HomeMy WebLinkAboutReso 2015-041 RESOLUTION NO. ZO15-041
RESOLUTIOI�' OF THE CITI' COU1`'CIL OF THE CITY OF
CHULA VISTA ACICl�'O�'LEDGII�'G RECEIPT OF COUlVCIL
POLICI' NO. 220-01. "CHE CITY OF CHCiLA VISTA
11�'VESTA4EI�'T POLICY AI�'D GUIDELII�'ES: ?.A4EI�'DING
THE EXISTII�'G POLICI': A?�'D DELEGATING I?vVESTME\'T
ACTIVITY AliTHORITl' TO THE DIRECTOR OF
FII�'ANCE/TREASliRER
�1'HEREAS. the Citv of Chula Vista's "Investment Polic} and Guidelines," adopted on
October 28. 2014, b�� Resolution No. 2014-191 (the Polic��). is intended to provide direction for
the prudent investment of temporarih� idle cash and to ma�imize the e�ciencv of the cash
manaeement process; and
�'HEREAS. the stated eoal of the Policv is to enhance the economic condition of the
Cit�� ���hile ensurins the safetv of funds invested: and
l�'HEREAS. the Policv includes a list of specific im�estment instruments available
pursuant to Califomia Govemment Code sections �3600, et. seq. and �36.i�; and
WHEREAS. each imestment transaction is made in the conteat of first ensurina the
`�safet�� ` of principal. second, investinR onh- for that timeframe that the cash is not needed for
operational purposes ('liquidit}� `), and last seekine the highest rerum possible ("}�ield") pro�ided
that the first tti�o factors are met: and
VdHEREAS. in accordance �ti�ith Section 18.0 of the Policv, staff has provided the Citv
Council ��ith a copy of the City`s Investment Policy: and
�VHEREAS, staff recommends that Section �.1 (Personal Responsibilih�) of the Polic}� be
amended to reflect a change in duties b�� replacing "Associate Accountanr' with "Finance
Manaeer': and
l�'HEREAS. Cin� staff recommends that the Policv be amended to reflect these chanses:
and - - _
WHEREAS. pursuant to Califomia Go��ernment Code section �3607; the Cit}� Council
ma�� deleeate the authoritv to conduct investment activities of the Cit�- to the Finance
Director/Treasurer on an annual basis.
NOVJ. THEREFORE. BE IT RESOLVED b�� the Cit�= Council of the Citv of Chula Vista
that the Direcfor of Finance/Treasurer is dele_ated the authoriri to conduct and supen�ise the
in��estment activities of the Cit��.
Resolution No. 201�-041
Page No. 2
BE IT FURTHER RESOLVED that the City Council of the City of Chula Vista does
hereb�� amend the City Im-estment Policy and Guidelines by amending Section 4.1, in the form
presented to the Cit�� Council, a copy of which shal] be kept on file in the Office of tt�e City
Clerk.
Presented by Approved as to form by
" --� •
Maria Cachadoorian G n R. ogins
Deputy City Manager/CFO C y Atto y
PASSED; APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 3rd day of March 201� by the following ��ote:
AYES: Councilmembers: Aguilar, Bensoussan, Miesen and Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: McCann
Mary S as, Mayor
ATTEST:
�� � ��
Donna R. Norris, MC. City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2015-041 was duly passed, approved, and adopted by the City Counci] at a
regular meeting of the Chula Vista City Council held on the 3rd day of March 2015.
Gaecuted this 3rd dav of March 2015.
��/ � ,/� �(
Donna R. Norris, CMC, City Clerk