Reso 2003-67211 " '
RESOLUTION NO. 2003-672
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA
SANITARY DISTRICT, ADOPTING THE 2003 -2004 STATEMENT OF
INVESTMENT POLICY, AND AUTHORIZING THE TREASURER TO INVEST
AND REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT
IN ACCORDANCE WITH THE 2003-2004 STATEMENT OF INVESTMENT
POLICY, AND AUTHORIZING THE SAID TREASURER TO DELEGATE TO HIS
DEPUTY THE CARRYING OUT OF ANY SUCH TASKS.
THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT
DOES HEREBY RESOLVE AS FOLLOWS:
WHEREAS, Government Code Section 53601 sets forth the investments that the
District may lawfully make; and
WHEREAS, Government Code Section 53646 sets forth that the District's
Treasurer shall 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 authorizes 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 of the Costa Mesa Sanitary District
does hereby resolve as follows:
1. That the Statement of Investment Policy is approved.
2. That the Treasurer is authorized to make investments consistent with said
Policy and is required to report to the Investment Oversight Committee and Board on a
monthly 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.
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3. That the Treasurer may delegate some part of these duties to his deputy
provided that the Treasurer remains responsible for such decisions and
provides oversight.
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 2003.
ATTEST:
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Sec ary,lostaMesa- Saiary District
:Board of Directors
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
COSTA MESA SANITARY DISTRICT)
President, Costa Mesa Sanitary District
Board of Directors
I, JOAN REVAK, Clerk of the Costa Mesa Sanitary District, hereby certify
that the above and foregoing Resolution No. 2003-672 was duly and regularly
passed and adopted by said Board of Directors at a regular meeting thereof held on
the 12th day of June 2003.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal
of the Costa Mesa Sanitary District this 12th day of June 2003.
Clerk- _ ° the `Casta']'Ao.sa Sanitary District
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