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CASSELBERRY CITY COMMISSION <br />Minutes of February 27, 2012 -Regular Meeting <br />Page 7 of 12 <br />C. Resolution 12-2349 -Amending the City Investment PolicX <br />66A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AMENDING THE CITY <br />INVESTMENT POLICY; PROVIDING FOR CONFLICTS, SEVERABII,ITY AND AN EFFECTIVE <br />DATL` .9f <br />Staff Presentation: Ms. Rebecca Bowman, Interim Finance Director, stated Resolution 12-2349 provides for <br />amending the City Investment Policy. The existing policy was last updated on July 26, 2010 via Resolution <br />10-2145. The Bogdahn Group was selected as the City's investment advisor by Mr. Newlon in January 2012 <br />to provide periodic performance analysis on the City's investments, asset allocation, development of <br />investment policy guidelines and to provide repar•ts as requested. Mr. Mike Welker came forward and gave an <br />overview of the services the Bogdahn Group is providing to the City. Mr. Welker stated the Bogdahn Group <br />has reviewed the current investment policy and recommended the proposed amendments to the policy to <br />improve the effectiveness of the investment of the City's pol•tfolio while assuring that the City's investment <br />goals of safety, liquidity, income and transparency are met. <br />Budget Impact: There is no impact to the City Budget. The revisions to the Investment Policy are expected <br />to enhance the effectiveness of investment returns. <br />Recommendation: The Interim City Manager and the Interim Finance Director recommended approval of <br />Resolution 12-2349. <br />MOTION: Vice Mayor Hufford moved to approve item c, Resolution 12-2349 as presented. <br />Motion was seconded by Commissioner Solomon. Motion carried unanimously <br />by voice vote 5 - 0. <br />9® PIT LC EA l~GS <br />No items were scheduled on this agenda. <br />10. FI S'T EA IG F INANCES <br />A. First Reading of Ordinance 12-1371 -Moratorium on Internet Cafes and Similar <br />Uses MISC 12-01~ <br />The City Clerlc read Ordinance 12-1371 by title as follows: <br />"AN ORDINANCE OF THE CITY OF CASSELBERRY, FLORIDA, IMPOSING A TEMPORARY <br />MORATORIUM FOR 1S0 DAYS ON THE ISSUANCE OF ANY BUSINESS TAX LICENSE, <br />PERMIT, CONDITIONAL USE APPROVAL, SITE PLAN APPROVAL AND ANY OTHER <br />OFFICIAL ACTION OF THE CITY OF CASSELBERRY HAVING THE EFFECT OF <br />PERMITTING OR ALLOWING THE CONSTRUCTION AND/OR OPERATION OF CERTAIN <br />BUSINESSES WITHIN THE CITY OF CASSELBERRY, RELATED TO GAME ROOMS, <br />