HomeMy WebLinkAboutORD-12-96 Amend Sec. 2.50.020 Duties of Investment Oversight CommitteeORDINANCE NO. 12-
96 AN ORDINANCE OF THE CITY COUNCIL OF
THE CITY OF ORANGE AMENDING SECTION 2.50.020
OF THE ORANGE MUNICIPAL CODE RELATING
TO DUTIES OF THE INVESTMENT
OVERSIGHT
COMMITTEE.THJ~ CITY COUNCIL OF THE CITY OF ORANGE HEREBY ORDAINS
AS
FOLLOWS:SECTION
I:Section 2.50.020 of Chapter 2.50 of Title 2 of the Orange Municipal Code is
hereby amended to add the
following:C. Review reports to the City Council from the Investment Advisory
Committee and prepare: I esponses as
required.D. Meet and report quarterly to the City Council summarizing the
Investment Oversight Committee meetings and the recommendations of the Investment
Advisory Committee. Such report shall contain an unedited copy of the Investment
Advisory Committee"s
recommendations."SECTION
II:A summary of this Ordinance shall be published and a certified copy of the full
text of this Ordinance shall be posted in the Office of the City Clerk at least five (5) days
prior to the City Council meeting at which this Ordinance is to be adopted. A summary of
this Ordinance shall also be published once within fifteen (15) days after this Ordinance'
s passage in a newspaper of general circulation, published, and circulated in the City
of Orange. The City Clerk shall post in the Office of the City Clerk a certified copy of
the full text of such adopted Ordinance along with the names of those City Council
members voting for lmd against the Ordinance in accordance with Government Code Section
36933.This Ordinance shall take effect thirty (30) days from and after the date of its fmal
passage.ADOPTED this 23rd day of April
1996
A'Y ~' I.L )1'7'--( '''(. -;;~, (-
0:' '/Ma~
r
of the City of Orange ATTEST:d-
c~~
z-City
Clerk of the ~ty of Orange
STATE OF CALIFORNIA)
COUNTY OF ORANGE )
CITY OF ORANGE )
I, CASSANDRA J. CATHCART, City Clerk of the City of Orange, California, do
hereby certify that the foregoing Ordinance was introduced at the regular meeting of the
City Council held on the 9th day of April , 1996, and thereafter at the regular
meeting of said City Council dilly held on the ..nrd day of Apr i 1 , 1996, was duly
passed and adopted by the following vote, to wit:
AYES: COUNCIL MEMBERS: ~lurphy, Barrera, Mayor Coontz, Spurgeon, Slater
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
Ord No. 12-96 2 DAD: