Reso 0947-06/1993 RESOLUTION NO. 947
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
VALLECITOS WATER DISTRICT
APPROVING STATEMENT OF INVESTMENT POLICY
FOR FISCAL YEAR 1993-94
WHEREAS, the Board of Directors, pursuant to Government Code Section
53646, shall annually approve a Statement of Investment Policy; and
WHEREAS, the annual Statement of Investment Policy of the Vallecitos
Water District is as follows:
Vallecitos Water District (DISTRICT) funds not required for immediate
expenditure will be invested in compliance with the provisions of Government Code
Sections 53600-53683. Criteria for selecting investments and the absolute order
of priority are safety, liquidity, and yield. Investments will be made in a
range of instruments and maturity dates to insure diversification and liquidity
of assets in an emergency or when a large cash outlay is necessary.
The instruments of investment to be used are Certificates of Deposit,
Local Agency Investment Fund, San Diego County Investment Pool, Treasury Bills,
U. S. Governmental Agency Obligations, Repurchase Agreements, and Savings
Accounts. Deposits will be fully collateralized as required by Government Code
Section 53652 or insured by the Federal Deposit Insurance Corporation or the
Federal Savings and Loan Insurance Corporation, and the "Contract for Deposit of
Monies" will indicate the type and amount of collateral.
Not more than 30% of District funds will be invested in any one single
banking institution and not more than 25% aggregate total will be invested with
savings and loans. Not more than 20% of District funds will be invested in
Governmental Agency Obligations. Exempt from these percentages are funds
advanced or in trustee accounts for project construction.
The District Auditor will use those investments permitted under the
Government Code of the State of California. All Certificates of Deposit shall
mature not later than one (1) year from the date of investment and Governmental
Instruments shall mature not later than three (3) years from the date of
investment.
No investment will be made pursuant to the provisions of Governmental
Code Section 53601.1 in financial futures or financial option contracts without
the prior approval of the Board of Directors.
Adhering to the provisions of this Statement of Investment Policy, the
Auditor is delegated the authority to invest with the guidance of the General
Manager and Controller. Only a Primary Government Securities Dealer will be used
for Agency Obligations. No deviation will be made from this policy without prior
Board approval.
A list of investments will be submitted to the Board each month,
indicating type, purchase and maturity dates, rate, amount, fund, and
percentages.
Resolution No. 947
Page Two
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Vallecitos Water District as follows:
SECTION 1: The Annual Statement of Investment Policy for fiscal year
1993-94 is hereby approved and the District Auditor is directed to follow this
Statement of Investment Policy in investing funds of the District.
PASSED, APPROVED, AND ADOPTED at a regular meeting held on this 16th
day of June, 1993, by the following roll call vote:
AYES: Cruz, Ferguson, Gregoryk, Mason
NOES:
ABSTAIN:
"2 s° t
Vallecitos Water District
ATTEST:
W~C~liam W. Rucker, Secretary
Board of Directors
Vallecitos Water District