HomeMy WebLinkAboutResolution No. 93-C0680 0
RESOLUTION NO 93-C68
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
RE -ADOPTING ITS INVESTMENT POLICY
WHEREAS 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 City Treasurer is charged with the duties of handling and
maintaining the cash that is taken in or otherwise received by the City; and
WHEREAS the balance of these funds fluctuates between $3,000,000 and
$20,000,000 or more; and
WHEREAS the City 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 Man Rule"; and
WHEREAS the State of California requires each City to adopt an investment
policy for its jurisdiction.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of
Azusa does hereby re -adopt its Investment Policy attached hereto as Exhibit A and instsructs
the City Treasurer to be guided by it in carrying out the duties of his office for the benefit of
the City of Azusa.
ADOPTED AND APPROVED this 6th day of July , 1993.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
City Council of the City of Azusa at a regular meeting thereof on the 6th day of July,
1993 by the following vote of Coouncil:
AYES: COUNCILMEMBERS: DANGLEIS, MADRID, NARANJO, ALEXANDER,
MOSES
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE