Reso 0725-06/1985 RESOLUTION NO. 725
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE SAN MARCOS COUNTY WATER DISTRICT
DIRECTING THE PREPARATION OF A MONTHLY
REPORT OF INVESTMENTS AND APPROVING
THE STATEMENT OF INVESTMENT POLICY
NOW, THEREFORE, the Board of Directors of the San Marcos
County Water District does find, determine and resolve as fol-
lows:
SECTION 1: The Statement of Investment Policy of the SAN
MARCOS COUNTY WATER DISTRICT, a copy of which is attached hereto,
marked Exhibit "A", and incorporated herein by reference,
prepared pursuant to Government Code Section 53646, is approved
and the District Auditor is directed to follow the Investment
Policy in investing funds of the District.
SECTION 2: The District Auditor shall prepare a Statement
of Investment Policy annually for review by the Board of
Directors in preparation of the annual budget of the District for
the forthcoming fiscal year.
SECTION 3: The District Auditor is directed to prepare a
Monthly Report to the District Manager and the Board of Directors
of the District showing the type of investment, institution, date
of maturity, amount of deposit, current market value for all se-
curities with a maturity of more than twelve (12) months, rate of
interest, and such further data as may be required by the Board
of Directors from time to time. The Monthly Report shall specify
in detail investments made pursuant to subdivision (i) of
Section 53601, Section 53601.1, and subdivision (i) of Section
53635. In the Monthly Report, a subsidiary ledger of investments
may be used in accordance with accepted accounting practices.
The Monthly Report shall state its relationship to the Statement
of Investment Policy.
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SECTION 4: The Monthly Report shall be included in the
agenda of the Regular monthly meeting of the Board of Directors.
PASSED AND ADOPTED at a Regular meeting of the Board of
Directors of the San Marcos County Water District this 17th Day
of June, 1985 by the following roll call vote:
AYES: Directors Mason, Rutherford, Ferguson, Mahr, Newport
NOES: Directors None
ABSTAIN: Directors N0ne
ABSENT: Directors None
Board of Directors
SAN MARCOS COUNTY WATER DISTRICT
ATTE ST:
William W. Rucker, Secretary
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EXHIBIT "A"
RESOLUTION NO. 725
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 pri-
ority are safety, liquidity, and yield. Investments will be made
in a range of instruments and maturity dates to insure diversi-
fication 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 in-
vestments shall mature not later than 365 days from the date of
investment.
All time deposits, certificates of deposits, and other de-
posit accounts shall be made at a depository wherein such depos-
its 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
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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
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 invest-
ments will be submitted to the Board each month.
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