HomeMy WebLinkAbout2019-317Resolution No. 2019-317
RESOLUTION NO. 2019-317
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF
THE CITY OF SAN BERNARDINO, CALIFORNIA,
APPROVING AN INVESTMENT POLICY FOR FY 2019/20
WHEREAS, the City of San Bernardino has an existing investment policy consistent
with state law and sound financial management practices; and
WHEREAS, state law requires that the managing board of any municipality within the
state review and reapprove the investment policy on an annual basis; and
WHEREAS, the functions associated with the former office of the elected City Treasurer
have been transferred to the City's Director of Finance per the mandate of the new City Charter
approved in November 2016; and
WHEREAS the Director of Finance has reviewed the FY 2018-19 investment policy
adopted January 2, 2019, and is recommending changes to the proposed policy attached hereto as
Exhibit "A."
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1. The above recitals are true and correct and are incorporated herein by this
reference.
SECTION 2. The Mayor and City Council hereby adopts the "Investment Policy for
Fiscal Year 2019-20," attached hereto as Exhibit "A" and incorporated herein and made a part of
this Resolution.
SECTION 3. Effective Date. This Resolution shall become effective immediately.
APPROVED and ADOPTED by the City
by the City Clerk this 6th day of November 2019.
Attest:
eorgeann H MMC, Ci lerk
Approved as to form:
Gary D. Saenz, City Attorney
Resolution No. 2019-317
and s}@ied by the Mayor and attested
%ohn VaMivia, Mayor
City of San Bernardino
Resolution No. 2019-317
CERTIFICATION
STATE OF CALIFORNIA)
COUNTY OF SAN BERNARDINO) ss
CITY OF SAN BERNARDINO )
I, Georgeann Hanna, MMC, City Clerk, hereby certify that the attached is a true copy of
Resolution No. 2019-317, adopted at a regular meeting held at the 6th day of November 2019 by
the following vote:
Council Members:
AYES NAYS ABSTAIN ABSENT
SANCHEZ
IBARRA
FIGUEROA
X
SHORETT_
NICKEL
RICHARD
MULVIHILL
WITNESS my hand and official seal of the City of San Bernardino this Oh day of November
2019.
L�
George ansa, M '-1 , City Clerk