HomeMy WebLinkAbout21120 - RESOLUTIONS - 11/3/2004 RESOLUTION NO. 21120 '
OF THE CITY COUNCIL OF THE CITYOF 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 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
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 3rd of November, 2004
AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ATTEST: CITY
OF PALM SPRINGS, CALIFORNIA
By
NA City Clerk City Mana
REVIEWED &APPROVED AS TO FORM
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