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} 0 _. _ • <br />CITY COUNCIL MEETING DATE: <br />JUNE 21, 2016 <br />TITLE: <br />STATEMENT OF INVESTMENT <br />POLICY AND MUNICIPAL SECURITIES DISCLOSURE <br />POLICY AND PROCEDURES <br />(STRATEGIC PLAN NO. 4, 1) <br />C. <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />UAIU=004 <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1 51 Reading <br />❑ Ordinance on 2nd Reading <br />❑ implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />1. Adopt a Resolution approving the City's Investment Policy <br />2. Adopt a Resolution approving the City's Municipal Securities Continuing Disclosure Policy & <br />Procedures <br />3. Receive and file the Annual Statement of Investment Policy <br />4. Receive and file the Municipal Securities Disclosure Policy & Procedures <br />DISCUSSION <br />Statement of Investment Policy <br />In accordance with state law the Finance and Management Services Agency has annually <br />submitted the City's Investment Policy (Policy) to the City Council. AB 2853 amended Section <br />53646 of the Government Code making the requirement to render a Statement of Investment <br />Policy to the City Council permissive rather than mandatory. However, the Finance and <br />Management Services Agency believes it to be both prudent and in keeping with the spirit of the <br />City's Sunshine Policy that such documents continue to be regularly provided. The Executive <br />Director, Finance and Management Services Agency, therefore continues to render to the City <br />Council an annual Statement of Investment Policy. <br />The Statement of Investment Policy outlines the City's investment guidelines, rules, and practices. <br />The primary goals of the City's investment policy are: <br />1) To assure compliance with all Federal, State, and local laws governing investment of monies. <br />2) To provide the safety of principal and sufficient liquidity. <br />55C -1 <br />