HomeMy WebLinkAboutResolution No. 98-P2RESOLUTION NO 98-P2
RESOLUTION OF THE BOARD OF DIRECTORS OF THE AZUSA PUBLIC
FINANCING AUTHORITY ADOPTING THE AMENDED INVESTMENT POLICY
WHEREAS the Azusa Public Financing Authority receives taxes and other
revenues from a variety of sources and uses the funds to pay its bills on a regular basis; and
WHEREAS the APFA Treasurer is charged with the duties of handling and
maintaining the cash that is taken in or otherwise received by the APFA; and
WHEREAS the balance of these funds fluctuates between $3,000,000 and
$20,000,000 or more; and
WHEREAS the APFA Treasurer is charged with the responsibility of investing
idle public funds, doing so on the basis of protecting the safety of the funds, ensuring the
liquidity of the investments, and maximizing earnings in that order of importance and based on
the 'Prudent Investor Standards"; and
WHEREAS the State of California requires each Authority to adopt an
investment policy for its jurisdiction.
NOW THEREFORE BE IT RESOLVED that the Board of Directors of the
Azusa Public Financing Authority does hereby re -adopt its Investment Policy attached hereto
marked Exhibit A and instructs the APFA Treasurer to be guided by it in carrying out the
duties of his office for the benefit of the Azusa Public Financing Authority.
ADOPTED AND APPROVEDlk g ---,5th day: of June., 1998.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Board of Directors of the Azusa Public Financing Authority at a regular meeting thereof on the 15th
day of =June, 1998 by the following vote of Directors:
AYES: BOARD DIRECTORS:HARDISON, ROCHA, BEEBE, MADIRD
NOES: BOARD DIRECTORS: NONE
ABSENT: BOARD DIRECTORS: STANFORD
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