R-8628
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city council Meeting: July 27, 1993 Santa Monica, California
RESOLUTION NO. 8628(CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
MONICA ESTABLISHING INVESTMENT INSTRUCTIONS FOR THE
CEMETERY AND MAVSOLEUM PERPETUAL CARE FUNDS
WHEREAS, City Council previously adopted investment
instructions for the City'S Cemetery and Mausoleum Perpetual Care
Funds of up to 50% in equities, with the balance in fixed income
securitiesj and
.v.HEREAS, the total rate of return to the fund could be
increased by increasing the maximum investment in equities from 50% to
60%j and
WHEREAS, the earnings of the fund can only be used to pay
perpetual care activities, and therefore there is a need to maintain a
long-term investment horizon for the prlncipal of the fund,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1.
That the investment instructions for the
Cemetery and Mausoleum Perpetual Care Funds shall be:
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1. A maximum of 60% of the portfolio (cost basis) invested
in equitles (common stocks) consistent with the City's
South African invesment restrictions previously adopted.
2. The balance of the portfolio to be invested in fixed
income securities (long and/or short term), at the
discretion of the Investment Manager;
3. The Investment Manager shall maximize the total rate of
return to the Cemetery and Mausoleum Perpetual Care
Funds consistent with protection of the invested
principal.
SECTION 2. The City Clerk shall certify to the adopting of
thlS resolution, and thenceforth and thereafter the same shall be in
full force and effect.
APPROVED AS TO FOR}1:
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Adopted and approved thlS 27th day of July, 1993.
4 P/l
vi Mayor
I hereby certlfy that the foregolng Resolutlon No. 8628(CCS)
~1as duly adopted by the Clty Councll of the Clty of Santa Monlca
at a meetlng thereof held on July 27/ 1993 by the followlng
Councll vote
Ayes: Councllmembers: Abdo, Genser, Greenberg,
Holbrook, Olsen, Rosensteln,
Vazquez
Noes: Councllmembers. None
Abstaln: Councllmembers None
l~.bsent : Councllmembers None
ATTEST
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- Clty Cler~
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Attachment A
Of} of Santa l\lonica
RESOLUTION SO. 8629 (CCS)
A RESOLUTIO:\' OF THE CITY COL1NCIL OF THE CITY
OF SA~T A :\JONICA FI:\"DING THE CITY TO BE N COl\lPLI .\~CE \YITH THE
1992 CO:\"GESTIO:\" l\IA:'\AGE'IE'iT PROGRA~1 (Cl\lP) AND .\PPROYING THE
C\IP CONFOR\IAI\CE CHECKLIST
\VHEREAS. the Los Angeles Count:- MetropolItan Transportatlon Authont) ("MT A").
actmg as the Congestlon Management Agency for Los Angeles Count). adopted the CongestIOn
~lanagement Program (C~lP) on NO\ember 18. 1992, and
\VHEREAS. the adopted eMP reqU1res that l\1TA am1Ually determme that the County and
CItIes \\lthm the Count} are confonmng to all CM? reqmremems. and
\VHEREAS. the adopted C!\lP reqmres submittal to the !\ITA of the C~lP se1f-
certIficatlOn checklIst by Augmt 1. 1993 and
\VHEREAS. the CIt) CouncIl held a public meetmg on July 27. 1993.
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NO\V, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES HEREBY RESOLVE AS FOLLOWS
SECTION 1 That Clt) CouncIl of the Cll)' of Santa MOnica has taken all of the actIOns
reflected on the CMP Conformance ChecklI~t. attached hereto as ExhIbIt A and made a part
hereof. and that the CIty IS In conformance wnh all applIcable reqUlrements of the 1992 CMP
SECTION 2 That the Ot)' Clerk 5hall certlf) to the adoptIOn of tlus ResolutIOn and shall
for\\ard a copy of thIS ResolutIOn to the Los Angeles County Metropol1tan TransportatIOn
Authonty
APPROVED AS TO FORM
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USEPH LAWRENCE
Actlng City Attorney
\\ pfiles/lacmta/cmpreso
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Exhibit A
1992 C\1P CO:\'FOR'\IANCE CHECKLIST
ThIS checklIst must be submitted to the Los Angeles Count} Metropolltan Transportation
Authont) (MTA) by August 1 1993. The address for submlttal of the checklIst 1'0110\\5
Los Angeles County MetropolItan TransportatlOn Authonty
eM? Conformance ChecklIst (MS-nOO)
818 West Seventh Street. SUIte 1100
Los Angeles, CalIforma 90017
ThIS checklIst IS for the CIty of.
SANTA ~10NICA
A check mark In the box adjacent to each statement be1O\\ confirms that the CIty IS m
conformance \\ nil the statement
X Attached IS a resolutiOn. adopted by the Cay CouncIl at a publIc meetIng, approvmg the
transmlttal of thIs checkhst to 1\1TA The resolutlOn senes as e\ldence that the CIty IS
m conformance \\ Ith the CMP and each statement found on thIS checlJIst
X By June 15. 1993 the Cny has conducted annual traffic counts and calculated le\els of
sen Ice for selected artenal mtersecnons, as specIfIed 1t1 the traffic mOl11tonng procedures
found m the CMP HIgh,\a) and Road\\ay System Chapter
X The Clt) has adopted and Implemented a transportatIOn demand management ordmance
and a parkll1g ordll1ance \\ hIch are conSIstent \Hth the mltllmUm standards IdentIfied m
the eMP's TDM Element
X The CIty has adopted and Implemented a land use program to analyze the Impacts of ne\\
de\elopment on the eMP system and the assoCIated mItIgatIon cost~ The program IS
conSIstent \\lth the standards IdentIfIed In the Cl\lP's Land Use AnalySIS Program
Chapter
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Adopted and approved this 27th day of July, 1993.
(1 uJ;~
Lt' Mayor
I hereby certlfy that the foregolng Resolutlon No. 8629(CCS)
was duly adopted by the Clty Councl1 of the Clty of Santa Monlca
at a meetlng thereof held on July 27, 1993 by the followlng
Councll vote:
';:"yes Councllmembers: Abdo, Genser, Greenberg,
Holbrook, Olsen, Rosensteln,
Vazquez
Noes Councilmembers: None
.:;bstaln: Councilmembers: None
i>..bsent _ Councllmembers: None
ATTEST:
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C.Lty Clerk/'
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