CC - 1995-04 - Authorizing Certain InvestmentsRESOLUTION NO. 95-04
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD AUTHORIZING CERTAIN INVESTMENTS
PURSUANT TO GOVERNMENT CODE SECTION 53601
Section 1. The City Council finds, determines and declares:
(a) Section 53601 of the Government Code allows the legislative body of a
local agency to authorize investments with maturities of longer than five years at the
time of the investment; and
(B) The City Council determines that, in certain circumstances, approval of
investments with maturities of longer than five years is in the best interest of the City
and in accordance with the objectives of municipal investment: safety of principal,
liquidity, and yield.
Section 2. The City Council hereby approves and ratifies the City Treasurer's existing
investments, listed on Exhibit "A", attached hereto and incorporated herein by this reference, in
securities with maturities of longer than five years.
Section 3. The City Clerk shall certify to the adoption of this Resolution and cause the same to
be processed according to State law.
PASSED. APPROVED and ADOPTED by the Rosemead City Council on this 7th day of
February, 1995.
I hereby certify that the foregoing Resolution
No. 95-04 was duly and regularly adopted by the
ATTEST: Rosemead City Council at a Special Meeting held
oni:the 7th day of February, 1995, by the following
vote:
Citv.Clerk~+c~J Yes: Clark, Vas4uez, Bruesch, Imperial
No: Taylor; Absent: None; Abstain: None
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