HomeMy WebLinkAbout7_10_2007 - ORA MinutesAPPROVED BY THE DIRECTORS ON JULY 24, 2007
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING July 10, 2007
The Orange Redevelopment Agency of the City of Orange, California convened on July 10,2007
at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue, Orange
California.
4:30 P.M. SESSION
1. ROLL CALL
PRESENT -ABSENT -
Smith, Murphy,
Cavecche, Dumitru, Bilodeau None.2.
PUBLIC
COMMENTS - None.3. CONSENT CALENDAR
3.1 Request
Agency confirmation of warrant registers dated June 21 and 28, 2007.ACTION:Approved.3.
2 Request
approval of Redevelopment Agency Minutes, Regular Meeting of June 26,2007. (RC2500.D.
4)ACTION:Approved.3.
3 RESOLUTION
ORA-0462 (ORI800.0.27.13)A Resolution
of the Orange Redevelopment Agency Authorizing Investment of Monies in the
Local Agency Investment Fund.See related
City Council Minutes item No. 3.18)ACTION: Approved.
MOTION -SECOND
AYES -Dumitru
Murphy
Smith, Murphy,
Cavecche,
Dumitru,
Bilodeau All items on the
Consent Calendar were approved as recommended.END OF CONSENT CALENDAR
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ORANGE
REDEVELOPMENT AGENCY MINUTES July 10,2007 4.
REPORTS FROM DIRECTORS - None.5. REPORTS
FROM BOARDS, COMMITTEES, AND COMMISSIONS 5.1
Annual review and approval of the City of Orange and the Orange Redevelopment Agency Statement
ofInvestment Policy (SIP) for Fiscal Year 2007-08. (ORI800.0.27.16.2)See
related City Council Minutes Item No. 6.1)SUMMARY:
Per recommendations from the Investment Advisory Committee and the Investment
Oversight Committee, it is proposed that three changes be made to the City's and Redevelopment
Agency's Statement of Investment Policy. The recommended changes include the
addition of Certificates of Deposit (CD) investments, increase federal agencies percentage of the
total portfolio to 65% from 50%, and adjustment to the percentage of the total portfolio for 3-4
and 4-5 year investment categories to no more than 30%.
RESOLUTION ORA-
0465 A Resolution of the Orange Redevelopment Agency approving and adopting a Statement
of Investment Policy for FY 2007-08 and delegating investment of Orange
Redevelopment Agency funds to the Treasurer of the City
of Orange.MOTION -
Bilodeau SECOND - Dumitru
AYES - Smith, Murphy, Cavecche, Dumitru, Bilodeau ACTION:
Moved to repeal Resolution No. ORA-0458 and approve Resolution No. ORA-
0465 adopting the Statement ofInvestment Policy for FY
2007-08.FISCAL IMPACT: No
fiscal impact.6. REPORTS FROM EXECUTIVE DIRECTOR -
None.7. ADMINISTRATIVE REPORTS - None.
8. LEGAL AFFAIRS - None.PAGE
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ORANGE REDEVELOPMENT AGENCY MINUTES July 10, 2007
9. RECESS TO CLOSED SESSION
NOTE: The Agency did not recess.
a. To consider and take possible action upon such other matters as are orally announced by the
General Counsel, Executive Director of the Board of Directors prior to such recess unless the
motion to recess indicates any of the matters will not be considered in Closed Session.
10. ADJOURNMENT
The Agency adjourned at 5:20 p.m.
The next Regular meeting ofthe Redevelopment Agency is scheduled for July 24, 2007.
Declaration of the Clerk of the Orange Redevelopment Agency, Mary E. Murphy, declaring
posting of Orange Redevelopment Agency Agenda of a regular meeting of July 10, 2007 at
Orange Civic Center kiosk, Police facility at 1107 North Batavia, and the Main Public Library
at 407 E. Chapman; all of said locations being in the City of Orange and freely accessible to
members of the public at least 72 hours before commencement of said regular meeting.
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