1994 04 13 IAB Minutes INVESTMENT ADVISORY BOARD
MINUTES
APRIL 13, 1994
I CALL TO ORDER
Regular meeting of the La Quinta InveStment Advisory Board was
called to order at the hour of 5:30 P.M. by Vice-Chairman Brown,
followed by the Pledge of Allegiance.
PRESENT: Board Members Gilreath, Sales and Vice-
Chairman Brown
ABSENT: Board Member Wilson and Chairman Lewis
OTHERS PRESENT: Richard Parzonko, Finance Director and Debbie
DeRenard, Secretary
II PUBLIC COMMENT
Vice Chairman Brown stated she is surprised that there is no
one from the Community that has an interest in attending the
Investment Advisory Board meetings. She further stated that
if someone from the Community would want to attend and they
came to City Hall and found the doors locked, would this be a
concern.
Mr. Parzonko noted her concern and advised that he would speak
to the City Manager and find a solution.
III CONSENT CALENDAR
A. Approval of Minutes from the meeting of March 8, 1994.
MOTION - It was moved by Board Members Sales/Gilreath to
approved the minutes of March 8, 1994 as submitted.
Motion carried unanimously.
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Minutes
IV BUSINESS SESSION
A. Transmittal of Treasurer's Report Dated January 31, 1994
continued from the March 8, 1994 meeting.
Vice Chairman Brown advised that she requested that this
item be continued. The additional information requested
was included for this item. She advised that for the
record she would like more information on the
condemnation proceedings and how they are initiated.
Mr. Parzonko advised that he would research the process
and provide the Board with the information before the
next meeting.
MOTION - It was moved by Board Members Gilreath/Sales to
accept the Treasurers Report Dated January 31, 1994.
Motion carried unanimously.
B. Transmittal of Treasurer's Report Dated February 28,
1994.
Vice Chairman Brown advised that she would like
additional information for Check Nos. 17608, 17703,
17713, 17.751, 17759, 17766, 17767, 17786 and 17818 that
were issued by the City and have cleared the Bank.
Mr. Parzonko advised that he would provide the
information for the Board before the next meeting.
MOTION - It was moved by Board Members Sales/Gilreath to
approve the Treasurers Report dated February 28, 1994.
Motion carried unanimously.
C. Continued Consideration and Discussion of a Specific Task
Outline.
Vice Chairman Brown advised that at the last Board
meeting the Board agreed to come to a decision regarding
a task outline.
Vice Chairman Brown recommended that at the next meeting
the Board review the Investment Policy in its present
state, and make revision where needed.
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Minutes
Mr. Parzonko advised that he would forward samples of
investment policies from other agencies to the Board.
MOTION - It was moved by Board Members Sales/Gilreath
that the Finance Director provide the Board with samples
of other agencies before the next Board meeting and
recommendations for the future. Motion carried
unanimously.
V STUDY SESSION - None
VI BOARD MEMBER COMMENTS - None
VII OTHER - None
VIII ADJOURNMENT
MOTION - It was moved by Board Members Gilreath/Sales to
adjourn the meeting at 6:30. Motion carried unanimously.