HomeMy WebLinkAboutCC RESO 2000-12RESOLUTION NO. 2000 — 120
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
APPROVING THE CITY OF NATIONAL CITY
INVESTMENT POLICY
WHEREAS, Policy No. 203 of the City Council Policy Manual provides that the
City's investment policy 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 No. 203 of the Policy Manual; and
WHEREAS, said Policy, as amended, is intended to pros ide 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 and funds invested.
WHEREAS, the Finance Director has recommended certain revisions to said
policy.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City does hereby approve revisions to the City's Investment Policy, as recommended by
the Finance Director.
PASSED and ADOPTED this 19th day of September, 2000.
George H. Waters, Mayor
ATTEST:
Mich. -1 R. Dalla, Ci Clerk
APPROVED AS TO FORM:
ram.
George H. Eiser, III
City Attorney