1999 10 13 IAB Minutes INVESTMENT ADVISORY BOARD
Meeting
October 13, 1999
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 Chairperson Osborne, followed by the Pledge of Allegiance.
PRESENT: Board Members Irwin, Lewis, Mahfoud, Moulin, Olander
and Chairperson Osborne
ABSENT: Board Member Bulgrin
OTHERS PRESENT: John Falconer, Finance Director and Debbie DeRenard,
Secretary
II PUBLIC COMMENT- None
III CONFIRMATION OF AGENDA
Mr. Falconer requested that a revised Treasurers Report be added to the
agenda. The Board concurred.
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on September 8, 1999 for the
Investment Advisory Board.
MOTION - It was moved by Board Members Lewis/Moulin to approve the
Minutes of September 8, 1999. Motion carried unanimously.
V BUSINESS SESSION
A. Transmittal of Treasury Report for August 1999
Mr. Falconer advised that there was a difference of $3000.00 in the
mutual funds/amortization on Page 3 of the Treasurer's Report. The
change has been made and is reflected on the revised Treasurers Report.
Investment Advisory Board September 8, 1999
Minutes
MOTION - It was moved by Board Members Lewis/Irwin to review,
receive and file the Treasurers Report for August 1999. Motion carried
unanimously.
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report - September 1999
Mr. Falconer advised that as an information item, he could add three
month and six month interest rates.
Board Member Moulin commented that the interest rates would be
helpful.
Mr. Falconer advised that the rates would be included in the November
report.
B. Pooled Money Investment Board Reports - July 1999
In response to Board Member, Mr. Falconer advised that he would
contact Pat Beal with LAIF and bring back information to the Board
regarding LAIF's policy on investing in Commercial Paper.
C. Distribution of Board, Commission & Committee Updates
Noted and Filed.
VIII BOARD MEMBER ITEMS
Board Member Irwin spoke regarding the City's accounting for investments.
Investment Advisory Board September 8, 1999
Minutes
IX ADJOURNMENT
MOTION - It was moved by Board Members Irwin/Lewis to adjourn the meeting
at 6:00 p.m.. Motion carried unanimously.
Submitted by,
Debbie DeRenard
Secretary