2000 12 13 IAB Minutes INVESTMENT ADVISORY BOARD
Meeting
December 13, 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 Chairman Osborne followed by the Pledge of Allegiance.
PRESENT: Board Members Filice, Le is, Mahfoud, Moulin, and
Chairman Osborne
ABSENT: Board Member Irwin and Olander
OTHERS PRESENT: John Falconer, Finance Director and Debbie DeRenard,
Secretary
II PUBLIC COMMENT- None
III CONFIRMATION OF AGENDA- Confirmed
IV CONSENT CALENDAR
1. Approval of Minutes of Meeting on November 8, 2000 for the Investment
Advisory Board.
MOTION - It was moved by Board Members Lewis/Moulin to approve the
Minutes of November 8, 2000. Motion carried unanimously.
Investment Advisory Board December 13, 2000
Minutes
V BUSINESS SESSION
A. Transmittal of Treasury Report for October 2000
Mr. Falconer advised that on Page 3 the overall annual earnings are a
little higher than the 6-month treasury bill. This is the first time the City
has met this benchmark based upon the changing interest rate in several
months environment.
In response to Chairman Osborne, Mr. Falconer advised that he has
invested a little more into LAIF than he had planned due to revenues
received. He further advised that he plans to invest more into
commercial paper if this trend continues.
In response to Board Member Lewis, Mr. Falconer advised that on Page
5 the net change is now being used to more easily track the change. He
further advised that the change now corresponds to Page 2.
MOTION - It was moved by Board Members Lewis/Moulin to review,
receive and file the Treasurers Reports for October 2000. Motion
carried unanimously.
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report - November 2000
Noted and Filed
B. Pooled Money Investment Board Reports - September 2000
Noted and Filed
C. LAIF Answer Book Update
,
Noted and Filed
Investment Advisory Board December 13, 2000
Minutes
D. Legislation Updates
Noted and Filed
VII BOARD MEMBER ITEMS- None
VIII ADJOURNMENT
MOTION - It was moved by Board Members Lewis/Mahfoud to adjourn the meeting
at 6'05 p.m. Motion carried unanimously.
Submitted by,
Debbie DeRenard
Secretary