Reso 2011-802 CMSD RESOLUTION NO. 2011-802
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA
SANITARY DISTRICT ADOPTING A STATEMENT OF INVESTMENT POLICY
FOR FISCAL YEAR 2011-12, 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 OF THE COSTA MESA
SANITARY DISTRICT DOES HEREBY RESOLVE AS FOLLOWS:
1. That the Statement of Investment Policy for fiscal year 2011-12 is approved.
2. That the Treasurer is authorized to make investments consistent with said Policy
and is required to report to the Board on a monthly basis and to the Investment
Oversight Committee 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.
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PARSED AND ADOPTED this age day.of 2011, by the following vote:
AYES: Robert Ooten, James Ferryman, Michael Scheafer, Art Perry
NOES:
ABSTENTIONS:
ABSENT Jim Fitzpatrick
CL6-tt (Qatt..,
Secretary of the ..'card President of the Board
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF COSTA MESA )
I, Joan Revak, Clerk of the Costa Mesa Sanitary District, hereby certify that the above
and foregoing Resolution No. 2011-802 duly and regularly passed and adopted by said Board
of Directors at a regular meeting thereof held on the 274 day of Q,.� 2011.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
Costa Mesa Sanitary District, this 2,poc.. day of 2011.
Clerk of oCosta-Mesa Sanitary District
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