2013 01 09 IAB MinutesINVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, JANUARY 9, 2013
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order
at 4:00 p.m. by Chairman Blum.
PRESENT: Board Members Mortenson Blum, Spirtos Park and Donais
(4:02)
ABSENT: None
STAFF PRESENT: Finance Director, Robbeyn Bird and Senior Secretary, Vianka
Orrantia
PUBLIC COMMENT — None
CONFIRMATION OF AGENDA -
Board Member Donais requested that the date on page 2 of the "Adjournment" be
corrected and should read dan *� lacy-S; -2A�3 �ebruae�`r .1`
Due to the Finance Directors unavailability to the February 13, 2013 board
meeting, the Board at this time discussed alternatives dates for a Special Meeting
in February. It was the consensus of the Board to hold a special meeting on
February 18, 2013.
Motion — A motion was made by Board Members Spirtos/Park to approve the
agenda as amended. Motion passed unanimously.
APPROVAL OF MINUTES
Approval of the Minutes of December 12, 2012
Board Member Donais requested that a correction be made to page 1, Approval of
Minutes Motion and should read:
A motion was made by Board Members Mortenson/Semis OWN
INVESTMENT ADVISORY MINUTES 1 January 9, 2013
Motion - A motion was made by Board Members Mortenson/Spirtos to approve the
Minutes of December 12, 2012 as amended. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Transmittal of Treasury Report for November 2012
Ms. Bird presented and reviewed the staff report for the month November 2012.
In response to Board Member Spirtos, Ms. Bird advised the Board that the
maximum dollar investment limit in LAW is $50 million. Board Member Spirtos
asked staff what the maximum percentage limit was. Staff to follow-up and report
back to the Board at the next scheduled meeting.
In response to Board Member Mortenson, Ms. Bird clarified for the Board that the
Treasury Notes yield to maturity on page 5 and page 7 should be .750%.
In response to Board Member Donais, Ms. Bird clarified that the November "Cash &
Investment" increase on page 8 was due to a LAIF investment. Staff received the
funds late on Friday, November 30, 2012 and the investment took place on
Monday, December 3, 2012, therefore the increase was reported in the month of
November.
Motion - A motion was made by Board Members Mortenson/Spirtos to review,
receive and file the Treasurer's Report for November 2012, as amended. Motion
passed unanimously.
BUSINESS SESSION - None.
CORRESPONDENCE AND WRITTEN MATERIAL
1. Month End Cash Report, December 2012 and Pooled Money Investment Board
Report - November 2012
Ms. Bird presented and reviewed the staff report for the month November 2012.
Noted and Filed.
INVESTMENT ADVISORY MINUTES 2 January 9, 2013
BOARD MEMBER ITEMS
Board Member Spirtos advised the Board that on Thursday, January 10, 2013 at
11:00 a.m. the City will host Pillars of the Community recognizing those individuals
that have made a difference within the City of La Quinta.
ADJOURNMENT
There being no further business, it was moved by Board members Park/Donais to
adjourn thimeeting at 4:23 p.m. Motion passed unanimously.
Vianka ,Orrantia, Senior Se6i
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 3 January 9, 2013