HomeMy WebLinkAbout01-17 RESOLUTION 01-17
RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HELLS
ADOPTING THE REVISED INVESTMENT POLICY
WHEREAS, on December 11, 2014, the City Council reviewed and adopted the Town of Los
Altos Hills Investment Policy; and
WHEREAS, investment policies guide staff and their advisors for all investment activities on
behalf of local government agencies; and
WHEREAS,those investment activities are primarily governed by the individual entity's adopted
investment policy and by California state law (Government Code sections 53600-53610); and
WHEREAS, the Investment Policy for the Town of Los Altos Hills is consistent with state law
and, for the purpose of added safety and liquidity, is more restrictive than the state law; and
WHEREAS,the Finance and Investment.Committee (FIC)has reviewed proposed changes to the
Investment Policy and voted in favor of sending the amended policy to Council for its review and
approval
NOW THEREFORE, resolved by the City Council of the Town of Los Altos Hills that the
Council hereby adopts the Town's Revised Investment Policy as presented.
The above and foregoing Resolution was passed and adopted by the City Council of the Town of
Los Altos Hills at a special meeting held on the 25th day of January, 2017 by the following vote:
AYES: Waldeck, Radford, Corrigan, Spreen, Wu
NOES: None
ABSTAIN: None
ABSENT: None
BY:
Gary Waldeck, Mayor
ATTEST:
Deborah Padov.an, City Clerk
Resolution 01-17 Page 1