HomeMy Public PortalAbout2008.010 (01-15-08)RESOLUTION NO. 2008.010
A RESOLUTION OF~ THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING THE TREASURER'S. STATEMENT OF INVESTMENT POLICY
WHEREAS, the Treasurer is responsible for the City of Lynwood's cash
flow whereby funds are transferred from various accounts to meet operating
~ obligations; and
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WHEREAS, the Treasurer is also responsible for the investment of idle
cash; and
WHEREAS, the Treasurer has prepared guidelines for a prudent
investment policy; and
WHEREAS, the policy contains certain investment criteria; and
WHEREAS, the basic premise of the policy is to ensure the safety of
funds and assure that the Lynwood City Council's cash needs are met.
NOW, THEREFORE, the Lynwood City Council does hereby find,
proclaim, order and resolve as follows:
Section 1. That the Treasurer's Statement of Investment Policy is hereby
approved.
Section 2. This resolution shall go into effect immediately upon its
adoption
PASSED, APPROVED and ADOPTED this 15th day of January.
M ria T. Santillan, Mayor
ATTEST: _ APPROVED AS CONTENT:
Maria Quinonez, ity Clerk Roger L. Hate ,City Manager
TO FORM:
ul Salinaterim City Attorney
STATE OF CALIFORNIA )
SS.
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 15th day of January, 2008.
AYES: COUNCIL MEMBER, CASTRO, FLORES, MARTINEZ, RODRIGUEZ,
AND SANTI LLAN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
.----
aria Quinonez, Cler
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2008.010 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 15th day of January-2008
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aria Quinon ,City Clerk