ORD 269ORDINANCE NO. 269
AN ORDINANCE OF THE CITY COUNCIL OF
THE CITY OF LA QUINTA, CALIFORNIA,
AMENDING SECTION 2.70.030 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 2.70.030 of the La Quinta Municipal
code is hereby amended to read as follows:
The Board will annually elect a Chairperson and Vice -Chairperson at the first
meeting held after each June 30.
The following are functions of the Board that are to be addressed at each meeting:
(1) review account statements and verifications to ensure accurate reporting as they relate
to an investment activity; (ii) monitor compliance with existing Investment policy and
_ procedures; and (iii) review and make investment contracts, and investment consultants.
The Board will report to City Council after each meeting either in person or through
correspondence at a regular City Council meeting.
SECTION II. EFFECTIVE DATE: This Ordinance shall be in full force and
effect thirty (30) days after its adoption.
SECTION III. 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.
votes:
PASSED, APPROVED AND ADOPTED this 18th day of July, 1995 by the following
AYES: Council Members Bangerter, Cathcart, Perkins, Sniff, Mayor Pena
NOES: None
ABSTAIN: None
ABSENT: None
Ordinance No. 269
Page 2
JOHN J. IYENA, M or
City of La Quinta, California
SAUNDRA L. JUHOVA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
DAWN HONEYWELL, City Attorney
City of La Quinta, California
STATE OF CALIFORNIA }
COUNTY OF RIVERSIDE) ss.
CITY OF LA QUINTA )
I, SAUNDRA L. JUHOLA, 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. 269 which was introduced
on the 5th day of July, 1995 and was adopted at a regular meeting held on the 5th day of July,
1995 not being less than 5 days after date of introduction thereof.
I her certify that the foregoing ordinance was posted in three (3) places within the City of
Quinta as specified in a resolution of the City Council.
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SAUNDRA L. JUHOLA, City Clerk
City of La Quinta, California
DECLARATION OF POSTING
I, SAUNDRA L. JUHOLA, City Clerk of the City of La Quinta, California, do hereby certify
tha"he foregoing ordinance was posted on August 11, 1995 pursuant to City Council
AUNDRA L. JUHOLA, City Clerk
City of La Quinta, California