HomeMy WebLinkAboutCC RESO 2020-6RESOLUTION NO. 2020 - 06
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
AUTHORIZING THE MAYOR TO EXECUTE THE FIRST AMENDMENT TO THE
AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY AND CHANDLER
ASSET MANAGEMENT, INC. FOR INVESTMENT MANAGEMENT AND INVESTMENT
ADVISORY SERVICES, EXTENDING THE AGREEMENT TO NOVEMBER 15, 2020
WHEREAS, the City desired to employ a consultant investment
management and investment advisory services for the City; and
WHEREAS, the City determined that Chandler Asset Management, Inc., is
an investment advisor registered with the Securities and Exchange Commission (SEC)
under the Investment Advisers Act of 1940, and is qualified by experience and ability to
perform the services desired by the City; and
WHEREAS, on November 15, 2016, the City entered into an Agreement with
Chandler Asset Management, Inc. to perform such services for a period of November 16,
2016 through November 15, 2019 with an option to extend for two additional one-year
terms; and
WHEREAS, staff seeks approval to execute the first one (1) year
amendment to extend the Agreement for a one year term ending November 15, 2020.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City hereby authorizes the Mayor to execute the first one (1) year amendment to
extend the Agreement with Chandler Asset Management, Inc. for a one year term ending
November 15, 2020 for investment management and investment advisory services for the
City. Said first amendment to the Agreement is on file in the office of the City Clerk.
PASSED and ADOPTED this 21st day of January, 20
Alejandra Sotelo-Solis, Mayor
ATTEST:
7 Michael RJalla, City Clerk
APPROVED AS TO FORM:
orris- ones
Ci A . rney
Passed and adopted by the Council of the City of National City, California, on
January 21, 2020 by the following vote, to -wit:
Ayes: Councilmembers Cano, Morrison, Quintero, Rios, Sotelo-Solis.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: ALEJANDRA SOTELO-SOLIS
Mayor of the City of National City, California
City Clerk of the City of National City, California
By:
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2020-6 of the City of National City, California, passed and adopted
by the Council of said City on January 21, 2020.
City Clerk of the City of National City, California
By:
Deputy