HomeMy WebLinkAboutResolution No. 03-P3RESOLUTION NO n i _ p A
RESOLUTION OF THE BOARD OF DIRECTORS OF THE AZUSA PUBLIC FINANCING
AUTHORITY OF THE CITY OF AZUSA ADOPTING THE
INVESTMENT POLICY
WHEREAS the Public financing Authority of the City of Azusa 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 Authority; 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 of the City of Azusa does hereby adopt its
Investment Policy attached hereto marked Exhibit A and instructs the Agency
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 APPROVED this 6`h day of October, 2003
:*'r_ 11 L7ul \z'
1 HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Board of Directors of the Azusa Public Financing Authority of the City of Azusa at a
regular meeting thereof on the 6' day of October, 2003 by the following vote of
Directors:
AYES: BOARD DIRECTORS: HARDISON, STANFORD, CHAGNON, ROCHA, MADRID
NOES: BOARD DIRECTORS: NONE
ABSENT: BOARD DIRECTORS: NONE