R-8672
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FD:CMD:br/ord92893
council Meeting: Octobrer 12, 1993
Santa Monica, California
Resolution No. 8672 (CCS)
(City Council series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA REPEALING RESOLUTION 7091
ADOPTING A POLICY TO DIVEST CITY FUNDS
FROM BANKING/FINANCIAL INSTITUTIONS
AND BUSINESSES DOING BUSINESS
IN THE REPUBLIC OF
SOUTH AFRICA
WHEREAS, on September 10, 1985, the City Council of the City
of Santa Monica adopted Resolution 7091 which set forth a policy
to divest city funds from banking and financial institutions and
businesses doing business in the Republic of South Africa in
order to protest that country's policy of apartheid which in-
stitutionalized discrimination and violated the human rights of
more than twenty-three million South Africans; and
WHEREAS, the city of Santa Monica's divestment policy, in
concert with other similar policies of countries, states and
cities, and other groups throughout the world has been successful
in helping to bring an end to the policy of apartheid as
evidenced by action of the South African Parliament on September
23, 1993 creating a Transitional Executive Council of all races
to supervise the government as the country prepares for
democratic, multi-racial elections on April 27, 1994; and
WHEREAS, African National Congress President, Nelson Mandela
appealed to the united Nations on september 24, 1993 for the
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lifting of all economic sanctions against the Republic of South
Africa (with the exception of existing oil and arms embargoes) in
order to help create the necessary conditions for future
political, economic and social stability in the Republic of south
Africa; and
WHEREAS, responding to Mr. Mandela's plea, the President of
the united states has lifted most of the federal government's
remaining economic sanctions against the Republic of South
Africa, and called upon all states, cities, universities, labor
unions and others to quickly end their bans on doing business
with the Republic of South Africa;
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. Resolution 7091 of the city Council of the City
of Santa Monica adopting a policy to divest City funds from bank-
ing/financial institutions and businesses doing business in the
Republic of South Africa is hereby appealed.
SECTION 2. The citizens and government of the City of Santa
Monica which is united in its commitment to the guarantee of
human rights to people throughout the world urges all the
citizens and the government of the Republic of South Africa to
work together peacefully in their efforts to establish a truly
democratic society and government.
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SECTION 3. The city Clerk shall certify to the adoption of
this Resolution, and thenceforth and thereafter the same shall be
in full force and effect.
APPROVED AS TO FORM:
(Jopeph~awrence,
~ing city Attorney
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Adopted and approved this
12th
day of October
,1993
/J !if./(,
-tM"ayor - -
I hereby certify that the foregoing Resolution No, 8672
was duly adopted at a
meeting of the City CouncIl on the 12 th
day of October
,1993 by the
followmg vote'
AYES Abdo, Genser, Greenber, Holbrook, Olsen, Rosenste~n,
Vazquez
NOES.
ABSTAIN:
ABSENT:
ATTEST
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/ City Clerk U