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MONTCLAIR CITY HALL - TEMPORARILY CLOSED TO VISITORS 

In response to additional guidance received by federal, state, and local public health officials, Montclair City Hall will be temporarily closed to the public beginning Wednesday, March 18, 2020, until further notice.

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Montclair Emergency Directive

SUBJECT: EMERGENCY DIRECTIVE TO IMMEDIATELY SUSPEND ALL OUTDOOR AND INDOOR SWAP MEET EVENTS AT MISSION TIKI DRIVE-IN THEATRE, 10798 RAMONA AVENUE, MONTCLAIR, CA 91763

On Monday, March 16, 2020, the Montclair City Council adopted Resolution No. 20-3263 declaring a local public health emergency in the City of Montclair in relation to Novel Coronavirus (COVID-19).

In declaring a local public health emergency, the City Council invoked Section 6.080.060 of Chapter 6.08 of Title 6 of the Montclair Municipal Code providing that the City Manager, as Director of Emergency Services, is empowered to "make and issue rules and regulations on matters reasonably related to the protection of life and property as affected by such emergency."

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Investment Policies

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PURPOSE 

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The purpose of this investment policy is (1) to fix the responsibility for investing surplus moneys with the City Treasurer and their designee; (2) to establish criteria for selecting investments; (3) to outline investment media in which a local agency may invest its surplus money; (4) to establish internal control procedures to assure the investment program is operated in a safe and prudent manner; and (5) to set forth the investment strategy. This policy shall continue until such time as it is revised or superseded by a subsequent investment policy.

 

TREASURER'S AUTHORITY TO INVEST SURPLUS MONEYS

It is the responsibility of the City Treasurer and their designee, the Finance Director, to invest the City's surplus moneys.  Government Code Section 53607 enables a city council to delegate its responsibility to invest surplus moneys to the treasurer, provided he submits to the council a monthly report of investment transactions (Treasurer's Report).

CRITERIA FOR INVESTMENT SELECTION

In accordance with Government Code Section 53600.5, the primary criteria, in priority of order, which investment decisions shall be based upon are as follows:

  1. SAFETY - Safety of principal is the most important criteria of investment.  Attention must be given to the continued solvency of financial institutions in which the City invests money.  Also, investments in long-term securities must be considered from the standpoint of potential losses incurred upon sale of securities to meet operating needs.
  2. LIQUIDITY - The City's investment portfolio will remain sufficiently liquid to meet all operating requirements that might be reasonably anticipated.
  3. YIELD (RETURN ON INVESTMENT) - Investments should be made with the objective of maximizing the rate of return consistent with safety and liquidity requirements.