Ordinance No. 762 - Meetings and Reports of the Investment CommitteeORDINANCE NO. 762
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF ROSEMEAD, CALIFORNIA AMENDING SECTION 2207
OF THE ROSEMEAD MUNICIPAL CODE RELATING TO
MEETINGS AND REPORTS OF THE INVESTMENT
COMMITTEE
The City Council of the City of Rosemead does ordain as follows:
Section 1. Section 2207 of the Rosemead Municipal Code is hereby amended to read
as follows:
Section 2207. The Investment Committee.
There shall be an Investment Committee which shall serve as an
advisory body to the City Treasurer and City Council.
(a) Duties. The Investment Committee shall meet on a
• regular basis, not less than once each month, to determine
investments, appropriate depository banks, the amount and
allocation of active and inactive deposits, the methods of deposit,
and all other matters pertinent to the investment and cash-flow of
the City of Rosemead. The Investment Committee shall advise
the Treasurer and report, from time to time, to the City Council
on the status of the investment and cash-flow requirements of the
• City.
(b) Members of Investment Committee. The Investment Committee
shall consist of the Treasurer, who shall be its chairman, the City Manager, and
the Director of Finance.
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(c) The Investment Committee shall provide the City
Council with a written report of Investment Committee meetings
no less than once every three months.
Section 2. The Mayor shall sign and the City Clerk shall certify to the passage and
adoption of this Ordinance and shall cause the same to be published and posted pursuant to the
provisions of law in that regard and this Ordinance shall take effect thirty (30) days after its
final passage.
APPROVED AND ADOPTED this 9d day of , 199(. .
i
I VASQ Z ~Ilayo
ATTEST:
i
NANCY V DERRAMA, City Clerk
I hereby certify that the foregoing Ordinance No. 762 was duly
and regularly adopted by the Rosemead City Council at a regular
meeting held on the 9th day of January 1996, by the following vote:
Yes: Clark, Bruesch, Vasquez, Imperial, Taylor
No: None; Absent: None; Abstain: None
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City Cterk