FA Resolution 2009-001RESOLUTION NO. FA 2009 - 001
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE AMENDED INVESTMENT POLICY
FOR FISCAL YEAR 2009/2010
WHEREAS, the general purpose of the Investment Policy is to provide the
rules and standards users must follow in investing funds of the City of La Quinta;
and
WHEREAS, the primary objectives, in order of priority, of the City of La
Quinta's investment activity shall be:
Safety of principal is the foremost objective of the
investment program. Investments of the City of La
Quinta shall be undertaken in a manner that seeks to
ensure the preservation of capital in the overall portfolio.
The investment portfolio shall remain sufficiently liquid to
meet all operating requirements that may be reasonably
anticipated.
The investment portfolio shall be designed with the
objective of attaining a market rate of return or yield
throughout budgetary and economic cycles, taking. into
account the investment risk constraints and liquidity
needs.
WHEREAS, authority to manage the City of La Quinta's investment portfolio
is derived from the City Ordinance. Management responsibility for the investment
program is delegated to the City Treasurer, who shall establish and implement
written procedures for the operation of the City's investment program consistent
with the Investment Policy for Fiscal Year 2009/2010; and
WHEREAS, the Investment Policy will be adopted before the end of June of
each year and amended as considered necessary; and
NOW, THEREFORE, BE IT RESOLVED by the Financing Authority of the City
of La Quinta to adopt the Fiscal Year Investment Policy (Exhibit A).
Resolution No. FA 2009-001
Amended Investment Policy for FY 2009-2010
Adopted: June 16, 2009
Page 2
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Financing Authority, held on this 16`" day of June 2009 by the following vote, to
wit:
AYES: Members Evans, Franklin, Henderson, Sniff, Chairperson Adolph
NOES: None
ABSTAIN: None
ABSENT: None
DON AD PH, Ch irperson
La Quinta Financing Authority
ATTEST:
VERONICA J. I~~f
La' Quinta Financ
.;
(SEAL)"-: ~, ~~~
~ECINO, CMC, Secretary
Authority
APPROVED AS TO FORM:
~ ~.
M. KAT ERINE JENSON, Authority Counsel
La Quinta Financing Authority
Resolution No. FA 2009-001
Amended Investment Policy for FY 2009-2010
Adopted: June 16, 2009
Page 3
EXHIBIT A
This Exhibit is the 40-page INVESTMENT POLICY for FY 2009-2010
It is noted as Exhibit A to the following Resolutions, all of which were
adopted on June 16, 2009:
City Council
Redevelopment Agency
Financing Authority
Resolution No. 2009-055
Resolution No. 2009-003
Resolution No. 2009-001
In order to save storage space and paper, the INVESTMENT POLICY
has been attached to CC Resolution No. 2009-055 only.