SUCCESSOR AGENCY RESOLUTION NO. SA 2024-001
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHINO, CALIFORNIA AS SUCCESSOR AGENCY TO THE CHINO REDEVELOPMENT AGENCY OF THE CITY OF CHINO, CALIFORNIA, ADOPTING A STATEMENT OF INVESTMENT POLICY WHEREAS, February 7, 2023, the Successor Agency to the Chino Redevelopment Agency of the City of Chino last adopted the Statement of Investment Policy; and NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CHINO AS SUCCESSOR AGENCY TO THE CHINO REDEVELOPMENT AGENCY HEREBY RESOLVES AS FOLLOWS:
Section 1. The Statement of Investment Policy, attached hereto and incorporated herewith, is adopted as the Statement of Investment Policy of the Successor Agency to the Chino Redevelopment Agency.
Section 2. The policy of Resolution No. 1288, adopted on December 3, 1968, is reaffirmed in that the authority of the City Council to invest or to reinvest funds of the Successor Agency to the Chino Redevelopment Agency, or to sell or exchange securities so purchased, or to manage the City’s funds and securities is delegated by the City Council to the Agency Treasurer.
Section 3. The Agency Treasurer shall assume full responsibility for the decisions and transactions involving the investment and reinvestment of Agency funds, the sale or exchange of security so purchased and the management of Agency funds and securities until such time as this delegation of authority is revoked.
Section 4. The Agency Treasurer shall comply with the Statement of Investment Policy of the Successor Agency to the Chino Redevelopment Agency adopted by this Resolution.
Section 5. The Agency Treasurer shall report to the City Council, the City Manager and the City’s Auditor as required by the Statement of Investment Policy and all applicable laws.
Section 6. The Agency Treasurer shall render to the City Council and to the Investment Advisory Committee a Statement of Investment Policy each year which shall be considered for adoption by the City Council no later than its second regular meeting in February of each year. Any changes to said policy shall be considered by the City Council at such a public meeting.
APPROVED AND ADOPTED THIS 20th day of February 2024.
By:
EUNICE M. ULLOA, MAYOR
ATTEST:
________________________________
NATALIE GONZAGA, CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss.
CITY OF CHINO )
I, NATALIE GONZAGA, City Clerk of the City of Chino, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Chino at a regular meeting held on the 20th day of February 2024 by the following votes:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
By: _______________________________
NATALIE GONZAGA, CITY CLERK
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