HomeMy WebLinkAbout19422 - RESOLUTIONS - 12/2/1998 RESOLUTION NO. 19422
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, ADOPTING AN INV"ESTMENT
POLICY GOVERNING THE INVESTMENT OF CITY FUNDS .
WHEREAS, Section 53646 (a) of the State of California Government '
Code requires that an investment policy is annually rendered to and
considered by the City Council in a public meeting; and
WHEREAS, the City Treasurer has prepared an investment policy which
meets the standards delineated in the California Debt Advisory
Commission' s report on Local Agency Investment Guidelines; and
WHEREAS, the revised investment policy was reviewed by the Finance
Committee of the City Council, the City Manager, City attorney, and
the City' s outside Auditors, Conrad & Associates; and
WHEREAS, the comments and suggestions of these parties were
incorporated into the revised Investment Policy document: before
Council; and
WHEREAS, the revised Investment Policy describes the City' s
commitment to safeguarding its funds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Palm Springs, that the Investment Policy recommended is hereby
adopted. '
ADOPTED THIS 2nd. day of December 1998 .
AYES : Members Barnes, Hodges, Oden, Reller-Spurgin and Mayor Kle-idnienst
NOES : None
ABSENT: None
ATTEST: CITh F PALM S RINGS, CALIFORNIA
1 a
By ,__L `1
City' Clerk City -Manage
REVIEWED & APPROVED AS TO FORM
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