Reso 1998-611RESOLUTION NO. 98 -G 11
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA
SANITARY DISTRICT, ADOPTING THE 1998 -99 STATEMENT OF INVEST-
MENT POLICY, AND AUTHORIZING THE TREASURER TO INVEST AND
REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT IN
ACCORDANCE WITH THE 1998 -99 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 attached 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 111h day of June, 1998.
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF ORANGE
CITY OF COSTA MESA )
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Pr dent Costa Mesa Savqary District
Board of Direc rs
I, JOAN REVAK, Clerk of the Costa Mesa Sanitary District, hereby certify that the -above and
foregoing Resolution No. 98 -611 was duly and regularly passed and adopted by said Board of
Directors at a regular meeting thereof held on the 11th day of June, 1998.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the. Costa
Mesa Sanitary District, this l It" day of June, 1998.
Clerk of th osta Mesa Sanitary District