Reso 1996-587RESOLUTION NO. �6 - 5 W
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA
SANITARY DISTRICT, ADOPTING THE 1996 -97 STATEMENT OF INVEST-
MENT POLICY, AND AUTHORIZING THE TREASURER TO INVEST AND
REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT IN
ACCORDANCE WITH THE 1996 -97 STATEMENT OF INVESTMENT POLICY,
AND AUTHORIZING THE SAID TREASURER TO DELEGATE TO THE
ASSISTANT DIRECTOR OF FINANCE THE CARRYING OUT OF ANY SUCH
TASKS.
THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT DOES
HEREBY RESOLVE AS FOLLOWS:
WHEREAS, in accordance with Section 53607 of the Government Code of the State of
California, the Treasurer is hereby authorized (a) to invest such portion of any sinking
fund of, or idle money in, the District Treasury, not required for the immediate necessities
of the District as is deemed wise or expedient, in securities in which this Board is
authorized to invest such sums by the provisions of the State Government Code Section
53601 and Section 53635, limited by the District's Investment Policy; and (b) to sell, or
exchange for other eligible securities, and reinvest the proceeds of the securities purchased.
The Treasurer shall make a monthly report of such transactions to this Board.
NOW, THEREFORE, BE IT RESOLVED that the Costa Mesa Sanitary District has
adopted the 1996 -97 Statement of Investment Policy as set forth in the attached document.
The Assistant Manager /Clerk of the District shall certify to the passage and adoption of
this resolution, and it shall thereupon be in full force and effect.
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PASSED AND ADOPTED this day of ±! , 1996.
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?ohe ent of the Board o irectors
Cos ta Mesa Sanitary District
Secretary, Cosfallesa Sanitary
District Board
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, FLORINE T. REICHLE, Assistant Manager /Clerk of the Costa Mesa Sanitary District,
hereby certify that the above and foregoing Resolution No.T4 -5f l was duly and regularly
passed and adopted by said Board of Directors at a regular meeting thereof held on the
/3 day of u-n.v , 1996.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Costa
Mesa Sanitary District, this %L/-t;6 day of , 1996.
Assistant Manager / Clerk of the
Costa Mesa Sanitary District
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