Reso 1997-597'. .k.
RESOLUTION NO. 97 -597
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA
MESA SANITARY DISTRICT, ADOPTING THE 1997 -98 STATEMENT OF
INVESTMENT POLICY, AND AUTHORIZING THE TREASURER TO
INVEST AND REINVEST IDLE MONIES OF THE COSTA MESA
SANITARY DISTRICT IN ACCORDANCE WITH THE 1997 -98
STATEMENT OF INVESTMENT POLICY, AND AUTHORIZING THE
SAID TREASURER TO DELIGATE 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 1997 -98 Statement of Investment Policy as set forth in the attached document.
The Clerk of the District shall certify to the passage and adoption of this resolution, and it
shall thereupon be in full force and effect.
PASSED AND ADOPTED this 12th day of June, 1997.
6
P sident of the Board of irectors
Tsta Mesa Sanitary Di rict
P %';'
ATTEST:
Secretary, Costa Mesa
Board
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
COSTA MESA SANITARY DISTRICT )
I, JOAN REVAK, Clerk of the Costa Mesa Sanitary District, hereby certify that the
above and foregoing Resolution No. 97 -597 was duly and regularly passed and adopted by
said Board of Directors at a regular meeting thereof held on the 12th day of June, 1997.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
Costa Mesa Sanitary District this 12th day of June, 1997.
1�47� Atl-�
Clerk allhe Costa Mesa Sanitary District