HomeMy WebLinkAboutR-8523 Approving the Investment Management Plan^11
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RESOLUTION NO. 8523 (1996 SERIES)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO
APPROVING THE INVESTMENT MANAGEMENT PLAN
WHEREAS, as set forth in the Statement of Investment Policy, the City Treasurer is
responsible for developing and monitoring an investment management plan to guide
administration of the City's portfolio, including investment strategies, practices and procedures;
and
WHEREAS, given legitimate public concerns regarding the stewardship of funds arising
from the unprecedented losses recently experienced by the Orange County investment pool,
formal approval of the investment management plan by the Council is recommended in order
to provide a broader awareness and understanding of the strategic framework, policy guidelines,
and administrative practices followed in managing the City's investments.
NOW THEREFORE BE IT RESOLVED by the Council of the City of San Luis Obispo
that the investment management plan dated April 1996 is hereby adopted.
On motion of Council Member Smith , seconded by Council Member Williams,
and on the following roll call vote:
AYES': Council Members Smith, Roalman, Romero, Williams, Mayor Settle
NOES: None
ABSENT: None
the foregoing resolution was adopted this 16 day of Aril 1996.
Tim K. Settle
by Asst. City Clerk Kim Condon
APPROVED AS TO FORM:
R8523
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