0665RESOLUTION NO. 665
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING
HILLS ESTABLISHING AN INVESTMENT POLICY
WHEREAS, the City has a responsibility to maximize the return on assets entrusted
to its care and to invest and manage public funds wisely and prudently; and
WHEREAS, the City recognizes that it has an equal obligation to be aware of the
social and political impact of its investments,
NOW, THEREFORE, BE IT RESOLVED that the City of Rolling Hills shall not
knowingly make any investments in any institution which directly or through a subsidiary or
affiliate practices or supports directly or indirectly discrimination on the basis of race,
religion, color, creed, national or ethnic origin, sex, sexual orientation or physical disability.
The City will not invest in any institution with direct investments in South Africa.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the City shall strive,
consistent with the limitations of the policy delineated herein to invest funds with local
banks and savings and loan associations.
WHEREAS, the City has determined that its investment goals are safety, liquidity
and yield, in that order,
NOW, THEREFORE, the City's investments shall be limited to the following
investment media:
1. The Local Agency Investment Fund administered by the Treasurer of the
State of California.
2. The Los Angeles County Pooled Investment Fund.
3. Certificates of Deposit, insured by the Federal Deposit Insurance Corporation.
4. Securities backed by the full faith and credit of the United States Government
and which mature in one year or less.
5. Money market Savings Accounts and demand deposits provided that no
deposits in any one institution shall exceed the amount insured by the Federal
Deposit Insurance Corporation.
THE LISTED INVESTMENTS ARE THE ONLY AUTHORIZED,
INVESTMENTS FOR THE CITY.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the City shall strive to
maintain the level of investment of its idle funds at as near 100% as possible, through timely
projected cash flow determinations. Investment transactions are the responsibility of the
Finance Department.
RESOLUTION NO, 606 IS HEREBY RESCINDED.
A
ATTEST:
CRAI s R. NEALIS, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ss
CITY OF ROLLING HILLS
The foregoing Resolution No. 665 entitled:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING
HILLS ESTABLISHING AN INVESTMENT POLICY
was approved and at a regular meeting of the City Council at a meeting on February 10th,
1992 by the following roll call vote:
AYES: Pernell, Swanson, Heinsheimer, Leeuwenburgh, Murdock
NOES: None
ABSENT: None
a I ze�
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CRAYG R. NEALIS, CITY CLERK