JOINT RESOLUTION NO. 2026-45
RESOLUTION NO. SA 2026-01
RESOLUTION NO. HHA 2026-06
RESOLUTION NO. CDC 2026-01
RESOLUTION NO. HFPD 2026-05
RESOLUTION NO. HWD 2026-17
A JOINT RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HESPERIA, CALIFORNIA, SUCCESSOR AGENCY FOR THE HESPERIA COMMUNITY REDEVELOPMENT AGENCY, THE BOARD OF DIRECTORS OF THE HESPERIA HOUSING AUTHORITY, COMMISSIONERS OF THE COMMUNITY DEVELOPMENT COMMISSION, THE BOARD OF DIRECTORS OF THE HESPERIA FIRE PROTECTION DISTRICT, AND THE BOARD OF DIRECTORS FOR THE HESPERIA WATER DISTRICT ANNUALLY APPROVING THE STATEMENT OF INVESTMENT POLICY WHEREAS, it is the responsibility of the City Treasurer to protect, preserve and maintain cash and investments of the City of Hesperia (City), Successor Agency for the Hesperia Community Redevelopment Agency, Hesperia Housing Authority, Hesperia Community Development Commission, Hesperia Fire Protection District, and Hesperia Water District, on behalf of the citizens of this community; and WHEREAS, it is the City Treasurer’s responsibility to review and/or amend and present to the City Council, Commissioners, and Board of Directors for approval, a Statement of Investment Policy which is intended to provide guidelines for the prudent investment of public funds while maintaining compliance with all applicable local, state and federal laws and regulations; and WHEREAS, it is the policy of the City, Successor Agency for the Hesperia Community Redevelopment Agency, Hesperia Housing Authority, Hesperia Community Development Commission, Hesperia Fire Protection District, and Hesperia Water District to invest public funds not required for immediate day-to-day operations in safe and liquid investments having a market-average rate of return, while conforming to all federal, state and local statutes governing the prudent investment of public funds, with the City’s, Successor Agency for the Hesperia Community Redevelopment Agency, Hesperia Housing Authority, Hesperia Community Development Commission, Hesperia Fire Protection District, and Hesperia Water District’s ultimate goal being to enhance its economic status while protecting funds, taking the “Prudent Investor Rule” as its guide in carrying out this goal; and WHEREAS, it is the City’s, Successor Agency for the Hesperia Community Redevelopment Agency, Hesperia Housing Authority, Hesperia Community Development Commission, Hesperia Fire Protection District, and Hesperia Water District’s position that the Statement of Investment Policy shall apply to funds under the direction of the City Treasurer that are not required for immediate cash flow needs, or were otherwise invested in accordance with bond indentures and trust agreements, and are under the authority of the City, Commissioners, and Board of Directors, which shall include investments of the City of Hesperia, Successor Agency for the Hesperia Community Redevelopment Agency, Hesperia Housing Authority, Hesperia Community Development Commission, Hesperia Fire Protection District, and Hesperia Water District itself, which investments shall be pooled in a diversified portfolio; and WHEREAS, the attached Statement of Investment Policy has been developed using the California Debt and Investment Advisory Commission’s Local Agency Investment Guidelines and the Municipal Treasurers Association Model Investment Policy as guides, assuring compliance with current state legislation, while providing a management tool to implement future investment decisions by the City Treasurer; and WHEREAS, an annual review of the Statement of Investment Policy has recently been conducted and the policy is in compliance with California Government Code Sections 53600 et. seq. and 5922(d).
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HESPERIA, CALIFORNIA, SUCCESSOR AGENCY FOR THE HESPERIA COMMUNITY REDEVELOPMENT AGENCY, THE BOARD OF DIRECTORS OF THE HESPERIA HOUSING AUTHORITY, COMMISSIONERS OF THE COMMUNITY DEVELOPMENT COMMISSION, THE BOARD OF DIRECTORS OF THE HESPERIA FIRE PROTECTION DISTRICT, AND BOARD OF DIRECTORS OF THE HESPERIA WATER DISTRICT, AS FOLLOWS:
Section 1. That the recitals above are true and correct and adopted as findings.
Section 2. The Statement of Investment Policy, included herein as “Attachment 1” of this Joint Resolution, as the Statement of Investment Policy for the City of Hesperia is hereby adopted.
Section 3. That the City Clerk shall certify to the passage and adoption of this Resolution and enter it into the book of original resolutions.
ADOPTED AND APPROVED this 1st day of September 2026.
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Brigit Bennington, Mayor
ATTEST:
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Jessica Giber, Assistant City Clerk
Joint Resolution No. 2026-45, SA 2026-01, HHA 2026-06, CDC 2026-01, HFPD 2026-05, & HWD 2026-17