1999 06 29 RDA117
m
P.O. Box 1504
<"8z 78-195 CA1,1,F, TAMi'lC��
-' LA QuIv rn, CALIFORNIA 92253
NOTICE OF SPECIAL MEETING
OF THE
LA QUINTA REDEVELOPMENT AGENCY
TUESDAY, JUNE 29, 1999
1:30 PM
(760) 7 7 7 - 7 0 0 0
(TDD) (760) 777-1227
NOTICE IS HEREBY GIVEN THAT IN ACCORDANCE WITH GOVERNMENT CODE SECTION
54956, I, RON PERKINS, CHAIRMAN OF THE LA QUINTA REDEVELOPMENT AGENCY, DO
HEREBY CALL A SPECIAL MEETING OF THE LA QUINTA REDEVELOPMENT AGENCY FOR
1 :30 PM ON TUESDAY, JUNE 29, 1999. SAID MEETING WILL BE HELD IN THE LA QUINTA
CITY COUNCIL CHAMBER, 78-495 CALLE TAMPICO, LA QUINTA, CALIFORNIA.
PURPOSE OF SAID MEETING IS AS DELINEATED ON THE ATTACHED AGENDA.
Dated: June 25, 1999
RON PERKINS, Chairman
La Quinta Redevelopment Agency
DECLARATION OF POSTING
I, Saundra L. Juhola, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the
foregoing notice for the Special Redevelopment Agency meeting of June 29, 1999 was posted on the
outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at the La Quinta
Chamber of Commerce and faxed to the news media on Friday, June 25, 1999.
Date : June 25, 1999
UNDRA L. HOL , Secretary
La Quinta Redevelopment Agency
La Quinta
Redevelopment Agency
SPECIAL MEETING
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
June 29, 1999
1:30 PM
CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
PUBLIC COMMENT
CONFIRMATION OF AGENDA
CLOSED SESSION - None
CONSENT CALENDAR - None
Beginning Reso. No. 99-03
BUSINESS SESSION
CONSIDERATION OF ADOPTION OF THE INVESTMENT POLICY FOR FISCAL YEAR
1999/2000.
A) RESOLUTION ACTION.
ADJOURNMENT
PUBLIC NOTICE
The La Quinta City Council is handicapped accessible. If special equipment is needed for the
hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the
meeting and accommodations will be made.
TWY/ 4 4 Q"
AGENDA CATEGORY:
BUSINESS SESSION: -L
COUNCIL/RDA MEETING DATE: ,June 29, 1999 CONSENT CALENDAR:
ITEM TITLE: STUDY SESSION:
PUBLIC HEARING:
Consideration of a Resolution of the
Redevelopment Agency of the City of
La Quinta, California Adopting the
Investment Policy of the City of La Quinta
for Fiscal Year 1999/2000
RECOMMENDATION:
Approve a Resolution of the Redevelopment Agency of the City of La Quinta,
California adopting the Investment Policy of the City of La Quinta for Fiscal Year
1999/2000.
SEE CITY COUNCIL STAFF REPORT
F
y'
RESOLUTION NO. RA 99 -
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA APPROVING AND
ADOPTING THE AMENDED INVESTMENT POLICY FOR
FISCAL YEAR 1999/2000
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 li uid 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; 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 Redevelopment Agency of the City
of La Quinta to adopt the 1999/2000 Fiscal Year Investment Policy (Exhibit A).
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Redevelopment Agency, held on this day of
1999 by the following vote, to wit:
AYES:
NOES:
ABSTAIN:
ABSENT:
RON PERKINS
La Quinta Redevelopment Agency
ATTEST:
SAUNDRA L. JUHOLA, Secretary
City of La Quinta, California
APPROVED AS TO FORM:
DAWN HONEYWELL, City Attorney
City of La Quinta, California