HomeMy WebLinkAboutCC RES 2020-79' RESOLUTION NO. 2020-79
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT,
APPROVING THE PALM DESERT STATEMENT OF INVESTMENT POLICY,
AS AMENDED
WHEREAS, pursuant to California Government Code section 53646, the Treasurer of the
City of Palm Desert (hereafter referred to as the "city treasurer") has proposed a Statement of
Investment Policy for consideration by the City Council of the City of Palm Desert, California
(hereafter referred to as the "City Council'), which is attached hereto, and incorporated herein by
reference; and
WHEREAS, pursuant to Palm Desert Municipal Code section 3.08.020, the City Council
has delegated the authority to invest all public funds that the City holds, to the city treasurer.
NOW, THEREFORE BE IT RESOLVED, by the City Council, as follows:
Section 1. The City of Palm Desert Statement of Investment Policy is hereby approved
and adopted.
Section 2. The authority to invest and reinvest all public funds that the City of Palm
Desert holds, and to sell or exchange the securities so purchased, in compliance with the terms of
the approved Statement of Investment Policy, is hereby delegated to the city treasurer.
' PASSED, APPROVED, AND ADOPTED at a regular meeting of the Palm Desert City
Council, held on this 19th day of November, 2020, by the following vote to wit:
AYES: HARNIK, JONATHAN, KELLY, WEBER, and NESTANDE
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE q ��
1�
GINA NESTANDE, MAYOR
ATTEST:
%GRA OCHA, /ACTI G�CITY CLERK
CITY OF PALM D SERT, CALIFORNIA
rAPI ROVED
-RT-W:f� HAREAVES CITY ATTORNEY
, BEST & KRIEGER, t
RESOLUTION NO. 2020-79
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