HomeMy WebLinkAboutReso 2014-191 RESOLUTIO?�' NO. 2014-191
RESOLUTION OF THE CITY COUI`'CIL OF THE CITY OF
CHUL.A VISTA AMENDII`'G COUI�'CIL POLICY NO. 220-01.
THE C17Y OF CHULA VISTA I?vVESTA4ENT POLICY ��'D
GUIDELII�'ES
WHEREAS, the Cin- of Chula Vista s Investment Polic}� and Guidelines (`Investment
Policd`); adopted on A�(azch 11: 2014: b}� Resolution No. 2014-039, is intended to pro�ide
d'uection for the prudent im�estment of temporaril�� idle cash and to ma�imize the efficienc� of
the cash manaeement process; and
WIIEREAS. the stated eoal of the Investment Polic�� is to enhance the economic
condition of the Cin�ufiile ensurine the safetv of funds invested: and
l�'HEREAS, the Investment Polic}� indudes a list of specific investment instrumenu
available pursuant to Califomia Go��emment Code sections �3600. et. sey. and �.i63�; and
I�rHEREAS. each im�estment transaction is made in the context of first ensurina the
"safet}� of principal. second, investine only for that timeframe that the cash is not needed for
operational purposes (`9iquidin�"), and last seeking the hiehest retum possible ("}�ield") provided
that the first two factors aze met: and
W'HEREAS, the Cit}� hired PFA4 Asset Manaeement (PFM) as an In��estment Ad��isor to
the Finance Department; and
WHEREAS, PFA4 conducted a review of the Investment Policv as part of their
eneaeement: and
R�HEREAS. PFA4`s re��ie« of the In��estment Policv eenerated recommend chanses to
the Investment Policv to increase the f7exibilin� of the Cit���to be able to tal:e advantaee of
additional im�estment opportunities H�hole still maintaining the safety and liquidit}� of the
im estment portfolio. and
WHEREAS. the recommended chanees ��ill enhance the oreanization and clarit�� of the
In��estment Polic��. �
\'OV�'; THEREFORE, BE IT RESOLVED that the Cit�� Council of the Cin� of Chula
Vista does herebv appro��e the Cin�`s Im�estment Polic}� and Guidelines, as amended in sections
2.0, �.3. 6.0. 7.0. 8.0; 9.0; 13.0, 14.0, 1>.0; 16.0; 18.0 and the Glossarv, in substantially the form
presented to the Cin� Council, a cop}� of ���hich shall be kept on file in the Office of the Cit��
Clerk.
Resolution No. 2014-191
Page No. 2 �
Presented by Approved as to form by
�
Maria :achadoorian Glen R. Go gins
Deput}� City Manager/CFO �ty-�1t ey
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista;
California, this 28th day of October 2014 by the following vote:
AYES: Councilmembers: Aguilar, Bensoussan; Ramirez, Salas and Cox
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
�
Cheryl Cox, M or
ATTEST:
�
Donna R. Noms. Cn C.`E rv Clerk
STATE OF CALIEORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHiJLA VISTA )
1, Donna R. Norris, City Clerk of Chula Vista, Califomia, do hereby certify that the foreeoine
Resolution No. 2014-191 was duly passed, approved, and adopted by the City Council at a
regular meetine of the Chula Vista City Council held on the 28th day of October 2014.
Executed this 28th day of October 2014.
�
Donna R. Norris, MC�ity Clerk