Reso 2016-889 RESOLUTION NO. 2016-889
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY
DISTRICT ADOPTING A STATEMENT OF INVESTMENT POLICY FOR FISCAL YEAR
2016-17, AND AUTHORIZING THE TREASURER TO INVEST AND REINVEST IDLE
MONIES OF THE COSTA MESA SANITARY DISTRICT IN ACCORDANCE WITH THE
STATEMENT OF INVESTMENT POLICY, AND FURTHER AUTHORIZING THE SAID
TREASURER TO DELEGATE TO A DEPUTY THE CARRYING OUT OF ANY SUCH
TASKS.
WHEREAS, Government Code Section 53601 et seq. sets forth the investments that
the District may lawfully make; and
WHEREAS, Government Code Section 53646(a)(2) sets forth that the District's
Treasurer may annually render to the Board of Directors a Statement of Investment Policy at a
public meeting for the Board to consider; and
WHEREAS, The Board has reviewed the Statement of Investment Policy; and
WHEREAS, Government Code Section 53607 allows the Board to delegate the
authority to make investments and to sell or exchange securities for a one year period to the
Treasurer, provided that monthly reports are thereafter made of the status of said transactions.
NOW, THEREFORE, the Board of Directors does hereby resolve:
1. That the Statement of Investment Policy for fiscal year 2016-17 is approved.
2. That the Treasurer is authorized to make investments consistent with said Policy
and is required to provide a written report to the Board on a monthly basis and
verbal report to the Board on a quarterly basis on the status of those transactions.
The Treasurer is hereby given all of the authority provided by Government Code
Section 53607, including the power to invest and reinvest and the power to sell or
exchange securities, consistent with the District's policy.
3. That the Treasurer may delegate some part of these duties to a deputy provided that
the Treasurer remains responsible for such decisions and provides oversight.
PASSED and ADOPTED on this 23rd day of June 2016.
CLQ
Secretary, Costa Mesa anitary District Pr- 'ident, Costa esa Sanitary District
Board of Directors Board f Directors
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF COSTA MESA )
I, Noelani Middenway, Clerk of the Costa Mesa Sanitary District, hereby certify that the
above and foregoing Resolution No. 2016-889 duly and regularly passed and adopted by said
Board of Directors at a regular meeting thereof held on the 23rd day of June 2016 by the
following vote:
AYES: Scheafer, Perry, Ooten, Schafer, Ferryman
NOES: None
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
Costa Mesa Sanitary District, this 23rd day of June 2016.
A.A Afk I A PI
oel:ni Mid• -nw.
Clerk of the Cos - es. anitary District