City Council

a. RESOLUTIONS AMENDING THE CITY’S INVESTMENT POLICY\nSummary:\nThe City Council, also acting as the City Council as Successor Agency\n(Successor Agency), will consider amending the City’s Investment Policy to\nprovide greater diversification of the City’s investment portfolio and update the\npolicy to conform to recent legislative changes. To provide greater investment\ndiversification, City Council will consider approving a resolution authorizing the\nCity of Signal Hill to join with other public agencies as a Shareholder of the\nCalifornia Asset Management Trust, a joint powers authority (JPA), to invest in\nshares of the Trust also known as California Asset Management Program\n(CAMP). Shareholders may choose to join as an Investor or a Participant; both\nreceive the same investment results, but only Participants are members of the\nJPA. The City Council will also consider authorizing an update to the investment\npolicy language due to recent legislative changes. In addition, the City Council\nas Successor Agency will consider amending a companion policy addressing\nSuccessor Agency funds.\nStrategic Plan Goal(s):\nGoal No. 1 Financial Stability: Ensure the City’s long-term financial stability\nand resilience.\nRecommendations:\nA. City Council to adopt a resolution, entitled:\nA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SIGNAL HILL,\nCALIFORNIA, AMENDING ITS INVESTMENT POLICY FOR PUBLIC\nFUNDS\nB. Successor Agency to adopt a resolution, entitled:\nA RESOLUTION OF THE CITY COUNCIL AS SUCCESSOR AGENCY OF\nTHE CITY OF SIGNAL HILL, CALIFORNIA, AMENDING ITS INVESTMENT\nPOLICY FOR PUBLIC FUNDS\nC. Approve the authorization to allow the City of Signal Hill to join as a\nparticipating shareholder of the California Asset Management Trust, a joint\npowers authority, to invest in shares of the Trust also known as CAMP.