Laserfiche WebLink
Investment Policy <br /> The City Council has established an Investment Advisory Committee and an Investment <br /> Oversight Committee. The Investment Advisory Committee consists of three members of the community <br /> with expertise in financial management. The members are appointed by the City Council and serve for a <br /> two year term. This committee's purpose is to independently review the City's investments to determine <br /> their consistency with the City's Investment Policy's principal objectives of safety, liquidity and yield, <br /> respectively. The Committee meets and reports to the City Council quarterly. <br /> The Investment Oversight Committee consists of the City Treasurer, Director of Finance and the <br /> City Manager or his/her designee. This Committee's purpose is to review reports to the City Council <br /> from the Investment Advisory Committee and prepare responses as required. They meet and report to <br /> the City Council quarterly. Their reports to the Council summarize their meetings and the <br /> recommendations of the Investment Advisory Committee. Their reports also contain an unedited copy of <br /> the Investment Advisory Committee's quarterly report. <br /> Orange makes investments only in accordance with the provisions of California Government <br /> Code Section 53600 et seq. Authorized investments include: <br /> United States Treasury Bills, Notes, Bonds and Strips; <br /> United States Government Agency issues; <br /> Banker's Acceptances; <br /> Commercial Paper; <br /> Medium Term Notes; <br /> Negotiable Certificates of Deposit; <br /> Repurchase Agreements; <br /> Local Agency Investment Fund; <br /> Non-Negotiable Certificates of Deposit; and <br /> Mutual Funds. <br /> Description of Leased Premises <br /> The following real property and improvements constitute the Leased Premises under the Orange <br /> Site Lease and Lease Agreement: <br /> The Leased Premises for Orange consist of the City Hall Complex located at 300 East Chapman <br /> Avenue in the City of Orange. This facility houses all of the City's main administrative divisions. The <br /> facility is made up of three separate buildings totaling approximately 45,000 square feet separated by <br /> function: Public Works 15,418 square feet; Finance 10,000 square feet; and, Administration 19,203 <br /> square feet. The property covers one square block on Chapman Avenue between Grand and Center. It <br /> is currently listed on the City's property and casualty insurance schedule as having an improvement <br /> value of$5,115,861. No value estimate was provided for the land underlying the facility. <br /> The City of Orange's Site Lease and Lease Agreement will support the City's share of the Bonds <br /> which is $3,475,000*. <br /> *Preliminary, subject to change. <br /> B-57 <br />