Res FA-701
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RESOLUTION NO. FA-70
A RESOLUTION OF THE PALM DESERT FINANCING AUTHORITY
APPROVING THE PALM DESERT STATEMENT OF INVESTMENT POLICY,
AS AMENDED
WHEREAS, pursuant to California Government Code section 53646, the treasurer has
proposed a Statement of Investment Policy for consideration by the Palm Desert Financing
Authority (hereafter referred to as the "Financing Authority"), which is attached hereto, and
incorporated herein by reference; and
WHEREAS, pursuant to Palm Desert Municipal Code section 3.08.020, the Financing
Authority Board has delegated the authority to invest all public funds that the Financing Authority
holds, to the treasurer.
NOW, THEREFORE BE IT RESOLVED, by the Financing Authority, as follows:
Section 1. The Palm Desert Statement of Investment Policy is hereby approved and
adopted.
Section 2. The authority to invest and reinvest all public funds that the Financing
Authority 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 treasurer.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Palm Desert
Financing Authority, 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
ATTEST:
'GRACE . ROC IA A'T SECRETARY
PALM DESERT FINiT15ING AUTHORITY
-RD.13ERT W'Hf RGfZEAVES, CITY ATTORNEY
BEST, BEST & KRIEG R, LLP
GINA NESTANDE, PRESIDENT
RESOLUTION NO. FA-70
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