RESOLUTION NO. 2022-107
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POMONA, CALIFORNIA, APPROVING THE 2022-23 STATEMENT OF INVESTMENT POLICY FOR THE INVESTMENT OF PUBLIC FUNDS BY THE CITY TREASURER AND REAFFIRMING APPOINTMENT OF FINANCE DIRECTOR AS CITY TREASURER WHEREAS, Section 704 of the Charter of the City of Pomona provides that the City Treasurer shall have the responsibility for receiving and investing City funds; WHEREAS, the City Council appointed the Finance Director as City Treasurer on July 21, 2014 and reaffirmed the appointment on July 19, 2021 WHEREAS, Section 2 of Resolution 2014-85, appointing the Finance Director as City Treasurer requires reaffirmation of appointment each year with the adoption of the Investment Policy; WHEREAS, pursuant to Section XIII of the current Statement of Investment Policy, this Statement of Investment Policy shall be reviewed and approved annually at a public meeting by the City Council; WHEREAS, the City’s Statement of Investment Policy has been reviewed and revised as necessary in order to continue to either meet or exceed the provisions of California Government Code Section 53601; and WHEREAS, the Statement of Investment Policy assures the City’s continued compliance with current State legislation and provides a management tool by which to implement future investment decisions.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Pomona as follows:
SECTION 1. The Finance Director is hereby affirmed as City Treasurer and is to continue as such until repealed by a subsequent action:
SECTION 2. The City of Pomona Investment Policy as set forth in EXHIBIT “A” attached hereto is hereby adopted as the investment policy for public funds held by and entrusted to the City of Pomona through its designated officers and employees.
SECTION 3. The City Clerk shall attest to and certify to the passage and adoption of this resolution and it shall become effective immediately upon its approval.
PASSED, APPROVED AND ADOPTED this 18th day of July, 2022.
CITY OF POMONA:
______________________________
Tim Sandoval
Mayor
APPROVED AS TO FORM: ATTEST:
________________________________ ______________________________ Sonia Carvalho Rosalia A. Butler, MMC
City Attorney City Clerk
I, HEREBY CERTIFY that the foregoing resolution was duly adopted by the City Council of the City of Pomona at a regular meeting thereof held on July 18, 2022 by the following vote of the Council:
AYES:
NOES:
ABSTAIN:
ABSENT:
Rosalia A. Butler, MMC
City Clerk
Resolution No. 2022-107
July 18, 2022
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