City Council

D. Agreement with the Los Angeles County Metropolitan Transportation\nAuthority for One-Time Disbursement of Proposition C Funds to Fulfill\nUnprogrammed Surface Transportation Program – Local Balance, and\nAdoption of Resolution No. 2026-29 to Appropriate the Funds to the Valley\nBoulevard Resurfacing Project No. 21031 On April 24, 2025, the Los\nAngeles County Metropolitan Transportation Authority (LACMTA) Board\napproved using Proposition C funds for a one-time disbursement of funds\nProgram – Local balance. The amount that the City will receive is\n$153,186.00.\nRecommendation: That the City Council take the following actions:\n1. Authorize the City Manager to enter into a Fulfillment Agreement No.\n9200000000FUL24 with LACMTA to provide Proposition C funding in\nthe amount of $153,186.00 for use on the Valley Boulevard\nResurfacing project; and\n2. Adopt Resolution No. 2026-29 to appropriate $153,186.00 in Prop C\nfunding to the Valley Boulevard Resurfacing Project No. 21031.\nStaff Report\nPolicy The approval of this item approves the Annual Investment Policy\nand delegation of investment authority to the Finance Director/City\nTreasurer for FY 2026-27. Staff has reviewed the City’s current investment\npolicy in light of recent amendments to California law and recommends\nlimited updates to maintain consistency with current statutory authority\nand clarify certain policy provisions.\nRecommendation: That the City Council approve the proposed updates to the\nCity’s Investment Policy; and delegate investment authority to the City\nTreasurer for the upcoming year, in accordance with Government Code Section\n§53607.\nStaff Report