HomeMy WebLinkAbout19685 - RESOLUTIONS - 11/17/1999 RESOLUTION NO. 19685
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, ADOPTING AN INVESTMENT 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 17th day of November , 1999.
AYES: Members Barnes, Hodges, Oden, Reller-Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
(By
sty Clerk "City Manager
REVIEWED & APPROVED AS TO FORM �i\'�