HomeMy WebLinkAbout19930 - RESOLUTIONS - 11/1/2000RESOLUTION NO. 144-ln
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 1st day of November 2000
AYES: Members Hodges, Jones, Oden, Reller—Spurgin and Mayor Rleindienst
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
Bv
City &Ierk-i City Manage
REVIEWED & APPROVED AS TO FORM A\