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Minutes - Investment - 2005-09-14 COSTA MESA SANITARY DISTRICT MINUTES OF INVESTMENT OVERSIGHT COMMITTEE MEETING September 14, 2005 CALL TO ORDER The meeting was called to order at 5:30 p.m. by the District Manager, Mr. Rob Hamers. ROLL CALL Committee Members Present: President Art Perry (rotating committee member) Director Dan Worthington (rotating committee member) Mr. Rob Hamers, Manager/ District Engineer Committee Members Absent: None Staff Members Present: Ms. Wendy Davis, Treasurer Ms. Joan Revak, Board Secretary/Clerk of the District Mr. Tom Fauth, Assistant Manager Ms. Sherry Kallab, Accountant NEW BUSINESS Portfolio Liquidity Ms. Davis discussed the current liquidity needs and the possible need for the liquidation of an investment prior to maturity to meet the District's cash flow needs during the next few months when no property tax revenues are distributed. Any investment sold would probably result in a loss. A TRAN (Tax and Revenue Anticipation Note) was suggested to prevent having to sell a security to meet cash flow needs. Discussion followed. PUBLIC COMMENTS There were no items discussed under public comments ADJOURNMENT The meeting adjourned at 5:58 p.m. Approved by: 4i,r-piAnepo, Secretary, Costa Mesa Sanitary Di rict ,,4 esident, Costa Mes Sanitary District Board of Directors Board of Directors