyRESOLUTION NO. 8051
A RESOLUTXON OF THE CXTY COUNCXL OF THB
CXTY OF ORANGE ADOPTXNG A STATEMENT OF
XNVESTMENT POLXCY FOR INVESTMENT OF CXTY
FUNDS.
WHBREAS, the City Council has determined that it is in the
best interests of the City to maintain a statement of Investment
Policy governing the deposit, safekeeping and investment of the
city's funds; and
WHEREAS, the City Council has carefully reviewed its existing
statement of Investment Policy and found that certain revisions and
clarifications are in the best interest of the city; and
WHEREAS, the City Council has determined that a limited
delegation of its cash management and investment authority to the
city Treasurer pursuant to Government Code Section 53607, subject
to prescribed investment guidelines and continuous reporting
requirements and review by the City Council, is the most prudent
and practical means of carrying out the City's cash management and
investment policies.
NOW THEREFORE BE XT RESOLVED, that the City Council of the
City of Orange does adopt the statement of Investment Policy in the
form attached hereto as its investment policy and mandates that all
investment of City funds and funds under the safekeeping and
investment authority of the City be invested in strict conformance
to said statement of Investment Policy.
BB XT FURTHER RESOLVED, that the City Treasurer is hereby
delegated the limited investment authority for the deposit,
safekeeping and investment of the City's funds, as set forth in the
Statement of Investment Policy and expressly subject to the strict
investment guidelines and continuous reporting requirements set
forth therein.
ADOPTED this 28th day of
ATTBST:
JJt~M~1Jr' g ~~"f~City Cler of ~e crZty 0 Orange
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 28th of July, 1992,
the following vote: ----
by II
AYES:
NOES:
ABSENT:
Reso No. 8051
COUNCIL MEMBERS: STEINER, BARRERA, MAYOR BEYER, COONTZ, SPURGEON
COUNCIL MEMBERS: NONE
COUNCIL MEMBERS: NONE
1??~~~ 9- S2>~;1"'~
city Clerk f th(( ciW' of Orange
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