City Council

5. Resolution No. 2023-58: Investment Policy Update\na) Determine this action is exempt from the California Environmental Quality Act\n(CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines\nbecause this action will not result in a physical change to the environment, directly or\nindirectly; and\nb) Adopt Resolution No. 2023-58, A Resolution of the City Council of the City of\nNewport Beach, California, Finding Consistency with Stated Investment Objectives\nand Amending City Council Policy F-1 (Statement of Investment Policy) to Add\nClarifying Language that is Consistent With Government Code Section 53600, et\nseq. and to Allow for Greater Investment Diversification.\nStaff Report\nAttachment A - City Council Policy F-1 (redline)\nAttachment B - Resolution No. 2023-58