1995 10 11 IAB Minutes INVESTMENT ADVISORY BOARD
MINUTES
October 11, 1995
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 Brown, Irwin, Osborne, Rodriguez and Sales
ABSENT: *Board Member Lewis
OTHERS PRESENT: John Falconer, Finance Director and Debbie DeRenard,
Secretary
*Excused
II CONFIRMATION OF AGENDA - Confirmed
III PUBLIC COMMENT- None
IV CONSENT CALENDAR
A. Approval of Minutes of September 13, 1995 Investment Advisory Board
Meeting.
MOTION -It was moved by Board Members Sales/Frame to approve the
minutes of September 13, 1995 as submitted. Motion carried unanimously.
V BUSINESS SESSION
A. Transmittal of Treasury Report dated August 30, 1995.
MOTION - It was moved by Board Members to receive, accept and file the
Treasury Report dated August 30, 1995. Motion carried unanimously.
Investment Advisory Board October 11, 1995
Minutes
VI BOARD MEMBER COMMENTS
Action Item
Board Member Osborne requested a list of available permissible investment
vehicles for the bond indenture.
Action Item
Board Member Frame requested examples of permissible investments and current
rates.
VII INFORMATIONAL iTEMS
A. LAIF Monthly Statement- July 1995
Noted & Filed.
B. Broker/Dealer Questionnaire
Mr. Falconer advised that he developed a broker/dealer questionnaire. He
advised that because of the detail, the questionnaires are late being
returned. Once the questionnaires are completed and returned, the
Investment Advisory will receive a copy.
Mr. Falconer advised that Chairman Lewis requested a copy of the
broker/dealer questionnaire sent to First Tennessee Bank. He further
advised that he researched the investment policy and it restricts
broker/dealer offices to the State of California. Chairman Lewis and First
Interstate of Tennessee have been made aware of this.
Mr. Falconer advised that a response was received on Monday from
International Securities Group.
Investment Advisory Board October 11, 1995
Minutes
C. CSMFO - October 20, 1995 Luncheon
Mr. Falconer advised that anyone that will attend the meeting should contact
Debbie DeRenard.
VIII ADJOURNMENT
MOTION - It was moved by Board Members Osborne/Frame to adjourn the
meeting. Motion carried unanimously.