HomeMy WebLinkAbout20225 - RESOLUTIONS - 12/5/2001 RESOLUTION NO. 20225 ,
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, ADOPTING AN INVESTMENT POLICY
GOVERNING THE INVESTMENT OF CITY FUNDS.
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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 policywas reviewed by the City(Manager, CityAttomey,
and the City's outside Auditors, Conrad & Associates; and
WHEREAS, the comments and suggestions of these parties wart: 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 5th day of December 12001
AYES: Members Mills, Oden, Reller-Spurgin and Mayor Rleindients
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Managler
REVIEWED &APPROVED AS TO FORM --