HomeMy WebLinkAboutResolution - 3372 STATE OF CALIFORNIA) RESOLUTION NO. 3372
COUNTY OF RIVERSIDE)ss
CITY OF SAN JACINTO)
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A RESOLUTION OF THE CITY OF SAN JACINTO, CALIFORNIA,
AMENDING THE STATEMENT OF INVESTMENT POLICY
WHEREAS, Section 53646 of the Government Code of the State of
California requires that the Treasurer or Chief Fiscal Officer shall annually render
to the legislative body of his/her agency far review andlor amendment, a
Statement of Investment Policy; and
WHEREAS, any changes to the City's Statement of Investment must be
considered in public session of legislative body; and
WHEREAS, the City's Statement of Investment Policy was last reviewed
on February 18, 2010, without change; and
WHEREAS, the City's Statement of Investment Policy is now amended in
Section IV Delegation of Investment Authority, to provide that the allowable
percentage of time deposits (certificates of deposit/"CDs") be increased from "0
_ to 25%" of the portfolio to "0 to 30%" of the portfolio ("Level 1 — Investments").
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of San Jacinto hereby rescinds previous investment policy resolutions and
approves the City of San Jacinto Statement of Investment Policy, as attached
hereto in Exhibit "A".
PASSED, APPROVED and ADOPTED this 1'� day of March 2011, by the
following vote:
Ayes: Bartel, Kotyuk, Ledezma, Miller
Nays: None
Abstain: None
Absent: Di Memmo
City of San Jacinto
J�
Scott Miller, Mayor
ATTEST:
MW Richard Miller, City Clerk