City Council

9.b. CONSIDERATION AND APPROVAL OF RESOLUTION NO. 23-62,\nAUTHORIZING THE CITY TO JOIN WITH OTHER PUBLIC AGENCIES\nAS A PARTICIPANT OF THE CALIFORNIA ASSET MANAGEMENT\nTRUST AND TO INVEST IN SHARES OF THE TRUST AND IN\nINDIVIDUAL PORTFOLIOS\nAuthorize the City to join with other public agencies as a participant of the\nCalifornia Asset Management Trust and to invest in shares of the trust and\nin individual portfolios.\nRECOMMENDED ACTION: Staff recommends City Council:\n1. Adopt Resolution No. 23-62, authorizing the City of South El Monte to\njoin with other public agencies as a Shareholder of the California Asset\nManagement Trust, a joint powers authority (JPA), to invest in shares\nof the Trust and/or utilize an individual portfolio. Shareholders may\nchoose to join as an Investor or a Participant. Both receive the same\ninvestment results, but only Participants are members of the JPA; and\n2. Authorize Mayor to execute any and all documents.