HomeMy WebLinkAboutR-10641 Delegation of Investment Authority to City Treasurer for 2015-16 Fiscal YearRESOLUTION NO. 10641 (2015 Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, EXTENDING THE DELEGATION OF
INVESTMENT AUTHORITY TO THE CITY TREASURER THROUGH
THE 2015 -16 FISCAL YEAR
WHEREAS, it is the policy of the City of San Luis Obispo for the Director of Finance &
Information Technology to concurrently hold the position of City Treasurer; and
WHEREAS, the City Council has previously delegated the responsibility for making
investment decisions to the City Treasurer in accordance with California Government Code
Section 53607; and wishes to extend the period of time for an additional year; and
WHEREAS, the City Council has reviewed the outcome of the City Treasurer's
investment decisions and now desires to extend the delegation of investment authority to the
2015 -16 Fiscal Year.
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The above recitals are true and correct.
SECTION 2. The City Council hereby extends the delegation of duties related making
investments on behalf of the City to the City Treasurer for the 2015 -16 Fiscal Year.
SECTION 3. The City Clerk shall cause a certified copy of this Resolution confirming
the delegation of investment authority to be forwarded to the City Treasurer.
Upon motion of Council Member Christianson, seconded by Vice Mayor Ashbaugh, and
on the following roll call vote:
AYES: Council Members Carpenter, Christianson, and Rivoire,
Vice Mayor Ashbaugh, and Mayor Marx
NOES: None
ABSENT: None
R 10641
Resolution No. 10641 (2015 Series)
The foregoing resolution was adopted this 23rd day of June, 2015.
�1, M4"
Mayor J arx
ATTEST:
APPROVED AS
hristine Dietrick
City Attorney
Page 2
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this '7_n J day of j „ k Zo 15�