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Document Date: 1/14/2009
Document Type: Resolution
Preserve Name:
Keywords (no more than 4): Annual Investment Policy
Project Name:
Project Number:
Vendor or Other Party:
Name (First):
Name (Last):
Address:
APN Number:
Document No. 09-05
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s
RESOLUTION NO. 09-_p 5_
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT
ADOPTING A STATEMENT OF INVESTMENT POLICY
AND AUTHORIZING THE CONTROLLER TO INVEST
SURPLUS FUNDS ALLOWED BY GOVERNMENT CODE
WHEREAS, the District needs to maximize the yield on surplus temporarily idle funds
in order to help meet land acquisition objectives; and
WHEREAS, Chapter 4, Division 2 of Title S of the Government Code authorizes the
District to deposit and invest surplus funds in investments which, at times, yield interest rates
higher than achievable through the Santa Clara County Pooled Fund, or the California Pooled
Investment Authority; and
WHEREAS, the District can often improve its yield on surplus funds without sacrificing
financial safety and flexibility.
NOW,THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section One. The Board of Directors of the Midpeninsula Regional. Open Space District
does hereby authorize the Controller to invest surplus or temporarily idle funds according to the
Investment Policy attached hereto as Exhibit"A" and by reference made a part hereof.
Section Two. Before any particular investments the Controller shall consult with the
General Manager, or a District employee authorized to act in his behalf, to determine anticipated
cash flow needs of the District.
Section Three. This Resolution supersedes Resolution No. 08-03, adopted January 16,
2008. This Resolution shall no longer be in effect as of January 14, 2010, unless extended in
time, and inactive funds shall then be deposited in the Santa Clara County Pooled Investment
Fund, with the California Pooled Investment Authority, or invested through the District's
commercial bank.
RESOLUTION NO. 09-0 5
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on January 14, 2009 at a Special Meeting thereof, by the following vote:
AYES: Mary Davey, Jed Cyr, Larry Hassett, Pete Siemens ,
Nonette Hanko, Cecily Harris & Curt Riffle
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: APPROVED:
Secretary President
Board of Directors Board of Directors
I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that
the above is a true and correct copy of a resolution duly adopted by the Board of Directors of
the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
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District Cl