HomeMy WebLinkAboutAGENDA REPORT 2003 0319 CC REG ITEM 11BAC
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ORDINANCE NO. 293
AN ORDINANCE OF THE CITY OF MOORPARK,
CALIFORNIA, AMENDING SECTION 3.16.050
OF CHAPTER 3.16, INVESTMENT OF CITY
FUNDS, OF TITLE 3, REVENUE AND FINANCE
WHEREAS, Ordinance No. 2 was enacted by the Moorpark
City Council on July 20, 1983 to establish the Moorpark
Municipal Code; and
WHEREAS, Section 3.16.050 sets forth the requirement
for the City Treasurer to provide periodic reports to the
City Council containing information about City investments;
and
WHEREAS, the City Council now wishes to amend this
section to reflect newly legislated reporting requirements.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
MOORPARK, DOES ORDAIN AS FOLLOWS:
SECTION 1. Chapter 3.16, Investment of City Funds,
Section 3.16.050, Reports to Council, is hereby amended in
its entirety to read as follows:
"A. The city treasurer shall make a quarterly report
to the city council of all investments made pursuant to
the authority delegated in this chapter within thirty (30)
days following the end of the quarter. The city
treasurer shall submit copies of quarterly investment
reports to any oversight committee determined by state
law.
B. The city treasurer shall annually render a
statement of investment policy to the city council
which the city council shall review and approve at a
public meeting. The statement of investment policy
shall be submitted to any oversight committee
determined by state law."
Ordinance No. 293
Page 2
SECTION 2. If any section, subsection, sentence,
clause, phrase, part or portion of this Ordinance is for
any reason held to be invalid or unconstitutional by any
court of competent jurisdiction, such decision shall not
affect the validity of the remaining portions of this
Ordinance. The City Council declares that it would have
adopted this Ordinance and each section, subsection,
sentence, clause, phrase, part or portion thereof,
irrespective of the fact that any one or more section,
subsections, sentences, clauses, phrases, parts or portions
be declared invalid or unconstitutional.
SECTION 3. This Ordinance shall become effective
thirty (30) days after its passage and adoption.
SECTION 4. The City Clerk shall certify to the passage
and adoption of this Ordinance; shall enter the same in the
book of original ordinances of said City; shall make a
minute of the passage and adoption thereof in the records
of the proceedings of the City Council at which the same is
passed and adopted; and shall, within fifteen (15) days
after the passage and adoption thereof, cause the same to
be published once in the Moorpark Star, a weekly newspaper
of general circulation, as defined in Section 6008 of the
Government Code, for the City of Moorpark, and which is
hereby designated for that purpose.
PASSED AND ADOPTED this
ATTEST:
day of March 2003.
Patrick Hunter, Mayor
Deborah S. Traffenstedt, City Clerk
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