RDA Resolution 2009-003RESOLUTION NO. RA 2009 - 003
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY 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 H� 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 i`kto
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 Redevelopment Agency of the
City of La Quinta to adopt the Fiscal Year Investment Policy (Exhibit A).
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Redevelopment Agency, held on this 16 th day of June 2009 by the following vote,
to wit:
Resolution No. RA 2009-003
Amended Investment Policy for FY 2009-2010
Adopted: June 19, 2009
Page 2
AYES: Members Adolph, Evans, Henderson, Sniff, Chairperson Franklin
NOES:
None
ABSTAIN:
None
ABSENT:
None
ATTEST:
Vt:hLJINJILA,4-. lVIU
i
La�"Quinta R/edeve
(SEA Q
KRIS-VY F
La Quinta
NTECINO, CMC, Agency Secretary
opment Agency
APPROVED AS TO FORM:
A,
M. kATARINE $ASON, Agency Counsel
La Quinta Redevelopment Agency
I
LIN, Chairperson
ielopment Agency
Resolution No. RA 2009-003
Amended Investment Policy for FY 2009-2010
Adopted: June 19, 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. 2009-001
In order to save storage space and paper, the INVESTMENT POLICY
has been attached to CC Resolution No. 2009-055 only.