Reso 0760-06/1986RESOLUTION NO. 760
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE SAN MARCOS COUNTY WATER DISTRICT
APPROVING STATEMENT OF INVESTMENT POLICY
FOR FISCAL YEAR 1986-87
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
San Marcos County Water District is as follows:
San Marcos County 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 District Auditor will use those investments permitted
under the Government Code of the State of california. All
investments shall mature not later than 365 days from the date
of investment.
All time deposits, certificates of deposit, and other
deposit accounts shall be made at a depository wherein such
deposits are insured by the Federal Deposit Insurance
Corporation, the Federal Savings & Loan Insurance Corporation
or collateral pledged as required by Government Code Section
53652.
The instruments of investment to be used are Certificates
of Deposit, Treasury Bills, Repurchase Agreements and Savings
Accounts. The investments will be fully collateralized 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 institution and not more than 25%
will be invested with savings and loans.
No investment will be made pursuant to the provisions of
Government 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 investment policy, the
Auditor is delegated the authority to invest, with the guidance
Resolution No. 760
Page 2
of the General Manager and Office Manager/Controller.
Investment brokers or dealers will not be used. No deviation
will be made from this policy without prior Board approval. A
list of investments will be submitted to the Board each month.
NOW, THEREFORE, the Board of Directors of
County Water District does find, determine
follows:
the San Marcos
and resolve as
Section 1: The Annual Statement of Investment Policy for
fiscal year 1986-87 is hereby approved and the District Auditor
is directed to follow this Investment Policy in investing funds
of the District.
PASSED, APPROVED AND ADOPTED by the Board of Directors of
the San Marcos County Water District at an Adjourned Regular
Meeting held this 23rd day of June, 1986 by the following roll
call vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Directors: Mason, Rutherford, Ferguson, Mahr, Newport
Directors: None
Directors: None
Directors: None
ATTEST:
San Marcos County Water District
William W. Rucker, Secretary
Board of Directors
San Marcos County Water District