ADMINISTRATIVE REPORT

                                                    Date:  November 3, 1995

   TO:       Vancouver City Council

   FROM:     Director of Finance

   SUBJECT:  Authority to Invest Funds - 1996


   RECOMMENDATION

        THAT the Director of Finance be  authorized, for the year 1996,  to
        invest  the  funds  of  the  following  accounts   as  same  become
        available, and to vary the investments from time to time  as may be
        expedient,  in  accordance with  Section 201,  259  and 260  of the
        Charter.

        A.   For  Sinking Fund Account,  Property Endowment  Fund, Cemetery
             Perpetual   Maintenance   Fund,   Captain  Vancouver's   Grave
             Maintenance Trust  Fund, Capital Financing  Fund, Taylor Manor
             Trust Funds

              -   Securities of or guaranteed by the Government of Canada;
              -   Securities of or guaranteed by a Province of Canada;
              -   Securities of the City of Vancouver;
              -   Securities of the Greater Vancouver Water District;
              -   Securities of the Greater Vancouver Sewerage and Drainage
                  District;
              -   Securities of the Greater Vancouver Regional District;
              -   Securities of the Municipal Finance Authority;
              -   Securities  of or  guaranteed  by any  chartered bank  in
                  Canada;
              -   Securities or  deposits in, or share or other evidence of
                  indebtedness of,  a Credit Union  incorporated under  the
                  Credit Unions Act.

        B.    For General and Capital Accounts

              -   Securities of or guaranteed by the Government of Canada;
              -   Securities of or guaranteed by a Province of Canada;
              -   Securities  of or  guaranteed  by any  chartered bank  in
                  Canada;
              -   Securities of the  GVRD, GVWD, MFA, or  City of Vancouver
                  which   mature  within   one  year   from  the   date  of
                  acquisition;
              -   Securities or  deposits in, or shares  or other evidences
                  of indebtedness of, a Credit Union incorporated under the
                  Credit Unions Act.



   MANAGER'S COMMENTS

        The General Manager of Corporate Services RECOMMENDS approval  of A
        and B.

   COUNCIL POLICY

   Council  has the  policy  to delegate  to  the Director  of Finance  the
   authorities which Council has under the Vancouver Charter with regard to
   the investment of the City's cash balances.

   SUMMARY

   The Director of  Finance has requested  to be authorized  to invest  the
   City's  cash balances (Section 201) including  the proceeds of debenture
   sales (Section 259) and cash in the Sinking Fund (Section 260).  Details
   of   these  investments  are  circulated   to  Council  each  month  for
   information.


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