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Reso 2008-753RESOLUTION NO. 2008 -753 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT ADOPTING A STATEMENT OF INVESTMENT POLICY FOR FISCAL YEAR 2008 -09, AND AUTHORIZING THE TREASURER TO INVEST AND REINVEST IDLE MONIES OF THE COSTA MESA SANITARY DISTRICT IN ACCORDANCE WITH THE STATEMENT OF INVESTMENT POLICY, AND FURTHER AUTHORIZING THE SAID TREASURER TO DELEGATE TO A DEPUTY THE CARRYING OUT OF ANY SUCH TASKS. WHEREAS, Government Code Section 53601 et seq. sets forth the investments that the District may lawfully make; and WHEREAS, Government Code Section 53646(a)(2) sets forth that the District's Treasurer may 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 Statement of Investment Policy; and WHEREAS, Government Code Section 53607 allows 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 for fiscal year 2008 -09 is approved. 2. That the Treasurer is authorized to make investments consistent with said Policy and is required to report to the Board on a monthly basis and to the Investment Oversight Committee on a quarterly 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 a deputy provided that the Treasurer remains responsible for such decisions and provides oversight. 1 PASSED AND ADOPTED this aday of 2008, by the following vote: AYES: NOES: ABSTENTIONS: ABSENT President of the Board STATE OF CALIFORNIA) COUNTY OF ORANGE ) SS CITY OF COSTA MESA ) 0�rl M41 Secretary of the Board I, Joan Revak, Clerk of the Costa Mesa Sanitary District, hereby certify that the above and foregoing Resolution No. 2008 -753 duly and regularly passed and adopted by said Board of Directors at a regular meeting thereof held on the a3U day of G. 2008. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Costa Mesa Sanitary District, this day of 2008. Qg� Lzk= Clerk oft e Costa Mesa Sanitary District 2