HomeMy Public PortalAbout97-200 (12-03-97)RESOLUTION NO.
97-200
A RESOLUTION OF THE CITY COUNCII. OF THE CITY OF LYNWOOD
APPROVING THE TREASURER'S STATEMENT OF INVESTMENT POLICY
' WHEREAS, the Lynwood City Treasurer is responsible for the City's cash flow whereby
funds are uansfeaed from various accounts to meet operating obligations; and
WHEREAS, the Treasurer is also responsible for the investment of idle cash; and
WHEREAS, the City Treasurer has prepared guidelines for a prudem 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 Ciry's cash needs are met.
NOW, THEREFORE, the Ciry Council do hereby Snd, proclaim, order and resolve as
follows:
Section l. That the City Treasurer's Statement of Investment Policy is hereby approved.
Secrion 1. This resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 3rd day of Decer~ber , 1997.
,
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MAYOR
APPROVED AS TO FORM:
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CIT ATTORNEY
ATTEST:
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ANDREA L. HOOPER
' Ciry Clerk
AS
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IItIS PYG.~CT7
City Treasurer
STATE OF CALIFORNIA )
) 4
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwnod, do
hereby certify that the foregoing resolution was passed and adoptPd
by the City C~uncil of the Citv of LynwQOd at an adjourned meeting
held on thv 3rd day of December, 1997.
AYES: COUNCILMEMBER REYES, SANCHEZ, REA
NOES: NONE
ABSERT: COUNCILMEMBER BYRD, RICHARDS
( ~~'~~ % i ~ ~'rv~e~-,~[.t/ _
City C1?rk, City of L~~owoo
STATE OF CALIFORNIA )
) §
COUNTY OF LOS ANGELES )
I, ~he undersigned Ci+y Clerk of the City of Lunwond, and Clerk
of th? City Council of said City, do hereby certify that the above and
foregoing is a full, true and correct copy of Resnlution Mo. 9]-200 nn
file in m, officP and that said resolutien was adopted or the da.te ard
bv *he vote ±herein si;ated.
U~~ed this 3rd day of December, 1997.
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Cit~~ Cl?rk