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RESOLUTION NO. 85-51
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF UKIAH ADOPTING AN INVESTMENT
POLICY FOR THE YEAR 1985
~EREAS, the State Legislature has adopted Assembly Bill 1073 mandating that
local agencies adopt an Investment Policy.
NOW, THEREFORE, be it resolved that the following be the Investment Policy
of the City of Ukiah.
The surplus funds of the City of Ukiah shall be invested in either or
both:
(a) Time Certificates of Deposits
(b) Local Agency Investment Fund
Be it further resolved, that a monthly report be prepared and forwarded to
the City Manager showing the type of investment, date of maturity, amount of
deposit, rate of interest and current market value of all securities with a
maturity date of I2 months or more.
PASSED AND ADOPTED this 6th day of February , I985, by the
following roll call vote:
AYES: Councilmembers Henderson, Kier, Kelley, Hickey and Mayor Myers
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
Mayor
City Clerk