HomeMy WebLinkAboutR-10809 - EXTENDING THE DELEGATION OF INVESTMENT AUTHORITY TO THE CITY TREASURER THROUGH THE 2017-18 FISCAL YEARRESOLUTION NO. 10809 (2017 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 2017-18 FISCAL YEAR
WHEREAS, it is the policy of the City of San Luis Obispo for the Director of Finance 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
2017-18 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 2017-18 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 Council Member Pease, and on the
following roll call vote:
AYES: Council Members Christianson, Gomez, and Pease
Vice Mayor Rivoire and Mayor Harmon
NOES: None
ABSENT: None
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Resolution No. 10809 (2017 Series) Page 2
The foregoing resolution was adopted this 201h day of June 2017.
/CV
Maya - eidi karmon
ATTEST:
Carrie Gallagher
City Clerk
APPROVED AS TO FORM:
IN WITNESS WHEREOF, I have hereunto set my and and affixed the official seal of the City
of San Luis Obispo, California, this do4h day of mol
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Carrie Gallagher
City Clerk
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