HomeMy WebLinkAbout20498 - RESOLUTIONS - 11/26/2002 ' RESOLUTION NO. 7nnou
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 investment policy was reviewed by 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
Investment Policy document before Council; and
WHEREAS, the 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 26th day of November 12002
AYES: Members Hodges, Mills, Oden, Reller—Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By ���r%'�r1•��
City Cler City Mana e
REVIEWED &APPROVED AS TO FORM
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