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Reso 1995-575RESOLUTION NO. r:ng 7.r A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT, AUTHORIZING THE TREASURER TO INVEST AND REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT IN ELIGIBLE SECURITIES AND TO SELL OR EXCHANGE SECURITIES PURCHASED, AND AUTHORIZING SAID TREASURER TO DEPOSIT SUCH SECURITIES FOR SAFEKEEPING IN DESIGNATED BANKS AND SAVINGS AND LOANS, AND AUTHORIZING THE SAID TREASURER TO DELEGATE 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 1995 -96 Statement of Investment Policy as set forth in the attached document. The Assistant Manager /Clerk of the District shall certify to the passage and adoption of this resolution, and it shall thereupon be in full force and effect. i PASSED AND ADOPTED this 1.3 t1, day of QzZ4. 1995. J. L" -M. / PreAdent of the Board of ectors of thh Costa Mesa Sanitary District Secretary, Costa Mesa Sanitary District Board STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF COSTA MESA ) I, FLORINE T. REICHLE, Assistant Manager /Clerk of the Costa Mesa Sanitary District, hereby certify that the above and foregoing Resolution No.9r - -sit was duly and regularly passed and adopted by said Board of Directors at a regular meeting thereof held on the 13 tf- day of _�,�, 1995. IN WITNESS WHEREOF I have hereunto set my hand and affixed the seal of the Costa Mesa Sanitary District, this Iq 4'day of , 1995. Assistant Manager /Clerk of the Costa Mesa Sanitary District 2