HA Resolution 2010-001RESOLUTION NO. HA 2010 - 001
A RESOLUTION OF THE LA QUINTA HOUSING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE INVESTMENT POLICY FOR FISCAL
YEAR 2010-2011
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 liquid to meet all:opereting
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 for Fiscal Year 2010-2011; 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 Housing Authority 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
Financing Authority, held on this 15th day of June 2010 by the following vote:
AYES: Authority Members Adolph, Franklin, Henderson, Sniff, Chair Evans
NOES: None
ABSENT: None
ABSTAIN: None
Resolution No. HA 2010-001
Investment Policy for FY 2010/11
AdoOted: June 15,2010
Page 2
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LI DA EVANS, Chair
La Quinta Housing Authority
ATTEST:
CMC, Secretary
rCa Quinta°j~i'6u§ing Authority
(AUTHORIT`7 SEAL)
APPROVED AS TO FORM:
. KATHERINE JE ON, Au ority Counsel
La Quinta Housing Authority
EXHIBIT A
City of La Quinta
INVESTMENT POLICY
Fiscal Year 2010-2011
see City Council Resolution 2010-045
approved this same date
for the 40 page exhibit