SUCCESSOR AGENCY RESOLUTION NO. SA 2025-001
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 AND DELEGATION OF CITY TREASURER DUTIES.
WHEREAS, on February 20, 2024, the City Council of the City of Chino as Successor Agency to the Chino Redevelopment Agency of the City of Chino (“Successor Agency”) last adopted the Statement of Investment Policy; and WHEREAS, California Government Code Section 53600 et seq. governs the investment of public funds by local governments; and WHEREAS, pursuant to California Government Code Section 53607, the City Council of the City of Chino has delegated its investment authority under California Government Code Section 53601 to the City Treasurer.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CHINO AS SUCCESSOR AGENCY HEREBY RESOLVES AS FOLLOWS:
Section 1. The City Council does hereby adopt the attached Exhibit A containing the Statement of Investment Policy effective immediately and ending June 30, 2026.
Section 2. Any and all prior resolutions adopting a Statement of Investment Policy for the City of Chino shall be hereby rescinded.
Section 3. The City Council designates the Director of Finance as the City Treasurer.
Section 4. The City Council pursuant to Government Code Section 53607, hereby delegates to the City Treasurer of the City of Chino the authority of the City Council to invest or to reinvest funds of the Successor Agency, or to sell or exchange securities so purchased, until such time as the delegated authority is revoked.
Section 5. The City Treasurer shall hereafter assume full responsibility for those transactions relating to the investment or the reinvestment of Successor Agency funds, and the sale or exchange of securities so purchased until the delegation of this authority is revoked or expires. The authority so delegated shall comply with the provisions of State of California law, including California Government Code Section 53601, and the Investment Policy.
Section 6. The City 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.
Section 7. The City 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.
APPROVED AND ADOPTED THIS 18th day of February 2025.
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 as Successor Agency to the Chino Redevelopment Agency of the City of Chino at a regular meeting held on the 18th day of February 2025 by the following votes:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
By: _______________________________
NATALIE GONZAGA, CITY CLERK
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