08-18 RESOLUTION NO. 08-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA,
APPROVING THE FISCAL YEAR 2008-09 INVESTMENT POLICY AND APPROVING DELEGATION
TO THE CITY TREASURER TO CARRY OUT SUCH POLICY
Whereas, Government Code Section 53607 permits the City Council to delegate its investment
authority to the City Treasurer by resolution each fiscal year; and
Whereas, the City Council desires to make such delegation in conjunction with the approval of an
investment policy;
NOW, THEREFORE, the City Council of the City of Menifee, California, does hereby RESOLVE,
DETERMINE and ORDER as follows:
SECTION 1: The City Council hereby adopts the Statement of Investment Policy, attached and
incorporated here as Exhibit"A".
SECTION 2: The City Council hereby delegates to the City Treasurer the City Council's investment
authority and authorizes the City Treasurer to appoint deputies to assist in carrying out this function for fiscal
year 2008-09.
PASSED,APPROVED AND ADOPTED this 1st day of October, 2008, as follows:
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Ayes:&A,W 6�
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Noes: d�
Absent: `7)
Abstain:
Wallace W. Edgerton, Mayor
Attest:
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Kathy Bennett, City Clerk
Approved as to form:
Elizab6fh Marlyn, Interim City Attorney
4851-9545-2419.1