RESOLUTION NO. 99-08

A RESOLUTION OF THE BOARD OF DIRECTORS

OF THE SAN BENITO COUNTY WATER DISTRICT

RELATED TO

THE DISTRICT’S INVESTMENT POLICY

 

WHEREAS, Article 2 of Chapter 4 of the California Government Code sets forth the statutory requirements regarding Local Agency Investment Policies, their annual review and any changes in the Local Agency Investment Policy; and

WHEREAS, the District Investment Committee and Board of Directors have engaged in a detailed review of the District Investment Policy; and

WHEREAS, as a result of that review of the District Investment Policy significant clarifications and additions have been developed regarding the District’s Investment Program

NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the San Benito County Water District that:

  1. The Board authorization to purchase those investments set forth in Exhibit I which had, at the time of purchase, over five (5) years to maturity shall remain in full force and affect; and

  2. The investment policy set forth in Exhibit II, San Benito County Water District, Investment Policy is approved; and

  3. Resolution 97-1 and 97-5 are rescinded.

Passed and adopted this 24th day of March 1999 at Hollister California by the following votes:

AYES: DIRECTORS: Swanson, Perry, Gonzales, Tobias

NOES: DIRECTORS: None

ABSENT: DIRECTORS: Rupert

___________________________

President, Board of Directors

San Benito County Water District

ATTEST:

____________________________________

Janet L. Torres

Administrative Services Officer

 

 

 

 

EXHIBIT I

 

 

 

 

SAN BENITO COUNTY WATER DISTRICT

BOARD AUTHORIZED INVESTMENTS

Description

CUSIP

Number

Purchase

Date

Maturity

Date

300,000 U.S. TREASURY NOTE (6.250%)

912827U26

5/31/95

5/31/00

160,000 U.S. TREASURY NOTE (5.750%)

912827L83

11/20/95

8/15/03

280,000 U.S. TREASURY NOTE (5.875%)

912827N81

2/17/94

2/15/04

200,000 U.S. TREASURY NOTE (7.250%)

912827P89

2/17/94

5/15/04

50,000 U.S. TREASURY NOTE (6.500%)

912827U83

3/7/97

8/15/05

350,000 U.S. TREASURY NOTE (6.125%)

9128273EO

9/16/97

8/15/07

340,000 U.S. TREASURY NOTE (5.50%)

9128273X8

3/6/98

2/15/08

340,000 FNMA NOTE (6.720%)

  

7/14/97

7/14/04

* Investments held by the District on March 24, 1999 which had, at the time of purchase over five (5) years to maturity and the purchase of which was approved by Resolution 93-12.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Draft Resolution