2015 06 10 IAB MinutesREPORTS AND INFORMATIONAL ITEM: 22
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I NVESTM ENT ADVI SORY BOARD
MI NUTES
Wednesday. June 10.2015
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order at
4:01 p.m. by Chairperson Donais.
PRESENT: Board Members Park, Spirtos, Donais and Mortenson (via
teleconference)
ABSENT: None.
STAFF PRESENT: Finance Director Rita Conrad, and Administrative Technician,
Vianka Orrantia
PUBLICCOMMENT - None
CONFI RMATI ON OF AGENDA- Confirmed.
APPROVAL OF M I N UTES
Approval of the Minutes of May 13, 2015
Motion - A motion was made and seconded by Board Members Morten son/Spirtos to
approve the Investment Advisory Board minutes of May 13, 2015 as submitted.
Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Receive and File Treasurer's Reports for April 30, 2015 and the Pooled Money
Investment Board Report for April 2015.
Mrs. Conrad presented and reviewed the Treasurer's Reports for April 30, 2015 and the
Pooled Money Investment Board Reports for April 2015.
General discussion ensued amongst the Board and Staff regarding investment
alternates to CD's. The Board suggested that Staff revisit investing in Corporate Notes.
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Motion - A motion was made and seconded by Board Members Spirtos/Park to receive
and file the Treasurer's Report for April 30, 2015 and the Pooled Money Investment
Board Reports for April 2015. Motion passed unanimously.
BUSINESS SESSION - None
CORRESPON DEN CE AND W RI TTEN M ATERI AL
Mrs. Conrad advised the Board that Board Member Spirtos was resigning, (she will be
serving on the Planning Commission), and a copy of her resignation letter was
forwarded to the Board via email.
BOARD MEMBER I TEMS - None
DIRECTOR'S I TEMS
Mrs. Conrad advised the Board that Board Member Godbey's term would be expiring
on June 30, 2015, and with the resignation of Board Member Spirtos, the Board will
have two new board members in July, Mr. George Batavick and Mr. Mike Krmpotich.
Mrs. Conrad thanked both Board Members Spirtos and Godbey for their time and
service, and wished them well on their future endeavors.
ADJOU RN M ENT
There being no further business, it was moved and seconded by Board Members
Park/Spirtos adjourn at 4:25 p.m. Motion passed unanimously.
Respectfully submitted,
1"LaKAa
Vianka Orrantia, Administrative Technician
City of La Quinta, California
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