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Reso 1999-625RESOLUTION NO. 99 -625 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT AUTHORIZING THE DISTRICT'S TREASURER TO INVEST DISTRICT FUNDS IN THE ORANGE COUNTY INVESTMENT POOL WHEREAS, Government Code Section 53530 -53683 authorizes the District's Treasurer to open and maintain accounts in certain qualifying depositories; and WHEREAS, state law and the District Operations Code Section 4.03.010 requires the District to have an Investment Policy Statement that shall authorize the types of investments allowed; and WHEREAS, the District has established that any investment vehicle shall be evaluated with safety as the first consideration, liquidity as the second consideration, and yield as the third consideration; and WHEREAS, the District is required to invest its funds in accordance with the "prudent man" rule; and WHEREAS, the Orange County Investment Pool is administered by the County Treasurer and said Treasurer has demonstrated a prudent investment strategy since his election after the Orange County Bankruptcy; and WHEREAS, investment in the Orange County Investment Pool would be in compliance with the District's Investment Policy Statement; and WHEREAS, the Board has considered the District Treasurer's recommendations on the appropriateness of the investment of District funds in the Orange County Investment Pool; NOW, THEREFORE, the Board of Directors of the Costa Mesa Sanitary District does hereby resolve and determine: i That it has reviewed the factors specified in its Investment Policy Statement and has determined that the Orange County Investment Pool would be an appropriate investment fund for District money and does hereby authorize the District Treasurer to invest such sums as he shall determine are appropriate in said Orange County Investment Pool. PASSED and ADOPTED on this /a day of 1999. Secretary : osta Mesa Sanib,ry District Board- of.___ irectors President, Costa Mesa Sanitary Board of Directors 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. 99 -625, was duly and regularly passed and adopted by said Board of Directors at a regular meeting thereof held on the ai day of _ 1999. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Costa Mesa Sanitary District, this /a day of 1999. Clerk 6T,t, 7 Costa Me,Sanitary District f