RECOMMENDATIONS
ADOPT Resolution No. 5206 to invest HUD and non-HUD funds according to HACCC’s Investment Policy.
BACKGROUND
California Government Code (CGC) Section 53646(a)(2)] requires staff to annually prepare and submit a statement of investment policy, and any changes thereto, to the Board of Commissioners for consideration at a public meeting.
HACCC’s Investment Policy was developed following guidelines set forth both by the State and the U.S. Department of Housing and Urban Development (HUD). In general, the State’s approach to investing public funds is outlined in CGC Section 53600.5, which reads as follows:
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