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RESOLUTION NO. 02-12
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN,
CALIFORNIA, AUTHORIZING THE DEPOSIT AND INVESTMENT OF
EXCESS FUNDS WITH THE TREASURER OF ORANGE COUNTY
WHEREAS, Section 53684 of the California Government Code allows the City of Tustin to
deposit excess funds into the Orange County Treasury for purposes of investment by the
Orange County Treasurer-Tax Collector (the "County Treasurer"); and
WHEREAS, the City Council has determined or may determine from time to time that excess
funds of the City of Tustin exist which are not required for immediate use; and
WHEREAS, with the approval of the County Board of Supervisors and the consent of the
County Treasurer, the County Treasurer may accept for investment deposits of a local agency,
provided that the local agency is located within Orange County.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA,
resolves as follows:
SECTION 1: The City Council hereby finds that it may, from time to time, be advantageous
to make deposits for purposes of investment with the Orange County Treasurer.
SECTION 2: The City Council has received and carefully reviewed the Orange County
Treasurer's (the "Treasurer") Investment Policy Statement (the "IPS"), and is familiar with its contents.
Having considered and weighed the risks of investing (including but not limited to the risks of loss of
interest and principal) the City Council finds and determines that it is appropriate and legal to invest
its moneys in the Orange County Treasury as permitted by the IPS.
SECTION 3: To the extent that City of Tustin moneys are invested with the County, in whole
or in part, in the Extended Fund (as defined in the IPS), the City Council acknowledges that it has
reviewed and understands Net Asset Value ("NAV") risk that is discussed in Section XV of the IPS
and hereby finds and determines that investment of any of its moneys in the Extended Fund is
appropriate investment of its moneys.
SECTION 4: The City Council authorizes the deposit of moneys of the City of Tustin into the
County Treasury for purposes of investment by the County Treasurer in accordance with the
provisions of Section 53684 of the California Government Code and the "Agreement for the Deposit
and Investment of Excess Funds into the County Treasury" (the "Agreement"), which has been
presented to this City Council and which is approved in the form presented. The Mayor of Tustin is
hereby authorized and directed, for and in the name of the City of Tustin, to execute the Agreement
on behalf of the City of Tustin.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Tustin on the
15th day of April, 2002.
'Pamela Stoker
City Clerk
Je~f~er~l~ T,l~omas
Mayor
City of Tustin
RESOLUTION CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
RESOLUTION NO. 02-12
I, PAMELA STOKER, City Clerk and ex-officio Clerk of the City Council of the City of
Tustin, California, hereby certifies that the whole number of the members of the City
Council of the City of Tustin is five; and that the above and foregoing Resolution No. 02-
12 was adopted at a regular meeting of the City Council held on the 15th day of April,
2002, by the following vote:
COUNCILMEMBER AYES: Thomas, Worley, Bone, Doyle, Kawashima
COUNClLMEMBER NOES: None
COUNClLMEMBER ABSTAINED: None
COUNCILMEMBER ABSENT: None
Pamela Stoker, City Clerk