Reso 2003-677RESOLUTION NO. 2003-677
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA
SANITARY DISTRICT, ADOPTING THE REVISED 2003 -2004 STATEMENT OF
INVESTMENT POLICY, AND AUTHORIZING THE TREASURER TO INVEST AND
REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT IN
ACCORDANCE WITH THE REVISED 2003 -2004 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 adopted an investment policy for fiscal year 2003 -2004 on June
12th, 2003; and
WHEREAS, the Treasurer desires to make certain revisions to the adopted investment
policy; and
WHEREAS, The Board has reviewed the revised 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 Revised 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 10th day of December 2003.
ATTEST:
Se a.. tary District
:`: 'Board of Directors
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
COSTA MESA SANITARY DISTRICT )
QL I'll,
President, Costa Mesa S nitary District
Board of Dire tors
1, JOAN REVAK, Clerk of the Costa Mesa Sanitary District, hereby certify that the
above and foregoing Resolution No. 2003 -677 was duly and regularly passed and
adopted by said Board of Directors at a regular meeting thereof held on the 10th day of
December 2003.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the Costa Mesa Sanitary District this 10th day of December 2003.
Clerk of Costa Mesa S -a itary District