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MINUTE ORDER <br />JOINT CITY COUNCIL / SUCCESSOR AGENCY BOARD <br />PUBLIC FINANCING AUTHORITY MEETING <br />June 27. 2016 <br />MO. 16-129 <br />CITY CLERK DEPARTMENT <br />Redwood City <br />Date: July 18, 2016 <br />Attention: City Attorney <br />Finance Director <br />**hard copy available upon request** <br />SUBJECT: Investment Policy and agreement for independent professional <br />investment management services with PFM Asset Management, LLC <br />AGENDA ITEM: 6.11 (304) <br />Meeting of the Joint City Council/Successor Agency Board/Public Financing Authority of <br />Redwood City on June 27, 2016. <br />Present: Council Members, Aguirre, Borgens, Gee, Howard, Masur, Vice Mayor Bain and <br />Mayor Seybert. <br />Staff recommends that the City Council 1) review and approve by motion the revised <br />Investment Policy and 2) approve by motion the award of contract to PFM Asset <br />Management, LLC (PFM) for independent, professional investment management services <br />for a period of three years with an option to extend by two additional years <br />Council Member Gee requested that an amendment be made to item 6.1.1 to have quarterly <br />reports provided rather than monthly reports. <br />M/S Gee/Masur to approve item 6.1.1, as amended, to have quarterly reports versus monthly <br />reports. <br />Motion carried unanimously by electronic vote. <br />Melissa Thurman <br />Deputy City Clerk <br />