1995 11 08 IAB Minutes INVESTMENT ADVISORY BOARD
MINUTES
November 8, 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 Chairman Lewis, followed by the Pledge of Allegiance.
PRESENT: Board Members Brown, Irwin, Rodriguez, Sales and Chairman
Lewis
ABSENT: *Board Member Frame and Osborne
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 October 11, 1995 Investment Advisory Board
Meeting.
MOTION -It was moved by Board Members Sales/Irwin to approve the
minutes of the October 11, 1995 Investment Advisory Board as submitted.
Motion carried unanimously.
V BUSINESS SESSION
A. Transmittal of Draft Treasury Report for September 30, 1995.
Mr. Falconer advised that the Treasury Report has not been reviewed/
approved by City Council. He advised that if there are any changes, the
changes can be incorporated in the final report.
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Investment Advisory Board November 8, 1995
Minutes
MOTION -It was moved by Board Members Brown/Sales to accept, receive
and file the Treasury Report for September 30, 1995. Motion Carried
unanimously.
VI BOARD MEMBER COMMENTS - None
VII INFORMATIONAL ITEMS
A. Pricing of 1995 Low/Moderate Income Housing Bond Issue.
Noted & Filed.
B. LAIF Management Fees
Noted & Filed.
C. Official Statement
Mr. Falconer advised the Board Member Frame was interested in the recent
bond issue. He further advised that there are copies on hand of the Official
Statement for the Boards review.
Mr. Falconer advised that excerpts from the Bond Indenture between the City
of La Quinta Redevelopment Agency and First Interest Bank that disclose
investment policies on this Bond issue are attached.
D. Mutual Fund Interest Rates
Noted & Filed.
Investment Advisory Board November 8, 1995
Minutes
VIII ADJOURNMENT
MOTION - It was moved by Board Members Irwin/Sales to adjourn-the meeting.
Motion carried unanimously.