HomeMy Public PortalAbout1999.045 (04-06-99)RESOLUTION NO. 89.45
A RESOLUTION OF THE CITY COUNCIL DF 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 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 City Treasurer has prepared guidelines for a prudent investment policy;
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WHEREAS, the policy contains certain investment criteria; and -
WHEREAS, the basic premise of:thepolicy is to ensure the safety of funds and assure
that the City's cash needs are met.
NOW, THEREFORE, the City Council does hereby find, proclaim, order and resolve as
follows:
- Section 1. That the City 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 6th day of A p r i 1 1999.
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RIC O SANCHEZ _
Pr ident
- - APPROVED AS TO FORM: -
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CITY ATTORNEY
ATTEST: ~ ~ .
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ANDREA L. HOOPER ~ -
- . Secretary .. -
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APPRO 1AS TO NTENT:
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IRIS PYGAT
,~, 'City Treasur ~ .
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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 6th, day of Apri1,1999: -
AYES: MEMBER BYRD, REA, REYES, RICHARDS, SANCHEZ
NOES: NONE
ABSENT: NONE
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City Clerk, City of Lynwood
STATE OF CALIFORNIA )
... _ ) SS.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and Glerk 'of the City
Council of said City, do hereby certify that the above and foregoing is a full, true and
correct copy of Resolution No. 99.45 on file in my office and that said resolution was
adopted on the date and by the vote therein stated.
Dated this 6th, day of April, 1999.
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City Clerk
resoluti/resobp