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Document Date: 1/13/2010
Document Type: Resolution
Preserve Name:
Keywords(No More Than
4): Annual Investment Policy Statement
Project Name:
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Name (Last):
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APN Number:
Document No. 10-01
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RESOLUTION NO. 10-01
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 THE CALIFORNIA 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 5 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 13, 2011, 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. 10-01
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on January 13, 2010 at a Regular Meeting thereof, by the following vote:
AYES: JED CYR,LARRY HASSETT,MARY DAVEY,PETE SIEMENS,CECILY HARRIS,AND
CURT RIFFLE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONETTE HANKO
ATTEST: APPROVED:
I
recretar, President
Board of Directors Board of Directors
i
I, the Interim District Clerk of the Midpeninsula Regional Open Space District, hereby
i
1 o certify that the above is a true and correct copy of a resolution du y adopted by the Board of
Directors of the Midpeninsula Regional Open Space District by the above vote at a meeting
thereof dulyheld and called on the above day.
Y
Interim District Clerk