HomeMy WebLinkAboutCC RES 96-05���-��7
RESOLUTION NO. 96-5
A RESOLUTION OF T� CITY COUNCIL OF TT�
CITY OF PALM DESERT, CALIFOIZNIA, AMENDING
TI-� POLICY FOR TfiE INVESTMENT OF CITY OF
PALM DESERT FUNDS.
WHEREAS, Section 53646 of the State of California Government Code has been
amended to require the annual review and adoption of an investment policy statement; and
WHEREAS, said inves�nnent policy has been written in compliance with all applicable
laws and in accordance with guidelines provided by the Municipal Treasurer's Association of the
United States and Canada; and
WHEREAS, the City of Palm Desert Finance Investment Committee comprised of the
Mayor, City Manager, Finance Director and other members of City Staff and citizens at lazge,
have reviewed and approved the proposed policy;
NOW AND TI�REFORE, BE IT RESOLVED by the City Council of the City of Palm
Desert, California, as follows:
1. That the policy statement attached hereto as Exhibit "A" is adopted; and
2. That the policy be examined and considered for readoption each January.
PASSED, APPROVED, and ADOPTED at a regular meeting of the Palm Desert City
Council held of this l lth day of January, 1996, by the following vote, to wit:
AYES: Benson, Crites, Kelly, Snyder
NOES: None
ABSENT: Spiegel
ABSTAIN: None
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WALTER H. SNYDER. MA, OR