HomeMy WebLinkAboutCC RESO 97-110RESOLUTION NO. 97-110
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
APPROVING THE CITY OF NATIONAL CITY
INVESTMENT POLICY
WHEREAS, Policy Number 203 of the City Council Policy Manual
provides that the City's investment policy shall be reviewed annually to ensure its
consistency with the overall objectives of preservation of principal, liquidity, and return,
and its relevance to current law and financial and economic trends; and
WHEREAS, the City Treasurer and Director of Finance have prepared for
review and approval by the City Council amendments to Policy Number 203 of the Policy
Manual; and
WHEREAS, said Policy, as amended, is intended to provide guidelines for
the prudent investment of the City's temporary idle cash, to outline the policies for
maximizing the efficiency of the City's cash management system, and to enhance the
economic condition of the City while insuring the safety of funds invested.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of National City does hereby approve Policy Number 203 of the City Council Policy
Manual, as amended.
PASSED and ADOPTED this 26th day of August, 1997.
George Kg Waters, Mayor
A11 EST:
4i
Mi hael R. D la
Ci
ty Clerk
APPROVED AS TO FORM:
George H. Eiser, III
City Attorney