HomeMy Public PortalAbout2004-066 (05-04-04)RESOLUTION NO. 2004.066
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING AN AMENDMENT TO THE INVESTNMENT POLICY ALLOWING
THE CITY TREASURER TO INVEST THE $31.9 MILLION HAM PARK
REPLACEMENT FUNDS UP TO A PERIOD OF THREE YEARS
WHEREAS, the City Council adopted the Investment Policy on February
3, 2004 to establish guidelines for the prudent investment of City funds; and
WHEREAS, the investment policy lists specific allowable investments; and
and WHEREAS, the policy currently limits investments to a term of one year;
and
WHEREAS, the City recently received the Ham Park Replacement funds;
WHEREAS, the City Treasurer desires to extend the investment terms for
the Ham Park Replacement funds.
NOW, THEREFORE, BE IT RESOLVED, the City of Lynwood does
hereby find, order, proclaim and resolve as follows:
Section 1. That the Lynwood City Council authorizes the City Treasurer
to invest the Ham Park Replacement funds for a period up to three (3) years
Section 2. That the City Treasurer should invest the Ham Park
Replacement funds in the investments outlined in Investment Policy.
Section 3. This resolution shall become effective immediately upon its
adoption.
PASSED, APPROVED
and ADOPTED this 4th day of ' Nay 2004.
uis Byrd, ~y6t" /
ATTEST:
Andrea L. Hooper, City Clerk
APPROVED AS TO FORM:
APPROVED AS TO CONTENT:
City Attorney I
Iris Pygatt,(~C~/Treasu rer
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
i, the undersigned, City Clerk of the City of Lynwood, do hereby certify that
the foregoing Resolution was passed and adopted by the City Council of the City
of Lynwood at a regular meeting held on the 4th day of
,2004.
AYES: C0UNCII_NEN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
PEDROZA, RODR]GUEZ,
SANTILLAN, VASQUEZ A~D BYRD
Andrea L. Hooper, City Clerk
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City
Council of said City, do hereby certify that the above and foregoing is a full, true
and correction copy of Resolution No. ?an4_o~6 on file in my office and that
said Resolution was adopted on the date and by the vote therein stated.
Dated this 4th day of Hay ., 2004.
Andrea L. Hooper, City Clerk