RESOLUTION NO. _____________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FOSTER CITY ADOPTING AN UPDATED INVESTMENT POLICY DATED JUNE 17, 2024
CITY OF FOSTER CITY
WHEREAS, California Government Code section 53646 requires that a local agency adopt an Investment Policy that governs the investment of public funds in accordance with State law; and
WHEREAS, the City’s Investment Policy was last updated on June 20, 2023; and WHEREAS, the City’s three primary objectives for its investments, in order of priority, remain unchanged: a) Safety, b) Liquidity, and c) Yield; and WHEREAS, the City’s Investment Policy is updated to also reflect the current composition of the City Council
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Foster City that the Investment Policy dated June 17, 2024 is hereby approved.
PASSED AND ADOPTED as a resolution of the City Council of the City of Foster City at the Regular Meeting held on the 17th day of June, 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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PATRICK SULLIVAN, MAYOR
ATTEST:
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PRISCILLA SCHAUS, CITY CLERK