2000 03 08 IAB Minutes INVESTMENT ADVISORY BOARD
Meeting
March 8, 2000
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 Bulgrin, Irwin, Lewis (5:35), Moulin,
Olander and Chairman Osborne
ABSENT: Board Member Mahfoud
OTHERS PRESENT: John Falconer, Finance Director and Debbie DeRenard,
Secretary
II PUBLIC COMMENT- None
III CONFIRMATION OF AGENDA- Confirmed
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on February 9, 2000 for the Investment
Advisory Board.
In response to Board Member Olander, Chairman Osborne advised that
the Board reviewed and filed the audit report. He further advised that
the Council receives the minute of the Investment Advisory Board
meetings and they are aware of the proceedings.
Board Member Olander complimented staff on the audit report.
MOTION - It was moved by Board Members Irwin/Moulin to approve the
Minutes of February 9, 2000. Motion carried unanimously.
Investment Advisory Board March 8, 2000
Minutes
V BUSINESS SESSION
A. Transmittal of TreasUry Report for January 2000
Board Member Irwin commented on the staff report advising that it
would be of benefit to the Board when other purchases were acquired.
MOTION - It was moved by Board Members Lewis/Olander to review,
receive and file the Treasurers Report for January 2000. Motion carried
unanimously.
B. Consideration of Fiscal Year 2000/01 Investment Policy
Mr. Falconer advised that at the June meeting the Board will meet with the
City Manager and City Attorney to review the Boards recommendations to the
City Council. Staff would like to request that the Investment Policy changes
for recommendation to the Council be approved by the Investment Advisory
Board before the June meeting.
The Board reviewed the attached Investment Policy (Attachment No. 1) and
changes/additions/deletions are shown in amended form.
MOTION -It was moved by Board Members Lewis/Irwin to continue the
consideration of Fiscal year 2000/01 Investment Policy. Motion carried
unanimously.
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report- February 2000
Noted and Filed
B. Pooled Money Investment Board Reports - December 1999
Noted and Filed
Investment Advisory Board March 8, 2000
Minutes
VII BOARD MEMBER ITEMS - None
VIII ADJOURNMENT
MOTION - It was moved by Board Members Moulin/Lewis adjourn the meeting
at 7:05 p.m.. Motion carried unanimously.
Submitted by,
Debbie DeRenard
Secretary