ORD 464ORDINANCE NO. 464
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA,.AMENDING SECTION 2.70.010
OF THE LA QUINTA MUNICIPAL CODE RELATING TO THE
INVESTMENT ADVISORY BOARD
THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, DOES HEREBY
ORDAIN AS FOLLOWS:
SECTION I. That Chapter 2.70, Section 2.70.010 Item C of the La Quinta
Municipal Code is hereby amended to read as follows:
C. Applicants for the board should have a verifiable background in finance
and/or securities, preferably with knowledge and/or experience in markets,
financial controls and accounting for securities. Background information will be
requested and potential candidates must agree to a background check and
verification.
SECTION II. That Chapter 2.70, Section 2.70.010 of the La Quinta Municipal
Code is hereby amended to add Section 2.70.010 item E as follows:
E. To promote continuity, the expiration of the terms of the members of the
board shall be staggered. The term of service is three years, with the terms of
one or two members expiring each year.
SECTION III. EFFECTIVE DATE: This Ordinance shall be in full force and effect
thirty (30) days after its adoption.
SECTION IV. POSTING: The City Clerk shall within fifteen (15) days after
passage of this Ordinance, cause it to be posted in at least three (3) public places
designated by resolution of the City Council; shall certify to the adoption and posting
of this Ordinance; and shall cause this Ordinance and its certification, together with
proof of posting to be entered into the Book of Ordinance of the City of La Quinta.
PASSED, APPROVED AND ADOPTED this 17`h day of March, 2009 by the
following vote:
AYES: Council Members Franklin, Kirk, Sniff, Mayor Pro Tem Henderson
NOES: None
ABSTAIN: Mayor Adolph
ABSENT: None
Ordinance No. 464
Amending Section 2.70.010
Re: Investment Advisory Board
Adopted: March 17, 2009
Page 2
~/
TERRY NDERSON, Mayor Pro Tem
City of L Quinta, California
ATTEST:
VERONICA J~IONTECINO", ~CMC, City Clerk
City of La mta, California
(SEAL)
APPROVED AS TO FORM:
. KATHERINE JEN ON, City Attorney
City of La Quinta, California
Ordinance No. 464
Amending Section 2.70.010
Re: Investment Advisory Board
Adopted: March 17, 2009
Page 3
STATE OF CALIFORNIA ~
COUNTY OF RIVERSIDE ~ ss.
CITY OF LA QUINTA 1
I, VERONICA MONTECINO, City Clerk of the City of La Quinta, California, do hereby
certify the foregoing to be a full, true, and correct copy of Ordinance No. 464 which
was introduced at a regular meeting on the 3rd day of March, 2009, and was adopted
at a meeting held on the 17`" day of March, 2009, not being less than five days after
the date of introduction thereof.
I further certify that the foregoing Ordinance was posted in three places within the City
of La Qyifita as specified in City Council Resolution No. 2006-1 15.
VERONICA MONfiE~INO, CMC, City Clerk
City of La Quinta, California
DECLARATION OF POSTING
1, VERONICA MONTECINO, City Clerk of the City of La Quinta, California, do hereby
certify that the foregoing ordinance was posted on NlAtzcH Iq, 2004 ,pursuant to
Council Resolution.
VERONICA MONTECINO, CMC, City
City of La Quinta, California