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RESOLUTION 53-20 <br />RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS <br />ADOPTING THE REVISED INVESTMENT POLICY <br />WHEREAS, on October 17, 2019 the City Council reviewed and adopted the Revised Town of <br />Los Altos Hills Investment Policy; and <br />WHEREAS, investment policies guide staff and their advisors for all investment activities on <br />behalf of local government agencies; and <br />WHEREAS, those investment activities are primarily governed by the individual entity's adopted <br />investment policy and by California state law (Government Code sections 53600-53610); and <br />WHEREAS, the Investment Policy for the Town of Los Altos Hills is consistent with state law <br />and, for the purpose of added safety and liquidity, is more restrictive than the state law; and <br />WHEREAS, the Finance and Investment Committee (FIC) has reviewed changes to the <br />Investment Policy (Attachment A) and voted in favor of sending the amended policy to Council <br />for its review and approval; and <br />NOW THEREFORE, resolved by the City Council of the Town of Los Altos Hills that the <br />Council hereby adopts the Town's Revised Investment Policy as presented. <br />The above and foregoing resolution was passed and adopted by the City Council of the Town of <br />Los Altos Hills at a regular meeting held on the 15th day of October 2020 by the following vote: <br />AYES: Wu, Tanlcha, Corrigan, Spreen, Tyson <br />NOES: None <br />ABSTAIN: None <br />ABSENT: None <br />ATTEST: <br />eborah Padova;, City Cleric <br />BY: <br />Michelle Wu, Mayor <br />Resolution 53-20 Page I <br />