City Council

9. INVESTMENT MANAGEMENT AND ADVISORY SERVICES CONTRACT -\nCity Council consideration to award investment management and advisory services\ncontract for Fiscal Years 2026-27, 2027-28, and 2029-30. An investment management\nfirm strategically invests the City’s idle funds in a manner which provides maximum\nsecurity with best investment return, while meeting the daily cash flow demands of the\nCity and conforming to all state/province and local statutes governing the investment of\npublic funds.\nRECOMMENDED ACTION:\nCity Council:\n1. Award a three-year contract to PFM Asset Management, a division of U.S. Bancorp\nAsset Management, Inc., for investment management and advisory services in an\namount not to exceed $275,000 annually, for a total contract amount not to exceed\n$825,000.\n2. Authorize the City Manager or designee to execute up to two additional one-year\nrenewal options beginning in year four, not to exceed the annual contract amount of\n$275,000 plus adjustments necessary for changes in portfolio size in accordance with\nthe fee schedule.\n3. Authorize the City Manager or designee to execute all contracts and associated\ndocuments, subject to City Attorney review.