HomeMy WebLinkAboutCC RES 2019-42RESOLUTION NO. 2019- 42
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA DECLARING ITS INTENTION TO APPROVE
BYLAWS AND RENAME THE AUDIT, INVESTMENT, AND FINANCE,
COMMITTEE TO THE FINANCE COMMITTEE
The City Council of the City of Palm Desert, California (hereafter referred to as the
"City Council") Hereby Finds, Determines, Resolves, and Orders as follows:
WHEREAS, by prior Ordinance No. 59, the City Council of the City of Palm Desert
determined and declared that there is a need for an investment committee to function in the
city and established the Palm Desert Investment Committee; and,
WHEREAS, by prior Ordinance No. 1105, the name of the Palm Desert Investment
and Finance Committee was changed to the Palm Desert Audit, Investment, and Finance
Committee; and,
WHEREAS, the Palm Desert Audit, Investment and Finance Committee desires to
adopt bylaws, simplify the name of the committee to the Finance Committee, and identify
the responsibilities of the committee by resolution.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED, AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, AS FOLLOWS:
Section 1. That the above recitals are true and correct and constitute the findings
of the City Council in this case.
Section 2. The bylaws of the Finance Committee, attached hereto as Exhibit A,
are hereby approved and adopted as the official bylaws of the committee.
PASSED, APPROVED, AND ADOPTED this 27th
the following vote to wit:
day of June
AYES: HARNIK, JONATHAN, KELLY, NESTANDE, AND WEBER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ATTEST:
4111...1.. 1111*
RA - EL D. LA EN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
, 2019 by
SUSAN MARIE WEBER, MAYOR
RESOLUTION NO. 2019-42
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Resolution No. 2019-42
Exhibit "A"
Palm Desert Finance Committee
Bylaws
Article I — Name. This committee is called the Finance Committee (previously known as
the Audit, Investment, and Finance Committee, or the Investment Committee).
Article II — Powers and Duties. The Finance Committee reviews and, if necessary,
advises the city council on: 1) auditing and internal controls; 2) financial reporting; 3)
investments; 4) municipal debt and refunding; and 5) such other functions as the city
council may request.
Article III — Members. The Finance Committee has up to seven members: two city
council members appointed by the mayor and up to five community members appointed
by the city council by majority vote. Community members serve staggered four-year
terms.
Article IV — Officers. The Finance Committee has two elected officers: the chair and
the vice -chair. The chair conducts all meetings. If the chair is absent, then the vice -chair
acts as chair. If the chair and the vice -chair are absent, then the committee appoints a
committee member to act as provisional chair.
Article V — Meeting Notice. Regular meetings are noticed by posting an agenda at least
72 hours (three business days) before meetings (Cal. Gov't Code section 54954.2(a)).
Special meetings are noticed by posting an agenda at least 24 hours (one business day)
before meetings (Cal. Gov't Code section 54956). Emergency meetings can be called if
dire circumstances threaten public health or safety, as long as one -hour notice is given
to media if requested (Cal. Gov't Code section 54956.5).
Article VI — Meetings. The Finance Committee meets at least once a quarter, but may
meet more frequently by majority vote of the committee, subject to availability of
unscheduled space. All Finance Committee meetings are held at Palm Desert City Hall.
A quorum is established if a simple majority of committee members are present.
Article VIl — Voting. All committee motions are approved by majority vote. If there is a
tie vote with no abstentions, then the vote is recorded as a tie (no action). A subsequent
motion may be offered and acted upon before finalizing the consideration of the item.
Article VIII — Subcommittees. The city council or the city manager can direct the
Finance Committee to create an ad hoc subcommittee to study an issue. The
subcommittee will report its findings and recommendations to the Finance Committee.
Article IX — Bylaws Amendment. The city council can amend the Finance Committee
bylaws by majority vote.
G:IFinancelNiamh Ortegallnvestment CommitteelStaff ReportsAdoption of bylaws 0520191BYLAWS-Finance Committee
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