RESOLUTION NO. _____
Resolution Of The City Council Of The City Of Emeryville Adopting The Annual Statement Of Investment Policy And Delegation Of Authority To The Finance Director/Treasurer
WHEREAS, California Government Code Section 53646 requires an annual Statement of Investment Policy (Investment Policy) to be submitted to a local agency’s legislative body for consideration and approval; and
WHEREAS, the City Council last approved a Statement of Investment Policy on September 5, 2023; and
WHEREAS, the Investment Policy places a high priority on ensuring the safety of principal investments first and then ensuring that the liquidity needs for payment of City obligations are met prior to considering any yield on investments; and WHEREAS, the proposed Investment Policy reflects the most recent changes to California Government Code 53601, adds California Local Government Investment Pools to diversify investment, defines rating category “AA” and adds language on prohibited investments to strengthen risk measures and increase safety in the City’s investment program; now, therefore, be it,
RESOLVED, by the City Council of the City of Emeryville hereby adopts the annual Statement of Investment Policy, attached hereto as Exhibit A, to retroactively take effect September 1, 2024; and, be it, further
RESOLVED, by the City Council of the City of Emeryville hereby delegates authority to the Finance Director/Treasurer for investment transactions as set forth in the Investment Policy.
Docusign Envelope ID: 5767A833-8289-4FE8-99EB-41DA28FD2AA9 Resolution No. _____
Annual Statement of Investment Policy
City Council Meeting | September 3, 2024
ADOPTED, by the City Council of the City of Emeryville at a regular meeting held Tuesday, September 3, 2024, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK SPECIAL COUNSEL
Docusign Envelope ID: 5767A833-8289-4FE8-99EB-41DA28FD2AA9