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THE CITY OF 16 <br /> - -- "' CITY COUNCIL AGENDA REPORT <br /> pL E ASANTON. <br /> April 19, 2011 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION APPROVING THE INVESTMENT POLICY AND <br /> GUIDELINES OF THE CITY OF PLEASANTON <br /> SUMMARY <br /> Pursuant to California Government Code Section(s) 53601 and 53635, the City's <br /> investment policy (Policy) must be submitted to Council annually for adoption. The <br /> Policy has been expanded to allow, if desired, the City Council to hire professional <br /> investment advisers to manage some or all of the City's investment portfolio. If and <br /> when the City were to hire a professional investment adviser the City Council would <br /> need to approve the action. This report satisfies the legal requirement that the City <br /> Council adopt an annual investment policy. <br /> RECOMMENDATION <br /> Staff recommends that Council adopt the attached Investment Policy and Guidelines. <br /> FINANCIAL STATEMENT <br /> There is no direct fiscal impact in approving the Investment Policy and Guidelines of the <br /> City of Pleasanton. <br />