Reso 2017-900 RESOLUTION NO. 2017-900
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY
DISTRICT ADOPTING A STATEMENT OF INVESTMENT POLICY FOR FISCAL YEAR 2017-
18, 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 2017-18 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 22nd day of June 2017.
I
Se retary, Costa Mesa S. nitary District Preside t, Costa Mei,: Sanitary District
Board of Directors Board of D' ectors
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. 2017-900 was duly and regularly passed and
adopted by said Board of Directors at a regular meeting thereof held on the 22 day of
June, 2017 by the following vote:
AYES: Scheafer, Ferryman, Schafer, Ooten, Perry
NAYES: None
ABSTAIN: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
Costa Mesa Sanitary District, this 22 day of June 2017.
iJ4rla
o-Tani ' =nway
Clerk of the Costa esa Sani ary District