Reso 1999-620iS
RESOLUTION NO. 99 -620
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA
MESA SANITARY DISTRICT, ADOPTING THE 1999 -00 STATEMENT OF
INVESTMENT POLICY, AND AUTHORIZING THE TREASURER TO
INVEST AND REINVEST IDLE MONIES OF THE COSTA MESA
SANITARY DISTRICT IN ACCORDANCE WITH THE 1999 -00
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.
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 July, 1999.
ATTEST:. ;
Secret y, C6uta'Mos& 03'arAary District
Boar& of,Ditectors
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
COSTA MESA SANITARY DISTRICT )
President, Costa Mesa Sanitary
Board of Directors
I, JOAN REVAK, Clerk of the Costa Mesa Sanitary District, hereby certify that the above and
foregoing Resolution No. 99 -620 was duly and regularly passed and adopted by said Board of
Directors at a regular meeting thereof held on the 12th day 'of July, 1999.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Costa
Mesa Sanitary District this 12th day of July, 1999.
Clerk aW,-'Costa Mesa S�idtary District
�r '