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1 <br /> <br /> 2 <br /> <br /> 3 <br /> <br /> 4 <br /> <br /> 5 <br /> <br /> 6 <br /> <br /> 7 <br /> <br /> 8 <br /> <br /> 9 <br /> <br />10 <br /> <br />11 <br /> <br />12 <br /> <br />13 <br /> <br />14 <br /> <br />15 <br /> <br />16 <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br />20 <br /> <br />21 <br /> <br />22 <br /> <br />23 <br /> <br />24 <br /> <br />25 <br /> <br />26 <br /> <br />27 <br /> <br /> RESOLUTION NO. 20607 <br /> <br /> A RESOLUTION OF THE CITY COUNCiL OF THE CITY OF RIVERSIDE, <br /> CALIFORNIA, APPROVING A POLICY FOR THE INVESTMENT OF CITY FUNDS <br /> BY THE CITY TREASURER AND REPEALING RESOLUTION NO. 20355 <br /> <br /> WHEREAS, Section 705 of the Charter of the City of Riverside provides that the City <br />Treasurer shall have custody of all public funds belonging to or under the conuol of the City or <br />any office, department or agency of the City government and deposit all funds coming into the <br />City Treasurer's hands in such depository as may be designated by resolution of the City Council, <br />or, if no such resolution is adopted, then in such depository designated in writing by the City <br />Manager and in compliance with all provisions of the State Constitution and laws of the state <br />governing the handling, depositing and securing of public funds; and <br /> <br /> WHEREAS, in February 2003, the City Council last reviewed and approved the current <br />investment policy by adopting Resolution No. 20355; and <br /> <br /> WHEREAS, the City Treasurer has reviewed the Investment Policy and determined it <br />continues to conform to or be mom stringent than required by the California Government Code; <br />and <br /> <br /> WHEREAS, the proposed Investment Policy makes no changes from the policy approved <br />policy in 2003. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Riverside <br />California, as follows: <br /> <br /> Section 1: The City of Riverside Investment Policy, including the delegation of investment <br />responsibility to the City Treasurer, as set forth in Exhibit A attached hereto, is hereby adopted as <br />the investment policy for the City of Riverside. <br /> <br /> Section2: Resolution No. 20355 is hereby repealed. <br /> <br /> Section 3: The provisions of this resolution shall become effective immediately upon <br />adoption. <br /> <br />City Attorney's Of 0ce <br />3900Main Street <br />Riverside, CA 92522 <br />(909)826-5567 <br /> <br /> <br />