Minutes - Investment - 2005-09-14 COSTA MESA SANITARY DISTRICT
MINUTES OF INVESTMENT OVERSIGHT COMMITTEE MEETING
September 14, 2005
CALL TO ORDER The meeting was called to order at 5:30 p.m. by the District Manager, Mr.
Rob Hamers.
ROLL CALL Committee Members Present:
President Art Perry (rotating committee member)
Director Dan Worthington (rotating committee member)
Mr. Rob Hamers, Manager/ District Engineer
Committee Members Absent: None
Staff Members Present:
Ms. Wendy Davis, Treasurer
Ms. Joan Revak, Board Secretary/Clerk of the District
Mr. Tom Fauth, Assistant Manager
Ms. Sherry Kallab, Accountant
NEW BUSINESS Portfolio Liquidity
Ms. Davis discussed the current liquidity needs and the possible need for
the liquidation of an investment prior to maturity to meet the District's cash
flow needs during the next few months when no property tax revenues
are distributed. Any investment sold would probably result in a loss. A
TRAN (Tax and Revenue Anticipation Note) was suggested to prevent
having to sell a security to meet cash flow needs. Discussion followed.
PUBLIC COMMENTS There were no items discussed under public comments
ADJOURNMENT The meeting adjourned at 5:58 p.m.
Approved by:
4i,r-piAnepo,
Secretary, Costa Mesa Sanitary Di rict ,,4 esident, Costa Mes Sanitary District
Board of Directors Board of Directors