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RESOLUTION NO. 8446 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS <br />ESTABLISHING A STATEMENT OF INVESTMENT POLICY AND <br />RESCINDING RESOLUTION NO. 8309 <br />WHEREAS, pursuant to Government Code sections 41001 through 41007, the City <br />Treasurer shall comply with all laws governing the deposit and securing of public funds; and <br />WHEREAS, investment guidelines and procedures are required to administer the daily <br />investing of the City's surplus cash; and <br />WHEREAS, an investment policy serves as the foundation of a local agency's investment <br />goals and priorities; and <br />WHEREAS, AB 2853 (2004) amended Government Code section 53646, making the annual <br />review and approval of investment policies of local agencies optional, which was previously <br />compulsory; and <br />WHEREAS, from time to time the policies related to investing need to be revised to reflect <br />investment instrument changes, economic conditions, and financial market considerations; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />REDLANDS AS FOLLOWS: <br />Section 1. The City Council herby adopts the Statement of Investment Policy ("Policy") <br />attached hereto as Exhibit "A". <br />Section 2. This Resolution and the Policy established by this Resolution, shall become <br />effective, March 16, 2023. <br />Section 3. That Resolution No. 8309 is hereby rescinded. <br />ADOPTED, SIGNED AND APPROVED this 7th day of March 023. <br />Eddie Tejeda, Mayor <br />ATTEST: <br />e Donaldson, City Clerk <br />1 <br />I:\Resolutions\Res 8400-8499\8446 Annual Investment Policy Resolution 2023.doc <br />