A9
                             ADMINISTRATIVE REPORT

                                                    Date:  November 5, 1996

   TO:       Vancouver City Council

   FROM:     Director of Finance

   SUBJECT:  Authority to Invest Funds - 1997


   RECOMMENDATION

        THAT the Director of Finance be authorized, for the year 1997, 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.

        -    For Sinking Fund Account, Property Endowment Fund, Cemetary
             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.

        -     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
        the foregoing.

   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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