Resolution No. 393RESOLUTION NO. 393
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CYPRESS AUTHORIZING INVESTMENT OF PUBLIC FUNDS.
On motion of Councilman Gorzeman, duly seconded and unanimously
carried, the following resolution was adopted:
That the Director of Finance and the City Treasurer be and
the same are hereby authorized and directed to invest or to re-
invest funds of the City in "legal" securities or bank time
deposits and to sell or exchange securities so purchased and to
terminate or renew bank time deposits so made. Each of these
authorizations is to continue until the further order of
the City Council of the City of Cypress, all in accord with the
terms and provisions of Section 53607 of the Government Code
of the State of California.
These investments, deposits, sales of investments, ter-
mination or renewal of time deposits, are to be made by the
Director of Finance and the City Treasurer after consultation
and agreement with the City Attorney for the City of Cypress.
PASSED AND ADOPTED this 22nd day of July, 1963, by the
following roll call vote:
AYES: 5 COUNCILMEN: Gordon, Gorzeman, Van Dyke, Wright & Noe
NOES: 0 COUNCILMEN: None
ABSENT: 0 COUNCILMEN: None
ATTEST: