HomeMy WebLinkAboutAgenda Packet_06282021•F •SE At
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A G E N D A
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MEETING OF THE CITY COUNCIL
Monday, June 28, 2021 - 7:00 PM
ALL COUNCIL MEMBERS AND STAFF WILL PARTICIPATE VIA
TELECONFERENCE
JOE KALMICK
MAYOR
First District
MIKE VARIPAPA
MAYOR PRO TEM
Third District
SCHELLY SUSTARSIC
COUNCIL MEMBER
Fourth District
THOMAS MOORE
COUNCIL MEMBER
Second District
SANDRA MASSA-LAVITT
COUNCIL MEMBER
Fifth District
This Agenda contains a brief general description of each item to be considered. No action or discussion
shall be taken on any item not appearing on the agenda, except as otherwise provided by law.
Supporting documents, including agenda staff reports, and any public writings distributed by the City
to at least a majority of the Council Members regarding any item on this agenda are available on the
City's website at www.sealbeachca.gov.
City Council meetings are broadcast live on Seal Beach TV3 and on the City's website
www. seal beachca.gov). Check the SBTV3 schedule for rebroadcast of — meetings are available on -
demand on the website (starting 2012).meeting
In compliance with the Americans with Disabilities Act of 1990, if you require disability - related
modification or accommodation to attend or participate in this meeting, including auxiliary aids or
services, please call the City Clerk' s office at (562) 431 -2527 at least 48 hours prior to the meeting.
NOTICE REGARDING PUBLIC OBSERVATION AND PARTICIPATION IN THE CITY
COUNCIL MEETING
To comply with Governor Newsom's Executive Order N-29-20 and the Amended Order
and Guidance of the Orange County Health Officer issued March 18, 2020 the City of
Seal Beach hereby gives notice of the "means by which members of the public may
observe the meeting and offer public comment" for the City Council meeting on
June 28, 2021. Due to the need for social distancing and the prohibition on public
gatherings set forth in the County Health Officer's Order, all participation in the above -
referenced Meeting will be by teleconference for the Members of the City Council and
staff. Because of the unique nature of the emergency there will NOT be a physical
meeting location and all public participation will be electronic.
PUBLIC COMMENT AND PUBLIC HEARING: Members of the public may submit
comments on any item ON this City Council meeting agenda via email to the City Clerk
at gharper@sealbeachca.gov or via the comment icon through the online portal
at https://www.seaIbeachca.gov/Government/Agendas-Notices-Meeting-Videos/Council-
Commission-Meetings . Those members of the public wishing to call in to comment are
asked to send contact information, including phone number to the City Clerk at
gharper@sealbeachca.gov, no later than 5:30pm on June 28, 2021 to receive
instructions on how to join the meeting. All email comments the City Clerk receives
before the start of the meeting will be posted on the City website and distributed to City
Council. Email comments received after that time will be posted on the City's website
and forwarded to the City Council after the meeting.
THIS NOTICE AND ELECTRONIC PARTICIPATION PROVISIONS SET FORTH IN
THIS NOTICE ARE PROVIDED PURSUANT TO SECTION 3 OF EXECUTIVE ORDER
N-29-20.
CALL TO ORDER
COUNCIL ROLL CALL
APPROVAL OF AGENDA & WAIVER OF FULL READING OF RESOLUTIONS
ORDINANCES
By motion of the City Council this is the time to notify the public of any changes to the
agenda and /or rearrange the order of the agenda.
PRESENTATIONS / RECOGNITIONS
• Seal Beach COVID-19 Local Emergency Review
• Swearing -In of New Police Officers — Pre-recorded
• Recognition of Motor Officer Cory Montgomery for being recognized by
Mothers Against Drunk Drivers (MADD) for DUI Arrests
• Naval Weapons Station Concurrent Legislative Jurisdiction Request
PUBLIC COMMUNICATIONS (VIA EMAIL AND CALL IN ONLY)
At this time members of the public may address the Council regarding the items on this
City Council agenda. Pursuant to the Brown Act, the Council cannot discuss or take
action on any items not on the agenda unless authorized by law.
Those members of the public wishing to provide comment are asked to send comments
via email to the City Clerk at gharper@sealbeachca.gov or via the comment icon on the
City website at https://www.sealbeachca.gov/Government/Agendas-Notices-Meeting-
Videos/Council-Commission-Meetings no later than 5:30 pm on June 28, 2021. Those
members of the public wishing to call in to comment during the Public Hearing portion of
the meeting are asked to send contact information, including phone number to the City
Clerk at gharper@sealbeachca.gov, no later than 5:30pm on June 28, 2021 to receive
instructions on how to join the meeting. Comments provided via email will be posted on
the City website for review by the public. Any documents for review should be sent to
the City Clerk prior to the meeting for distribution.
CITY ATTORNEY REPORT Craig A. Steele, City Attorney
CITY MANAGER REPORT Jill R. Ingram, City Manager
COUNCIL COMMENTS
General Council Member comments and reporting pursuant to AB 1234.
COUNCIL ITEMS — None
CONSENT CALENDAR
Items on the consent calendar are considered to be routine and are enacted by a single
motion with the exception of items removed by Council Members.
A. Approval of the June 14, 2021 City Council Minutes - That the City Council
approve the minutes of the Closed Session and Regular City Council meeting
held on June 14, 2021.
B. Demands on City Treasury (Fiscal Year 2021) — June 28, 2021 - Ratification.
C. Monthly Investment Report — May 31, 2021 - Receive and file.
D. Authorizing an Application for the Defense Community Infrastructure
Program Grant for Sewer Pump Station #35 Improvement Project - That the
City Council adopt Resolution 7168 authorizing the City Manager to submit a
Defense Community Infrastructure Program grant funding application for Sewer
Pump Station #35 Improvement Project.
E. Approving, Authorizing and Supporting the Change to Jurisdictional
Status of the Naval Weapons Station Seal Beach to Concurrent Legislative
Jurisdiction - That the City Council adopt Resolution 7169 approving,
authorizing, and supporting the change to the jurisdictional status of the Naval
Weapons Station Seal Beach to Concurrent Legislative Jurisdiction.
F. Fiscal Year 2021-22 Statement of Investment Policy and Delegation of
Authority - That the City Council adopt Resolution 7170 approving the FY
2021-22 Statement of Investment Policy and Delegation of Authority to the
Director of Finance/City Treasurer.
ITEMS REMOVED FROM THE CONSENT CALENDAR
PUBLIC HEARING
G. Resolution Adjusting the Bidding Threshold for Public Works Contracts
and Adjusting the City Manager's Contract Authority for the Acquisition
of Goods and Services - That the City Council adopt Resolution 7171: 1.
Confirming the adjustment of bidding threshold for Public Works contracts to
$36,514 pursuant to the City Charter Section 1010; and, 2. Adjusting the City
Manager's threshold to bind the City, with or without a written contract, for the
acquisition of equipment, materials, supplies, labor, services, or other items
within the budget approved by City Council to $36,514 pursuant to City Charter
420 and Resolution 6384.
H. Zone Text Amendment 21-2 Amending portions of Title 11 of the Seal Beach
Municipal Code regarding Regulations for the Placement of Flags and
Flagpoles on Residential Properties - That the City Council: 1. Hold a duly
noticed public hearing, and; 2. Introduce Zone Text 21-2 for first reading and
waive further reading of Ordinance 1689, amending Title 11 of the Seal Beach
Municipal Code regarding Regulations for the Placement of Flags and Flagpoles
on Residential Properties and Finding the Ordinance to be Exempt from the
California Environmental Quality Act, and; 3. Schedule the second reading of
Ordinance 1689 for the July 26, 2021 City Council meeting.
UNFINISHED / CONTINUED BUSINESS — None
NEW BUSINESS
I. Local Coastal Program - Update
Ul11116111 V ZIlyi14►II
Adjourn the City Council to Monday, July 26, 2021 (the July 12, 2021 meeting has been
cancelled), at 5:30 p.m. to meet in closed session, if deemed necessary.
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AGENDA STAFF REPORT
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DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Gloria D. Harper, City Clerk
SUBJECT: Approval of the June 14, 2021 City Council Minutes
SUMMARY OF REQUEST:
That the City Council approve the minutes of the Closed Session and Regular City
Council meeting held on June 14, 2021.
BACKGROUND AND ANALYSIS:
This section does not apply.
ENVIRONMENTAL IMPACT:
There is no environmental impact related to this item.
LEGAL ANALYSIS:
No legal analysis is required for this item.
FINANCIAL IMPACT:
There is no financial impact for this item.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
Agenda Item A
RECOMMENDATION:
That the City Council approve the minutes of the Closed Session and Regular City
Council meeting held on June 14, 2021.
SUBMITTED BY:
Gloria D. Harper
Gloria D. Harper, City Clerk
Prepared by: Dana Engstrom, Deputy City Clerk
ATTACHMENTS:
A. Minutes — Closed Session
B. Minutes — Regular Session
Page 2
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, City Manager
Seal Beach, California
June 14, 2021
The City Council met in Closed Session at 5:31 p.m. via teleconference.
ROLL CALL
Present: Mayor Kalmick
Council Members: Varipapa, Sustarsic, Massa-Lavitt, Moore
Absent: None
City Staff: Craig A. Steele, City Attorney
Jill R. Ingram, City Manager
Patrick Gallegos, Assistant City Manager
Gloria D. Harper, City Clerk
ORAL COMMUNICATIONS
Mayor Kalmick opened oral communications. City Clerk Harper announced that no
supplemental communications were received. Mayor Kalmick then closed oral
communications.
CLOSED SESSION
A. CONFERENCE WITH LABOR NEGOTIATOR
Government Code §54957.6 City Negotiator(s):
City Manager and Assistant City Manager
Employee Organization (s):
Police Officers Association
Police Management Association
Seal Beach Marine Safety Management Association
ADJOURNMENT
Mayor Kalmick adjourned the Closed Session meeting at 6:19 p.m.
Approved:
Attested:
Joe Kalmick, Mayor
Gloria D. Harper, City Clerk
Gloria D. Harper, City Clerk
City of Seal Beach
Seal Beach, California
June 14, 2021
The City Council met in Regular Session at 7:00 p.m. via teleconference.
ROLL CALL
Present: Mayor Kalmick
Council Members: Varipapa, Moore, Sustarsic, Massa-Lavitt
Absent: None
City Staff: Craig A. Steele, City Attorney
Jill R. Ingram, City Manager
Patrick Gallegos, Assistant City Manager
Philip L. Gonshak, Chief of Police
Joe Bailey, Chief, Marine Safety Department
Les Johnson, Director of Community Development
Kelly Telford, Director of Finance/City Treasurer
Gloria D. Harper, City Clerk
Dana Engstrom, Deputy City Clerk
Justin Truhill, Orange County Fire Authority, Battalion Chief
Iris Lee, Deputy Director of Public Works/City Engineer
Mario Aguilar, Water Operator
APPROVAL OF AGENDA & WAIVER OF FULL READING OF RESOLUTIONS AND
ORDINANCES
City Clerk Harper announced that four (4) supplemental communications were received
after posting of the agenda regarding various agenda items that were distributed to City
Council and made available to the public.
Council Member Sustarsic moved, second by Council Member Moore, to approve the
agenda.
City Clerk Harper took a roll call vote to approve the agenda.
AYES:
Kalmick, Varipapa, Moore, Sustarsic, Massa-Lavitt
NOES:
None
ABSENT:
None
ABSTAIN:
None
Motion carried
PRESENTATIONS / RECOGNITIONS
• Recognition of Police Chaplain George Vogel Retirement
• Recognition of Orange County Fire Authority Firefighter of the Year —
Fire Captain Lee Cabrera
• Introduction of Water Operator Mario Aguilar
• Annual Report of Orange County Human Relations
ORAL COMMUNICATIONS
Mayor Kalmick opened oral communications. City Clerk Harper announced that one (1)
email communication was received and distributed to Council via email and uploaded to
the City's website. Mayor Kalmick then closed oral communications.
CITY ATTORNEY REPORT
City Attorney Steele reported that prior to the meeting the City Council met in Closed
Session to discuss the one item posted on the agenda and indicated the City Council
took no reportable action.
Additionally, he informed City Council that on Friday, June 11, 2021 Governor Newson
issued a number of Executive Orders regarding the reopening process in California.
The most significant for local governments is the relaxation of the Brown Act rules
regarding public meetings, which will allow the City to continue to conduct meetings in a
virtual setting until September 30, 2021. In October, the City would be required to
conduct public meetings according to normal standards unless the City chooses to
return sooner.
CITY MANAGER REPORT
City Manager Ingram had no items to report.
COUNCIL COMMENTS
Council Member Moore asked for City Council consensus to bring back the oversized
vehicles in driveways ordinance for discussion at a future meeting prior to the end of the
year. He noted that there was an ordinance approved in 2013 that limits people from
leaving their trailer, boat or storage box in their driveway for over 72 hours. After
comments from the Council, there was consensus to bring the item back to Council for
discussion prior to end of the year.
Mayor Pro Tem Varipapa had no items to report.
Council Member Sustarsic indicated she attended a Regional Military Affairs Committee
meeting, the Budget Town Hall meeting, and Orange County Transportation Authority
Almond Wall Construction webinar. She provided an update on the Almond Wall
Construction project. Additionally, she thanked staff for bagging the street sweeping
signs in the Almond Avenue area for streets impacted during construction.
Mayor Kalmick announced that the First Street Park has been handed over to the City;
however, at the recommendation of the City Arborist, the City will not be opening the
park to the public for several weeks to allow for proper maintenance of the plants. He
attended a Town Hall meeting where Senator Tom Umberg spoke and provided very
informative information. Additionally, he attended a demonstration of the new heavy lift
helicopters that Orange County, Los Angels County, and Venture County Fire
Departments will utilize to respond to wildland fires. The helicopters are funded by
Southern California Edison. He indicated each helicopter can carry 3,000 gallons of fire
retardant or water and can operate at night.
COUNCIL ITEMS
There were no Council Items.
CONSENT CALENDAR
Council Member Massa-Lavitt moved, second by Council Member Sustarsic, to approve
the recommended actions on the consent calendar.
A. Approval of the May 24, 2021 City Council Minutes - That the City Council
approve the minutes of the Regular City Council meeting held on May 24, 2021.
B. Approval of the May 13, and May 25, 2021 City Council Minutes - That the City
Council approve the minutes of the Special City Council Budget Workshops held on
May 13, and May 25, 2021.
C. Demands on City Treasury (Fiscal Year 2021) — June 14, 2021 - Ratification.
D. Approval of Contract for Acceptance and Use of Permanent Local Housing
Allocation Funds to Assist the Leisure World Bathroom Accessibility Program
and Amendment to a Professional Services Agreement with CivicStone for
Administration of Funds - That the City Council adopt Resolution 7157: 1. Authorizing
the City Manager to enter into a contractual agreement with the County of Orange to
receive $49,151 in Permanent Local Housing Allocation (PLHA) funds for the Leisure
World Bathroom Accessibility Program; and, 2. Authorizing the City Manager to amend
an existing Professional Services Agreement with CivicStone for administration of the
PLHA funds.
E. Professional Services Agreement with Holistic System Integration Solutions
for Assistance with Implementation of Tyler EnerGov Software - That the City
Council adopt Resolution 7158 awarding and authorizing the City Manager to enter into
a Professional Services Agreement with Holistic System Integration Solutions for a not -
to -exceed amount of $77,000 for assistance with implementation of Tyler EnerGov
software.
F. Approving Submittal of FY 2021-2022 Measure M2 Eligibility Package and its
Components - That the City Council: 1. Adopt Resolution 7159 Concerning the Status
and Update of the Circulation Element and Mitigation Fee Program for the City of Seal
Beach; and 2. Adopt the 7 -year Measure M2 Capital Improvement Program (CIP) for
Fiscal Years 2021-2022 through 2027-2028; and, 3. Direct the City Manager to file the
adopted Resolution, CIP and the Measure M2 eligibility documents with OCTA in
compliance with the requirements of OCTA.
G. Notice of Completion for FY 2020-2021 Annual Local Paving Program, CIP
ST2102 - That the City Council adopt Resolution 7160: 1. Accepting the FY 2020-2021
Annual Local Paving Program, CIP ST2102 by Onyx Paving Company, Inc. in the
amount of $247,136.24; and, 2. Directing the City Clerk to file a "Notice of Completion"
with the Orange County Clerk -Recorder within fifteen (15) days from the date of
acceptance and to release retention 35 days after recordation of the Notice of
Completion contingent upon no claims being filed on the Project.
H. Awarding and Authorizing Execution of a Public Works Agreement with Noble
E&C, Inc. for City Hall Exterior Stairway Rehabilitation, CIP BG2102 - That the City
Council adopt Resolution 7161: 1. Approving plans, specifications, and contract
documents for the City Hall Exterior Stairway Rehabilitation, CIP BG2102; and, 2.
Approving and awarding a public works agreement to Noble E&C, Inc., in the amount of
$114,700, and waive minor bid irregularities; and, 3. Authorizing the City Manager to
execute the public works agreement for the City Hall Exterior Stairway Rehabilitation to
Noble E&C, Inc.; and, 4. Authorizing the City Manager to approve additional work
requests up to $55,000 and inspection services up to $10,000 in connection with the
Project, in the cumulative not -to -exceed amount of $65,000.
I. Adopting a Resolution Listing the Projects Funded by Senate Bill 1: Road
Repair and Accountability Act and Authorizing Submittal of the Project List and
Application for Road Maintenance Rehabilitation Account Funds to the California
Transportation Commission - That the City Council adopt Resolution 7162: 1.
Approving the project list for improvements that are to be funded by Senate Bill 1; and,
2. Authorizing the City Manager or designee to submit the project list and application for
Road Maintenance and Rehabilitation Account funds to the California Transportation
Commission.
J. Dixon Resources Unlimited Parking Support Services - That the City Council
adopt Resolution 7163: 1. Approving a Professional Service Agreement with Dixon
Resources Unlimited (Dixon) in the amount of $3,750 a month, not to exceed $45,000
per year for a total of three (3) years, not to exceed $135,000 for the term of the
contract; and, 2. Authorizing the City Manager to execute the Agreement.
City Clerk Harper took a roll call vote to approve the consent calendar items.
AYES:
Kalmick, Varipapa, Sustarsic, Moore, Massa-Lavitt
NOES:
None
ABSENT:
None
ABSTAIN:
None
Motion carried
ITEMS REMOVED FROM CONSENT CALENDAR
No items were removed from the consent calendar.
PUBLIC HEARING
K. Conduct Public Hearing for 2020 Urban Water Management Plan, Water
Shortage Contingency Plan, and Amendment to 2015 Urban Water Management
Plan - That the City Council adopt: 1. Resolution 7164, approving the 2020 Urban
Water Management Plan; and, 2. Resolution 7165, approving a Water Shortage
Contingency Plan; and, 3. Resolution 7166, approving an Addendum to the 2015 Urban
Water Management Plan to incorporate Appendix J — Reduced Delta Reliance
Reporting.
Deputy Director of Public Works/City Engineer Lee introduced Arcadius Senior Water
Engineer Sarina Sirboonlue who provided a comprehensive background on the staff
report. Council Member questions were addressed.
Mayor Kalmick opened the public hearing. Speakers: None. Mayor Kalmick closed the
public hearing.
Council Member Massa-Lavitt moved, second by Mayor Kalmick, to adopt 1. Resolution
7164, approving the 2020 Urban Water Management Plan; and, 2. Resolution 7165,
approving a Water Shortage Contingency Plan; and, 3. Resolution 7166, approving an
Addendum to the 2015 Urban Water Management Plan to incorporate Appendix J —
Reduced Delta Reliance Reporting.
City Clerk Harper took a roll call vote to approve Item K.
AYES:
Kalmick, Varipapa, Sustarsic, Moore, Massa-Lavitt
NOES:
None
ABSENT:
None
ABSTAIN:
None
Motion carried
L. Adopt the Fiscal Year 2021-22 Operating and Capital Improvement Budget; Set
the Appropriations Limit for Fiscal Year 2021-22; Reaffirm the previously
amended Fiscal Year 2020-21 Cost Recovery Schedule to be used for Fiscal Year
2021-22 - That the City Council hold a public hearing to adopt Resolution 7167 which: 1.
Adopt the Fiscal Year 2021-22 Operating and Capital Improvement Budget; and, 2. Sets
the Appropriations Limit for Fiscal Year 2021-22; and, 3. Approves the previously
adopted Fiscal Year 2020-21 Cost Recovery Schedule to be used for Fiscal Year 2021-
22.
Director of Finance/City Treasurer Telford provided a comprehensive background on
the proposed Fiscal Year 2021-22 Operation and Capital Improvement Budget. Council
Member questions were addressed and there was consensus to increase Council
discretionary funds to $20,000.
Mayor Kalmick opened the public hearing. Speakers: None. Mayor Kalmick closed the
public hearing.
City Council asked additional questions that were addressed by Director of Finance/City
Treasure Telford.
Council Member Moore moved, second by Council Member Sustarsic, to adopt
Resolution 7167 which: 1. Adopts the Fiscal Year 2021-22 Operating and Capital
Improvement Budget; and, 2. Sets the Appropriations Limit for Fiscal Year 2021-22;
and, 3. Approves the previously adopted Fiscal Year 2020-21 Cost Recovery Schedule
to be used for Fiscal Year 2021-22.
City Clerk Harper took a roll call vote to approve Item L.
AYES:
Kalmick, Varipapa, Sustarsic, Moore, Massa-Lavitt
NOES:
None
ABSENT:
None
ABSTAIN:
None
Motion carried
UNFINISHED/CONTINUED BUSINESS
There were no unfinished/continued business items.
NEW BUSINESS
There were no new business items.
ADJOURNMENT
Mayor Kalmick adjourned the City Council meeting at 8:18 pm to Monday, June 28,
2021 at 5:30 p.m. to meet in closed session, if deemed necessary.
Gloria D. Harper, City Clerk
City of Seal Beach
Approved:
Joe Kalmick, Mayor
Attested:
Gloria D. Harper, City Clerk
City of Seal Beach
Fiscal Year 2021
Warrant Listing for Council Meeting 6-28-2021
Approve by Minute Order Demands on Treasury:
Warrants-A/P: Checks 19995 - 20121 $ 4,111,734.59
$ 4,111,734.59 Year -to -Date: $ 35,608,316.44
Payroll: Payroll Direct Deposit $ 387,156.28
Payroll State & Federal Taxes $ 119,089.32
ICMA $ 22,680.47
Ca1PERS Pension $ 114,176.80
City of Seal Beach Flex Spending $ 1,421.75
$ 644,524.62 Year -to -Date: $ 16,021,646.85
Total Payroll:
Note: Year-to-date amounts are actual cash disbursements and do not reflect actual expenditures
due to year-end accruals.
Respectfully submitted by:
�Dl�Z y
Kelly Telf , CPA Da e
Director o inance/City Treasurer
City of Seal Beach Accounts Payable
User:vrodriguez Checks by Date - Detail by Check Number
Invoice No Description Reference Invoice Date
Check No: 19995 Check Date: 06/14/2021 Vendor: A-105 A-1 Copper Repipes
W21241 Double Payment on Permit 2021-703 05/14/2021
Check Total:
Check No: 19996 Check Date: 06/14/2021
699194 Services May 2021
Check No: 19997 Check Date: 06/14/2021
DIR000565 Freight on Shipment
Check No: 19998 Check Date: 06/14/2021
589000138780
Floor mat service (City Hall & City
589000138778
Floor mat service (City Hall & City
589000134898
Floor mat service (City Hall & City
589000134897
Floor mat service (City Hall & City
589000138780
Floor mat service (City Hall & City
589000138778
Floor mat service (City Hall & City
589000134898
Floor mat service (City Hall & City
589000134897
Floor mat service (City Hall & City
Vendor: AFLO1 AFLAC
Vendor: AQUA01
Vendor: ARA05
Check No:
19999 Check Date: 06/14/2021 Vendor: ARD
113873
General Engineering Inspection
114867
Services April 2021- SB Ocean Place
113873
Beach Yard Perimeter Wall Impr \ Bea
113873
OCTA 405 Widening Coop Agrmt \ OCTA
113873
On -Call Inspection PSA Amendment # 1.
Check No: 20000 Check Date: 06/14/2021 Vendor: AWA01
3847 Gold Aluminum Plate
06/01/2021
Check Total:
Aqua -Metric Sales Company
05/14/2021
Check Total:
Aramark Uniform Services
05/20/2021
05/20/2021
05/13/2021
05/13/2021
05/20/2021
05/20/2021
05/13/2021
05/13/2021
Check Total:
Ardurra Group Inc.
03/10/2021
05/10/2021
03/10/2021
03/10/2021
03/10/2021
Check Total:
Awards & Trophies
05/19/2021
Check Total:
Printed: 06/22/2021 11:45
Detail
Check Amount
107.22
107.22
2,229.95
2,229.95
19.78
19.78
49.13
55.34
49.13
55.34
49.14
55.34
49.14
55.34
417.90
150.00
568.00
710.00
2,769.00
5,822.00
10,019.00
15.62
15.62
Check No:
20001 Check Date: 06/14/2021 Vendor: BAY08
Bay Hardware
018891
Hex Bolts/ Hex Nut/ Washers
05/18/2021
159.82
355828
Washers/ Hex Nuts
05/13/2021
18.97
355793
Hex Bolt
05/11/2021
26.42
355792
Utility Gloves
05/11/2021
9.23
355782
Face Masks
05/10/2021
13.27
355583
Squeegee/ WD40
04/27/2021
36.83
355908
Credit/Retum- Quick Link Inv 354597
05/20/2021
-23.06
356052
Weatherstrip
05/28/2021
21.51
355944
Screws/ Nuts/ Bolts/ Anchors
05/21/2021
7.90
355407
Screws/ Nuts/ Bolts/ Anchors
04/15/2021
2.22
015504
Scratch Markers
04/27/2021
7.82
355883
Key Cutting/ Bypass Pruner/ Anchors
05/19/2021
53.56
355737
Screws/ Nuts/ Bolts/ Anchors
05/07/2021
5.55
016913
Multi -Code 2 Button Key Chain
05/04/2021
86.08
355681
Key Cutting
05/04/2021
22.38
355846
Chrome Strong Arm Tank Lever
05/14/2021
16.53
355475
Set Screw/ Dusk -Dawn Mounted Control
04/20/2021
16.85
355586
Key Cutting
04/27/2021
2.51
355818
Angle Valve- Credit/Return 355800
05/12/2021
-9.24
355800
Angle Valve/ Key Cutting
05/11/2021
20.25
355907
Safety Tape/Splatter Remover/Drill B
05/20/2021
27.38
355940
Key Cutting/ Key Stamping
05/21/2021
35.37
355900
Key Cutting/ Key Stamping
05/19/2021
17.07
355562
Soft Scrub Cleaner/ Bucket/ Pledge
04/26/2021
63.99
Page 1
City of Seal Beach
User:vrodriguez
Invoice No
DcserijltioT�
355178
Butt Connectors
355969
Gloves
355620
Tool Box/ Spring Snap/ S Hook
355589
Screws/ Nuts/ Bolts/ Anchors
355916
WD40 Spray
Accounts Payable
Checks by Date - Detail by Check Number
Reference Invoice Date
Check No: 20002 Check Date: 06/14/2021 Vendor: BAY10
18587878 Late Charge
Check No: 20003 Check Date: 06/14/2021 Vendor: BEA18
70-441 Furniture for CM's suite and City Cl
Check No: 20004 Check Date: 06/14/2021 Vendor: BEN11
IN1985648 Services Feb 2021
IN2023101 Services April 2021
IN2002291 ACA Employer Reporting- April 2021
IN1982304 ACA Employer Reporting- March 2021
IN2006049 Services March 2021
04/01/2021
05/23/2021
04/29/2021
04/27/2021
05/20/2021
Check Total:
Bay Alarm Company
05/15/2021
Check Total:
Beau Bureaux Interiors
05/21/2021
Check Total:
TASC - Client Invoice
03/04/2021
05/06/2021
04/01/2021
03/01/2021
04/07/2021
Check Total:
Printed: 06/22/2021 11:45
Detail
Check Amount
8.80
66.50
150.29
20.36
18.23
903.39
2.73
2.73
3,528.31
3,528.31
150.00
150.00
215.18
215.18
150.00
880.36
Check No:
20005 Check Date: 06/14/2021
Vendor: B0005
Bootbarn
196480
Work Boots- Mesa
05/18/2021
235.94
573245
Work Boots- Aguliar
05/18/2021
176.96
Check Total:
412.90
Check No:
20006 Check Date: 06/14/2021
Vendor: CAL13
California Live Scan
Apr21-004
Services April 2021
04/30/2021
270.00
May21-005
Services May 2021
05/31/2021
120.00
Mar21-003
Services March 2021
03/31/2021
30.00
Check Total:
420.00
Check No:
20007 Check Date: 06/14/2021
Vendor: CAL132
California State Lands Commiss
52519
Annual Rent 6-22-21 to 6-21-2022
04/16/2021
125.00
Check Total:
125.00
Check No:
20008 Check Date: 06/14/2021
Vendor: CAL80
CALIFORNIA JPIA
PRIM01955
Annual Contributions 2021-22
05/17/2021
763,688.00
PRIM01955
Annual Contributions 2021-22
05/17/2021
1,254,354.00
Check Total:
2,018,042.00
Check No:
20009 Check Date: 06/14/2021
Vendor: CAR55
Carson Trailer Inc
272801
Upgrade Axles on Emerg Services trai
05/06/2021
3,734.62
Check Total:
3,734.62
Check No:
20010 Check Date: 06/14/2021
Vendor: CAV04
Cavenaugh & Associates
W20670
DUI Seminar/ Kiehl/ Real Brook
05/20/2021
1,240.00
Check Total:
1,240.00
Check No:
20011 Check Date: 06/14/2021
Vendor: CHA35
Challenger Sports Corp
223171-01
Instructor Pay 1-1 to 6-4-2021
06/04/2021
1,421.40
Check Total:
1,421.40
Check No:
20012 Check Date: 06/14/2021
Vendor: CIN04
Cintas Corporation # 640
4083765880
Uniform Services 5-10-2021
05/10/2021
4.22
4085084063
Uniform Services 5-24-2021
05/24/2021
4.22
4084426802
Uniform Services 5-17-2021
05/17/2021
4.22
Page 2
City of Seal Beach
User:vrodriguez
Invoice No
Description
4083765880
Uniform Services 5-10-2021
4085084063
Uniform Services 5-24-2021
4084426802
Uniform Services 5-17-2021
4083765880
Uniform Services 5-10-2021
4085084063
Uniform Services 5-24-2021
4084426802
Uniform Services 5-17-2021
4083765880
Uniform Services 5-10-2021
4085084063
Uniform Services 5-24-2021
4084426802
Uniform Services 5-17-2021
4083765880
Uniform Services 5-10-2021
4085084063
Uniform Services 5-24-2021
4084426802
Uniform Services 5-17-2021
4083765880
Uniform Services 5-10-2021
4085084063
Uniform Services 5-24-2021
4084426802
Uniform Services 5-17-2021
Accounts Payable
Checks by Date - Detail by Check Number
Reference Invoice Date
Check No: 20013 Check Date: 06/14/2021 Vendor: CIT01
12400 Emergency Declaration 2020
Check No: 20014 Check Date: 06/14/2021 Vendor: CIV02
2021067 CDBG Leisure World Admin- April 2021
Check No: 20015 Check Date: 06/14/2021
955011441 Call for service- AC in PD Server Ro
Check No: 20016 Check Date: 06/14/2021
06.01.2021 Services 5-3 to 6-1-2021
Check No: 20017 Check Date: 06/14/2021
233020-04 Instructor Pay 1-1 to 6-4-2021
Check No: 20018 Check Date: 06/14/2021
25530 Remove existing wood door and fumis
Check No: 20019 Check Date: 06/14/2021
5.28.2021 Senior Nutrition Prog for Meals -May
Check No: 20020 Check Date: 06/14/2021
3064468 City Hall HVAC troubleshoot and repa
Check No: 20021 Check Date: 06/14/2021
2060 Muni Code Violations Jan - Mar 2021
Check No: 20022 Check Date: 06/14/2021
IN1256949 Solid Waste
Vendor: CLI06
05/10/2021
05/24/2021
05/17/2021
05/10/2021
05/24/2021
05/17/2021
05/10/2021
05/24/2021
05/17/2021
05/10/2021
05/24/2021
05/17/2021
05/10/2021
05/24/2021
05/17/2021
Check Total:
City Of Cypress
05/14/2021
Check Total:
Civicstone, Inc.
05/06/2021
Check Total:
Climatec LLC
05/07/2021
Check Total:
Vendor: COL36 CMY
06/01/2021
Check Total:
Vendor: COLLISONBrian Collison
Check No: 20023 Check Date: 06/14/2021 Vendor: CPOA CPOA
273960 Dept Membership 5-17 to 12-31-2021 05/17/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
4.15
4.15
4.15
18.32
18.32
18.32
36.00
110.16
147.84
28.86
28.86
28.86
8.50
8.50
8.50
486.15
1,250.00
1,250.00
6,242.50
6,242.50
1,185.00
1,185.00
4,829.60
4,829.60
741.00
741.00
2,038.88
2,038.88
5,000.00
5,000.00
610.00
610.00
1,377.90
1,377.90
266.00
266.00
1,150.00
Page 3
06/04/2021
Check Total:
Vendor: COM32
Commercial Door of Orange Coun
04/09/2021
Check Total:
Vendor: COM34
Community Senior Serv. Inc
05/28/2021
Check Total:
Vendor: con42
Control Air Holdings Inc
02/26/2021
Check Total:
Vendor: COU07
County Of Orange
05/15/2021
Check Total:
Vendor: COU27
County of Orange
05/07/2021
Check Total:
Check No: 20023 Check Date: 06/14/2021 Vendor: CPOA CPOA
273960 Dept Membership 5-17 to 12-31-2021 05/17/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
4.15
4.15
4.15
18.32
18.32
18.32
36.00
110.16
147.84
28.86
28.86
28.86
8.50
8.50
8.50
486.15
1,250.00
1,250.00
6,242.50
6,242.50
1,185.00
1,185.00
4,829.60
4,829.60
741.00
741.00
2,038.88
2,038.88
5,000.00
5,000.00
610.00
610.00
1,377.90
1,377.90
266.00
266.00
1,150.00
Page 3
City of Seal Beach
User:vrodriguez
Invoice. No I)escription
Accounts Payable
Checks by Date - Detail by Check Number
Reference Invoice Date
Check No: 20024 Check Date: 06/14/2021
83 Services May 2021
83 Services May 2021
83 Services May 2021
Check No: 20025 Check Date: 06/14/2021
INV2348 Annual Software Lic/Maint Renewal
Check No: 20026 Check Date: 06/14/2021
W21260 Mobile Home Park State Fee Permit 20
Check No: 20027 Check Date: 06/14/2021
508462 Services April 2021
Check No: 20028 Check Date: 06/14/2021
45850295X21052gervices 5-27 to 6-26-2021
57524152X2106CServices 6-1 to 6-30-2021
51798338X21052!7ervices 5-26 to 6-25-2021
Check No: 20029 Check Date: 06/14/2021
2818 Services April 2021
Check No: 20030 Check Date: 06/14/2021
49441 Services 7-2 to 10-1-2021
Check No: 20031 Check Date: 06/14/2021
W21203 Annual Membership Renewal
Check No: 20032 Check Date: 06/14/2021
2010-116D On -Call Grant Writing Services Counc
2010-116E On -Call Grant Writing Services Counc
Check No: 20033 Check Date: 06/14/2021
W20866 Community Gardens Refund
Check No: 20034 Check Date: 06/14/2021
R2156531 Services June 2021
Check No: 20035 Check Date: 06/14/2021
67 -12501 -CU Rent- June 2021
Check No: 20036 Check Date: 06/14/2021
INV00042024 Monthly Rental May 2021
Vendor: DIR09 DIRECTV
Check Total:
Vendor: DAN02
Brenda Danielson
06/01/2021
06/01/2021
Vendor: DIX
06/01/2021
Check Total:
Vendor: DAT07
Datamatic, Inc.
Vendor: DOS03
05/31/2021
Check Total:
Vendor: DEP09
Dept. of Housing & Com. Dev.
Vendor: ENG04
05/19/2021
Check Total:
Vendor: DEPART
Department of Justice
Vendor: ENG08
05/06/2021
Check Total:
Vendor: DIR09 DIRECTV
Vendor: ESTRADA2 Eva Estrada
05/24/2021
Check Total:
Vendor: EVER02 Eversoft Inc.
06/01/2021
Check Total:
Vendor: FAR8 Farmers & Merchants Bank
06/01/2021
Check Total:
Vendor: FDS FDS Holdings Inc
05/31/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
1,150.00
Page 4
1,182.40
5,409.31
3,600.00
10,191.71
5,441.45
5,441.45
400.00
400.00
608.00
608.00
238.99
186.98
160.99
586.96
6,596.25
6,596.25
1,656.00
1,656.00
60.00
60.00
2,942.50
1,782.50
4,725.00
75.00
75.00
201.52
201.52
951.93
951.93
100.00
05/28/2021
06/02/2021
05/27/2021
Check Total:
Vendor: DIX
Dixon Resources Unlimited
04/30/2021
Check Total:
Vendor: DOS03
Dossier Systems
05/31/2021
Check Total:
Vendor: ENG04
Engineering News -Record
06/02/2021
Check Total:
Vendor: ENG08
Engineering Solutions Services
05/21/2021
05/21/2021
Check Total:
Vendor: ESTRADA2 Eva Estrada
05/24/2021
Check Total:
Vendor: EVER02 Eversoft Inc.
06/01/2021
Check Total:
Vendor: FAR8 Farmers & Merchants Bank
06/01/2021
Check Total:
Vendor: FDS FDS Holdings Inc
05/31/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
1,150.00
Page 4
1,182.40
5,409.31
3,600.00
10,191.71
5,441.45
5,441.45
400.00
400.00
608.00
608.00
238.99
186.98
160.99
586.96
6,596.25
6,596.25
1,656.00
1,656.00
60.00
60.00
2,942.50
1,782.50
4,725.00
75.00
75.00
201.52
201.52
951.93
951.93
100.00
City of Seal Beach Accounts Payable Printed: 06/22/2021 11:45
User:vrodriguez Checks by Date - Detail by Check Number Detail
Invoice No Description
Reference
Invoice Date
Check Total:
Check No: 20037 Check Date: 06/14/2021 Vendor: FOR09 Robin Forte-Lincke
W21298 TV Origination Services -Payment #23 06/02/2021
Check Total:
Check No: 20038 Check Date: 06/14/2021 Vendor: FRO02 Frontier Communications
5624316879/6-2 1 Services 5-25 to 6-24-2021 05/25/2021
5625986069/6-2 1 Services 5-25 to 6-24-2021 05/25/2021
5625988560/6-2 1 Services 5-28 to 6-27-2021 05/28/2021
Check Total:
Check No: 20039 Check Date: 06/14/2021 Vendor: GAL08 Galls, LLC
BC1282775 Redback USBBK boots, size 9 01/27/2021
Check Total:
Check No:
20040 Check Date: 06/14/2021
9901877374
Door Closer
9911221373
GP Motor
9906820775
Rain Jacket Class 3, Rain Bib Overal
9906820767
24 each, Safety glasses for water de
9906820783
Key Cabinet Digital Lock
9906820783
Key Cabinet Digital Lock
Check No: 20041 Check Date: 06/14/2021
BL35697 Sifting belt, channel, tine stud, st
Vendor: GRA08 Grainger
Vendor: HBA
Check No: 20042 Check Date: 06/14/2021 Vendor: HDO1
0166895 One (1) each, ZDE - Chlorinator with
N846965 Two (2) each, 655 1/2 3/8" Diamond p
Check No: 20043 Check Date: 06/14/2021 Vendor: HIS01
25989 Remove/Install Axon Video System
25985 Convert PD jail car back to a PD adm
25988 Up -fit new 2021 Ford Explorer Pursui
Check No: 20044 Check Date: 06/14/2021 Vendor: HOM01
7624263 Tubing/ Paint/ Heat Gun
2300943 Tough Tote/ Sand Belt/Key Tags/Blade
9020727 Paint/ Blades/ Outlet Plate/ Stakes
8681590 Sound Meter with SD Card
1021303 Pebbles
1021315 Anchor Kit/ Lumber
1170079 Primo SS Bottom Load
2300943 Tough Tote/ Sand Belt/Key Tags/Blade
3102784 l OCU Retro Red
Check No: 20045 Check Date: 06/14/2021
10183415 Services July 2021
Check No: 20046 Check Date: 06/14/2021
SBIU02104 Used Oil Recycling- April 2021
05/14/2021
05/24/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
Check Total:
H. Barber & Sons Inc
05/06/2021
Check Total:
Core & Main LP
05/11/2021
05/11/2021
Check Total:
Hi Standard Automotive LLC
05/28/2021
05/25/2021
03/10/2021
Check Total:
Home Depot Credit Services
05/25/2021
05/20/2021
05/13/2021
04/14/2021
05/21/2021
05/21/2021
05/01/2021
05/20/2021
04/19/2021
Check Total:
Vendor: HOT02 HotSchedules,Red Book Solution
06/01/2021
Check Total:
Vendor: HUN1I John L. Hunter & Associates, Inc.
05/28/2021
Check Amount
100.00
1,453.50
1,453.50
127.16
127.16
57.82
312.14
185.03
185.03
105.87
91.06
159.07
237.77
69.73
69.72
733.22
4,913.10
4,913.10
891.75
429.57
1,321.32
180.00
1,064.31
9,847.47
11,091.78
Page 5
412.67
330.62
540.37
374.72
60.19
714.63
210.98
330.62
602.48
3,577.28
157.16
157.16
155.00
City of Seal Beach
User:vrodriguez
Invoice No Description
Accounts Payable
Checks by Date - Detail by Check Number
Ref
Check No: 20047 Check Date: 06/14/2021
1346144 PD Server room HVAC issues
Check No: 20048 Check Date: 06/14/2021
000401 Retention
000401 Navy Res. Ext. Cathodic Protec \ Nav
Check No: 20049 Check Date: 06/14/2021
109303 Water Wall Rental 4-20 to 5-19-2021
Check No: 20050 Check Date: 06/14/2021
1555
Remove and replace union on cell - L
1554
Install new union on chlorine nova c
1556
Acid wash at Bolsa Chica Well for ch
1553
Repair Bolsa Chica well brine level
1552
Acid wash - Bolsa Chica - Chlor-tec
Check No: 20051 Check Date: 06/14/2021
4054 Electrical and installation of kiosk
4050 Tennis Center & Heather Park tennis
Check No: 20052 Check Date: 06/14/2021
22285301 Sprinkler Test & Inspect, 911 Seal B
22284120 Fire Alarm Test and Inspection
Check No: 20053 Check Date: 06/14/2021
3430 Install towers telephone lines
Check No: 20054 Check Date: 06/14/2021
90411351 Hydraulic tine drum motor for the Be
90410110 Parts for the BeachTech sand sanitiz
Check No: 20055 Check Date: 06/14/2021
40432 Geotechnical Review 04021-131 -April
40431 Geotechnical Review 04021-130 -April
Check No: 20056 Check Date: 06/14/2021
44145 Vehicle Accounting and Inventory Ser
Check No: 20057 Check Date: 06/14/2021
77PI0131 McGaugh Electricity 1-4 to 5-2-2021
77PI0132 McGaugh Gas 12-18-20 to 3-22-2021
Check No: 20058 Check Date: 06/14/2021
R13783 Labor to Rekey Lock
erence
Invoice Date
Check Total:
Vendor: irv05
Irvine Valley Air Conditioning
Vendor: KLING01
05/07/2021
Check Total:
Vendor: J&L
J & L Constructors Inc
05/10/2021
Vendor: LAN06
05/10/2021
Check Total:
Vendor: JCLO1
JCL Traffic Services
Vendor: LOS02
05/20/2021
Check Total:
Vendor: JENKINS3 Jeffrey Dale Jenkins
05/13/2021
05/20/2021
Check Total:
05/20/2021
Los Alamitos Lock Service, Inc
05/20/2021
05/18/2021
05/20/2021
05/20/2021
Check Total:
Vendor: JET
Jeta Group Inc
05/27/2021
05/14/2021
Check Total:
Vendor: JOH20
Johnson Controls, Inc.
05/20/2021
05/19/2021
Check Total:
Vendor: JPM02
JIM Creative Business Solution
04/29/2021
Check Total:
Vendor: KAS04 Kassbohrer All Terrain Vehicle
Printed: 06/22/2021 11:45
Detail
Check Amount
155.00
622.61
622.61
-500.00
10,000.00
9,500.00
2,520.00
2,520.00
578.20
852.65
787.00
735.79
787.00
3,740.64
1,730.00
6,820.00
8,550.00
822.01
1,150.81
1,972.82
950.00
950.00
1,222.18
1,148.51
2,370.69
800.00
800.00
1,600.00
496.00
496.00
6,875.82
10,522.48
17,398.30
315.41
Page 6
05/28/2021
05/11/2021
Check Total:
Vendor: KLING01
Kling Consulting Group Inc.
04/30/2021
04/30/2021
Check Total:
Vendor: LAN06
Lance, Soil & Lunghard LLP
05/20/2021
Check Total:
Vendor: LOS02
Los Alamitos Unified School Di
05/13/2021
05/13/2021
Check Total:
Vendor: LOS25
Los Alamitos Lock Service, Inc
05/18/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
155.00
622.61
622.61
-500.00
10,000.00
9,500.00
2,520.00
2,520.00
578.20
852.65
787.00
735.79
787.00
3,740.64
1,730.00
6,820.00
8,550.00
822.01
1,150.81
1,972.82
950.00
950.00
1,222.18
1,148.51
2,370.69
800.00
800.00
1,600.00
496.00
496.00
6,875.82
10,522.48
17,398.30
315.41
Page 6
City of Seal Beach Accounts Payable
User:vrodriguez Checks by Date - Detail by Check Number
Invoice No Descri»tiori Reference Invoice Date
Check Total:
Check No: 20059 Check Date: 06/14/2021 Vendor: LOS47 Los AL Builders LLC
W21091 Double Payment Permits 2021-718/2021 05/26/2021
W21091 Double Payment Permits 2021-718/2021 05/26/2021
W21091 Double Payment Permits 2021-718/2021 05/26/2021
W21091 Double Payment Permits 2021-718/2021 05/26/2021
W21091 Double Payment Permits 2021-718/2021 05/26/2021
Check No: 20060 Check Date: 06/14/2021
101148 Seal Beach Marketing and Promotion
Check No: 20061 Check Date: 06/14/2021
7N484178 Services June 2021
Check No: 20062 Check Date: 06/14/2021
INV63428 SMSS ADA Bottle Filler Drinking Foun
Check No: 20063 Check Date: 06/14/2021
1113641 Seal Beach Traffic Signal Sync \ Sea
Check No: 20064 Check Date: 06/14/2021
1247 Services Pole Pruner
Check No: 20065 Check Date: 06/14/2021
4/30/2021 Temporary Accounting Services -April
Check No: 20066 Check Date: 06/14/2021
3641 Seal Beach PD Membership Renewal
Check Total:
Vendor: MACHEN Debra Machen
03/03/2021
Check Total:
Vendor: MCI01 MCI Comm Services
05/19/2021
Check Total:
Vendor: MDF02 Mdf
Vendor: MIC14
Vendor: MRB01
Vendor: MVC01
Vendor: NAT16
Check No: 20067 Check Date: 06/14/2021 Vendor: NU01
5.10.2021 CDBG Bathroom Access Grant -Hicks 20 -
Check No: 20068 Check Date: 06/14/2021 Vendor: OFF05
173456495001
Cabinet
172400015001
Folders
172985516001
USB Drive
172994680001
USB Drive
172994685001
USB
172985516002
Large Blue/Red Wall
172994682001
USB
172770669001
Water
172399892001
Wireless Mouse
Check No: 20069 Check Date: 06/14/2021 Vendor: OFF11
I-01877491 Battery
I-01876178 Binders
I-01873664 Pens/ Cartridges/ Binders
1-01873654 Water
05/11/2021
Check Total:
Michael Baker International In
05/25/2021
Check Total:
Felix Ulloa
05/19/2021
Check Total:
MV Cheng & Associates
05/08/2021
Check Total:
National Tactical Officers Ass
05/27/2021
Check Total:
NU Kote
05/10/2021
Check Total:
Office Depot, Inc.
05/25/2021
05/13/2021
05/14/2021
05/14/2021
05/17/2021
05/19/2021
05/14/2021
05/21/2021
05/13/2021
Check Total:
Office Solutions Business Prod
05/26/2021
05/21/2021
05/14/2021
05/14/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
315.41
8.50
7.25
7.59
45.00
1.50
69.84
2,215.28
2,215.28
40.78
40.78
5,448.13
5,448.13
14,007.07
14,007.07
Page 7
187.36
187.36
7,050.00
7,050.00
450.00
450.00
1,910.00
1,910.00
86.23
84.59
54.27
107.47
21.74
26.09
21.73
54.32
16.63
473.07
42.00
36.50
130.76
39.04
City of Seal Beach
Accounts Payable
User:vrodriguez Checks by Date - Detail by Check Number
Invoice No
descrintian Reference
Invoice Date
I-01873979
Tape
05/17/2021
I-01877549
Labels
05/26/2021
1-01877079
Cups/ Coffee/ Tea
05/25/2021
I-01874573
Pens/ Labels/ Paper
05/18/2021
1-01874866
Binders
05/19/2021
1-01874561
Masks/Inkcart/ Cleaner/Wipes/Battery
05/18/2021
I-01876507
Shop Towels/ Mop Head/ Duster
05/24/2021
Check Total:
Check No:
20070 Check Date: 06/14/2021
Vendor: ONP05
On Point Exterminating Inc
8316
Pest Extermination Edison Park -May 2
05/14/2021
Check Total:
Check No:
20071 Check Date: 06/14/2021
Vendor: ONYX
Onyx Paving Co.
2
Retention ST2102ex-039
05/26/2021
1
Retention ST2102ex-039
04/30/2021
2
Annual Local Paving Program \ Annual
05/26/2021
1
Annual Local Paving Program \ Annual
04/30/2021
Check Total:
Check No:
20072 Check Date: 06/14/2021
Vendor: ORA24
Orange County Fire Auth.
50431774
Services 4th Qrt FY 20-21
05/13/2021
Check Total:
Check No:
20073 Check Date: 06/14/2021
Vendor: PFM
PFM Asset Management LLC
SMA-M0421-235134restment Advisory Services April 2
04/30/2021
Check Total:
Check No:
20074 Check Date: 06/14/2021
Vendor: PHO02
Phoenix Group
000198
Services March 2021
04/26/2021
000205
Services April 2021
05/18/2021
Check Total:
Check No: 20075 Check Date: 06/14/2021 Vendor: PIT03
3104729305 Rental PD 3-20 to 6-19-2021
3104730094 Rental PD 3-20 to 6-19-2021
Check No: 20076 Check Date: 06/14/2021 Vendor: PSY01
525233 Pre Employment HM
Check No: 20077 Check Date: 06/14/2021 Vendor: PVP01
129234 Shoei NeotecII Helmet and communicat
Check No: 20078 Check Date: 06/14/2021 Vendor: QUI09
W0370157340 Performed Annual Inspection
Check No: 20079 Check Date: 06/14/2021 Vendor: REA03
I lE0027940022 Services 4-15 to 5-14-2021
OIE6702767435 Services 4-15 to 5-14-2021
OIE6702767435 Services 4-15 to 5-14-2021
Check No: 20080 Check Date: 06/14/2021 Vendor: RICO2
231935 Retainer May 2021
Pitney Bowes Inc.
05/16/2021
05/16/2021
Check Total:
Psychological Consulting Assoc
04/30/2021
Check Total:
PVP Communication
05/07/2021
Check Total:
Quinn Power Systems
03/10/2021
Check Total:
Ready Refresh by Nestle
05/18/2021
05/18/2021
05/18/2021
Check Total:
Richards Watson & Gershon
05/24/2021
Printed: 06/22/2021 11:45
Detail
Check Amount
6.37
4.40
40.95
88.22
16.14
434.18
130.52
969.08
150.00
150.00
-960.95
-11,395.88
19,218.84
227,917.41
234,779.42
1,505,294.25
1,505,294.25
2,296.28
2,296.28
1,912.20
498.80
2,411.00
442.62
168.27
610.89
400.00
400.00
1,414.76
1,414.76
662.50
662.50
126.82
34.70
34.70
196.22
20,500.00
Page 8
City of Seal Beach
Accounts Payable
Printed: 06/22/2021 11:45
User:vrodriguez Checks by Date - Detail by Check Number
Detail
Invoice No Description
Reference Invoice Date
Check Amount
Check Total:
20,500.00
Check No: 20081 Check Date: 06/14/2021
Vendor: ROGERSO4 Gary Rogers
233040-03 Instructor Pay 1-1 to 6-4-2021
06/04/2021
858.00
Check Total:
858.00
Check No: 20082 Check Date: 06/14/2021
Vendor: RUIZ05 Victor Ruiz
W20671 Reimb. K9 Supplies
06/02/2021
552.37
Check Total:
552.37
Check No: 20083 Check Date: 06/14/2021
Vendor: SAF10 Safeshred Company, Inc.
323935 Services April 2021
04/30/2021
15.00
323934 Services April 2021
04/30/2021
54.00
Check Total:
69.00
Check No: 20084 Check Date: 06/14/2021
Vendor: SCE01 Southern Calif. Edison
700067356541 Services 4-30 to 5-31-2021
06/01/2021
32.49
700120437466 Services 4-14 to 5-25-2021
05/26/2021
5,386.24
700397174224 Services 4-30 to 5-31-2021
06/01/2021
85.76
700120048961 Services 4-15 to 5-13-2021
06/01/2021
1,833.60
700067356541 Services 4-30 to 5-31-2021
06/01/2021
100.27
700064744918 Services 5-5 to 6-3-2021
06/04/2021
28.96
700120437466 Services 4-14 to 5-25-2021
05/26/2021
610.78
700446884094 Services 4-30 to 5-31-2021
06/01/2021
20.86
700120437466 Services 4-14 to 5-25-2021
05/26/2021
1,214.42
700067356541 Services 4-30 to 5-31-2021
06/01/2021
872.07
700120437466 Services 4-14 to 5-25-2021
05/26/2021
168.68
700572690569 Services 5-3 to 6-1-2021
06/02/2021
40.66
700356744422 Services 5-3 to 6-1-2021
06/02/2021
86.07
700201844920 Services 5-1 to 5-31-2021
06/01/2021
80.43
700361752854 Services 5-1 to 5-31-2021
06/01/2021
87.69
700130182532 Services 5-1 to 5-31-2021
06/01/2021
15,539.27
700120437466 Services 4-14 to 5-25-2021
05/26/2021
33.15
700120437466 Services 4-14 to 5-25-2021
05/26/2021
12,698.65
700120437466 Services 4-14 to 5-25-2021
05/26/2021
204.40
700120437466 Services 4-14 to 5-25-2021
05/26/2021
13.25
700012739477 Services 5-4 to 6-2-2021
06/03/2021
183.49
700599157829 Services 5-4 to 6-2-2021
06/03/2021
243.80
700009027411 Services 5-4 to 6-2-2021
06/03/2021
20.82
700120437466 Services 4-14 to 5-25-2021
05/26/2021
1,430.82
Check Total:
41,016.63
Check No: 20085 Check Date: 06/14/2021
Vendor: SEA33 Seal Beach Sun Newspaper
00105689 NIB City Hall Ext Stair
05/06/2021
440.00
00106383 ZTA 21-2 Flagpoles
05/27/2021
330.00
00106397 MUP 21-1
05/27/2021
290.00
Check Total:
1,060.00
Check No: 20086 Check Date: 06/14/2021
Vendor: SIE11 Siemens Mobility Inc
5620035145 OCTA 405 Widening Coop Agrmt \ OCTA 05/10/2021
1,680.00
Check Total:
1,680.00
Check No: 20087 Check Date: 06/14/2021
Vendor: soc SoCal Auto & Truck Parts Inc.
4126-517469 Oil
05/25/2021
127.37
Check Total:
127.37
Check No: 20088 Check Date: 06/14/2021
Vendor: S0008 So. California Gas Co.
0349464457/5-2 1 Services 4-20 to 5-19-2021
05/19/2021
22.10
Page 9
City of Seal Beach
User:vrodriguez
Invoice Na Description
Accounts Payable
Checks by Date - Detail by Check Number
Reference Invoice Date
Check Total:
Check No:
20089 Check Date: 06/14/2021
Vendor: SOC12
42-046321
Alcohol Wipes/Ice Pack/Bandages
Check No:
20090 Check Date: 06/14/2021
Vendor: SOL09
21396
Sunscreen for pool lifeguards
21396
Sunscreen for Beach Llfeguards
Check No:
20091 Check Date: 06/14/2021
Vendor: SOU09
3813928
AQMD Fee July 2020 to June 2021
Check No:
20092 Check Date: 06/14/2021
Vendor: SOU19
109457109-001 DG for Main Street
Check No:
20093 Check Date: 06/14/2021
Vendor: SOU71
519211000
Rock Mix
Check No: 20094 Check Date: 06/14/2021 Vendor: STA69
1789628 LCWA Watermain Lining \ LCWA Waterma
1786519 Lampson Ave ATP Bike Ln Grant \ Lamp
Check No: 20095 Check Date: 06/14/2021 Vendor: TAR09
INV21933 Online training management software.
Check No: 20096 Check Date: 06/14/2021 Vendor: TAY07
5954 Windscreen Replacement at McGaugh Sc
Check No: 20097 Check Date: 06/14/2021 Vendor: TET02
51735799 Water Well Rehab Bolsa Chica \ Water
Check No: 20098 Check Date: 06/14/2021 Vendor: TH017
0842915998 monthly CLEARS data base -August 202
Check No: 20099 Check Date: 06/14/2021 Vendor: TIM04
0021804060121 Services 6-1 to 6-30-2021
0212676052321 Services 5-23 to 6-22-2021
0021291052621 Services 5-26 to 6-25-2021
0270666051921 Services 5-19 to 6-18-2021
Check No: 20100 Check Date: 06/14/2021 Vendor: TMOl
967863726 Services Thru 5-21-2021
Check No: 20101 Check Date: 06/14/2021 Vendor: TRA29
20204615 Bldg & Safety Svc- Jan 2021 Repl Ckl
20204616 Bldg Plan Ck Svc -Jan 2021 Repl Ck19
RLG Enterprises Inc.
05/18/2021
Check Total:
So1RX Global Inc
05/13/2021
05/13/2021
Check Total:
South Coast A. Q. M. D.
05/04/2021
Check Total:
South Coast Supply
05/24/2021
Check Total:
Southconst Shortload
05/19/2021
Check Total:
Stantec Consulting Services In
05/21/2021
05/14/2021
Check Total:
Target Solutions Learning LLC
03/31/2021
Check Total:
Taylor Tennis Courts
06/03/2021
Check Total:
Tetra Tech, Inc.
05/14/2021
Check Total:
Thomson Reuters --West
08/31/2021
Check Total:
Time Warner Cable LLC
06/01/2021
05/23/2021
05/26/2021
05/19/2021
Check Total:
T -Mobile USA Inc.
05/21/2021
Check Total:
Transtech Engineers, Inc
01/31/2021
01/31/2021
Printed: 06/22/2021 11:45
Detail
!Check Amount
22.10
167.78
167.78
242.50
475.00
717.50
137.63
137.63
239.91
239.91
413.25
413.25
7,619.16
3,061.17
10,680.33
9,736.07
9,736.07
8,595.00
8,595.00
20,780.00
20,780.00
331.00
331.00
218.23
260.95
204.48
118.75
802.41
375.12
375.12
11,600.00
8,398.07
Page 10
City of Seal Beach Accounts Payable Printed: 06/22/2021 11:45
User:vrodriguez Checks by Date - Detail by Check Number Detail
Invoice No Desch Reference Invoice Date
Check Total:
Check No: 20102 Check Date: 06/14/2021 Vendor: TUNSTALLEdward Tunstall
SB2104 Background Investigations/ AK/JD 05/27/2021
SB2103 Background Investigations/CB/ TB 05/08/2021
Check Total:
Check No: 20103 Check Date: 06/14/2021
4898028-00 Twist Lock
Check No: 20104 Check Date: 06/14/2021
133446580 Sign Holders/ Clear Pockets
Check No: 20105 Check Date: 06/14/2021
114-11946202 Rental 5-7 to 6 -3 -2021 -Edison Park
Vendor: TUR10 Turtle & Hughes, Inc.
05/24/2021
Check Total:
Vendor: ULI03 ULINE
05/06/2021
Check Total:
Vendor: UNI40 United Site Services of Califo
05/12/2021
Check Total:
Check No: 20106 Check Date: 06/14/2021 Vendor: VER18 Verizon Wireless
9880469521 Services 4-24 to 5-23-2021 05/23/2021
9880469521 Services 4-24 to 5-23-2021 05/23/2021
9880469521 Services 4-24 to 5-23-2021 05/23/2021
9880469521 Services 4-24 to 5-23-2021 05/23/2021
Check Total:
Check No: 20107 Check Date: 06/14/2021 Vendor: VON DER Cheryl Von der Hellen
244010-01 Instructor Pay 1-1 to 6-4-2021 06/04/2021
Check Total:
Check No: 20108 Check Date: 06/14/2021 Vendor: VSP
812394868 Services June 2021
812394868 Services June 2021
812394873 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394875 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
812394873 Services June 2021
812394873 Services June 2021
812394868 Services June 2021
812394868 Services June 2021
Vision Service Plan - (CA)
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
05/19/2021
Check Amount
19,998.07
Page 11
1,600.00
1,600.00
3,200.00
30.75
30.75
356.87
356.87
353.94
353.94
228.06
2,316.06
38.01
38.50
2,620.63
924.00
924.00
17.17
8.51
8.52
10.50
18.62
408.21
27.44
704.77
91.41
57.45
40.82
31.71
29.67
8.54
24.08
34.97
7.31
21.04
15.92
18.80
16.69
126.26
55.73
18.03
1.06
1.06
114.50
5.71
City of Seal Beach
Accounts Payable
Printed: 06/22/2021 11:45
User:vrodriguez
Checks by Date - Detail by Check Number
Detail
Invoice No
Description Reference
Invoice Date
Check Amount
812394868
Services June 2021
05/19/2021
5.71
Check Total:
1,930.21
Check No:
20109 Check Date: 06/14/2021
Vendor: VVM
V & V Manufacturing
52914
SB PD Badge
05/18/2021
126.10
52916
Badge Repairs
05/18/2021
78.19
52915
Badge Repairs
05/18/2021
78.19
Check Total:
282.48
Check No:
20110 Check Date: 06/14/2021
Vendor: WASO4
Steve Wasserman
242050-01
Instructor Pay 1-1 to 6-4-2021
06/04/2021
310.05
Check Total:
310.05
Check No:
20111 Check Date: 06/14/2021
Vendor: WES15
West -lite Supply Co Inc
73185C
Dim T20 Lights
05/07/2021
221.07
Check Total:
221.07
Check No:
20112 Check Date: 06/14/2021
Vendor: WES40
Western Chapter ISA
5.26.2021
2021 Western Conf. June 7-10-21/Tala
05/26/2021
200.00
Check Total:
200.00
Check No:
20113 Check Date: 06/14/2021
Vendor: WOR09
Worthington Ford
5120679
Wheel Assembly
05/25/2021
694.77
Check Total:
694.77
Check No:
20114 Check Date: 06/22/2021
Vendor: CAL146
California State Disbursement
PR Batch 12 6 2021 Case No 200000002
06/16/2021
372.46
Check Total:
372.46
Check No:
20115 Check Date: 06/22/2021
Vendor: cea
City Employees Associates
PR Batch 12 6 2021 SBMMA Dues - CEA
06/16/2021
73.84
Check Total:
73.84
Check No:
20116 Check Date: 06/22/2021
Vendor: CIT48
SBSPA
PR Batch 12 6 2021 SBSPA Dues (CEA)
06/16/2021
219.26
Check Total:
219.26
Check No:
20117 Check Date: 06/22/2021
Vendor: OCE01
O.C.E.A.
PR Batch 12 6 2021 OCEA Dues
06/16/2021
216.04
Check Total:
216.04
Check No:
20118 Check Date: 06/22/2021
Vendor: PMA
Seal Beach Police Management Association
PR Batch 12 6 2021 PMA Dues
06/16/2021
400.00
Check Total:
400.00
Check No:
20119 Check Date: 06/22/2021
Vendor: POA01
Seal Beach Police Officers Assoc
PR Batch 12 6 2021 POA Dues
06/16/2021
1,400.00
Check Total:
1,400.00
Check No:
20120 Check Date: 06/22/2021
Vendor: SBMSMA
SBMSMA
PR Batch 12 6 2021 SBMSMA Dues
06/16/2021
34.62
Check Total:
34.62
Check No:
20121 Check Date: 06/22/2021
Vendor: USB
US Bank Pars 6746022400
PR Batch 12 6 2021 PARS Employee Por
06/16/2021
3,124.67
PR Batch 12 6 2021 PARS Employer Por
06/16/2021
646.43
Check Total:
3,771.10
Page 12
City of Seal Beach Accounts Payable Printed: 06/22/2021 11:45
User:vrodriguez Checks by Date - Detail by Check Number Detail
Invoice No Descrimfon
Reference
Invoice Date
Report Total:
Check Amount
4,111,734.59
Page 13
CITY OF SEAL BEACH
Preliminary Investment Report
5/3112021
Investments:
LAIF City
LAIF Successor Agency
Securities
Total Investments:
Cash. Deposits, & Accrued Interest:
Bank of the West General Account
Bank of the West Successor Agency
Less outstanding checks/ACH
Farmers & Merchants Bank (Parking)
Cash with Bank of New York
Total Cash & Deposits:
Total Investments, Cash, and Deposits:
In compliance with the California Government Code Section 53646 and Resolution Number 6038; the City
Treasurer of Seal Beach hereby certifies that sufficient investment liquidity and anticipated revenue are
available to meet the City's budgeted expenditure requirements for the next six months.
Investments in this report meet the requirements of the City of Seal Beach's adopted investment policy.
Respectfully submitted,
kkr-s-&
Kelly Telfor
Director of 'once/City Treasurer
Book Value Market Value
22,841,806.42 22,841,806.42
390.64 390.64
28,520,363.00 29,197,227.63
51,362,560.06 52,039,424.69
2,468,221.60
25,452.64
(1,163,484.63)
2,372.11
72,651.61
1,405,213.33
52,767,773.39
NOTED AND APPROVED:
f
i
Jill,R.Angram
City Manager
CITY OF SEAL BEACH
Preliminary Investments Detail Report
5/3112021
Years to
Source of Market
Issuer
Settlement Date
Maturity Date
Interest Rate
Book Value
Market Value
Maturity
Valuation
LAIF CITY:
N/A
N/A
0.315%
22,841,806.42
22,841,806.42
N/A
LAW Statement
LAIF RDA:
N/A
N/A
0.315%
390.64
390.64
N/A
LAW Statement
Total LAIF:
22,842,197.06
22,842,197.06
US Treasury Notes
09/06/18
03/31/22
1.875%
718,175.78
751,100.00
0.83
Bank of New York
US Treasury Notes
08/03/18
03/31/22
1.875%
807,601.56
847,525.00
0.83
Bank of New York
US Treasury Notes
08/31/17
07/31/22
2.000%
556,810.55
562,289.09
1.17
Bank of New York
US Treasury Notes
10/06/17
09/30/22
1.750%
406,508.59
418,968.75
1.33
Bank of New York
US Treasury Notes
06/06/18
09/30/22
1.750%
623,466.80
664,218.75
1.33
Bank of New York
US Treasury NIB Notes
05/04/18
10/31/22
2.000%
64,764.92
68,790.16
1.42
Bank of New York
US Treasury Notes
07/05/18
02/28/23
1.500%
118,261.72
127,988.28
1.75
Bank of New York
US Treasury Notes
02/12/19
03/31/23
1.500%
197,448.63
210,125.00
1.83
Bank of New York
US Treasury Notes
03/15/19
06/30/23
1.375%
316,258.59
338,353.13
2.08
Bank of New York
US Treasury Notes
02/12/19
07/31/23
1.250%
199,491.80
214,921.88
2.17
Bank of New York
US Treasury Notes
03/08/19
11/15/23
2.750%
580,817.38
610,847.69
2.46
Bank of New York
US Treasury Notes
01/09/19
11/30/23
2.125%
712,029.30
759,664.06
2.50
Bank of New York
US Treasury NIB
01/31/19
12/31/23
2.625%
125,371.09
132,714.85
2.59
Bank of New York
US Treasury NIB
06/05/19
04/30/24
2.000%
964,350.00
1,007,700.00
2.92
Bank of New York
US Treasury NIB
07/03/19
06/30/24
2.000%
282,887.50
294,393.74
3.08
Bank of New York
US Treasury NIB
09/05/19
08/31/24
1.875%
718,238.28
734,125.00
3.25
Bank of New York
US Treasury NIB
10/01/19
09/30/24
2.125%
226,264.84
232,684.37
3.34
Bank of New York
US Treasury NIB
10/03/19
09/30/24
2.125%
319,263.67
327,873.42
3.34
Bank of New York
US Treasury NIB
11/05/19
10/31/24
2.250%
371,770.31
382,443.77
3.42
Bank of New York
US Treasury NIB
01/07/20
11/30/24
2.125%
306,949.22
317,671.86
3.50
Bank of New York
US Treasury NIB
12/04/19
11/30/24
2.125%
683,766.41
709,467.15
3.50
Bank of New York
US Treasury NIB
03/04/20
02/15/25
2.000%
158,314.45
158,390.63
3.72
Bank of New York
US Treasury NIB
01/12/21
12/31/25
0.375%
139,146.88
137,878.13
4.59
Bank of New York
US Treasury Notes
04/07/21
12/31/25
0.375%
322,175.39
324,998.46
4.59
Bank of New York
US Treasury Notes
05/07/21
12/31/25
0.375%
344,367.19
344,695.33
4.59
Bank of New York
US Treasury Notes
02/26/21
01/31/26
0.375%
146,894.53
147,539.07
4.67
Bank of New York
US Treasury Notes
02/05/21
01/31/26
2.625%
409,370.31
402,375.00
4.67
Bank of New York
US Treasury Notes
03/08/21
02/28/26
0.500%
532,870.31
533,756.25
4.75
Bank of New York
Intl Bk Recon & Develop Corp
11/24/20
11/24/23
0.250%
214,537.75
214,943.46
2.48
Bank of New York
CA ST TXBL Go Bonds
10/24/19
10/01/23
2.400%
275,402.70
284,439.60
2.34
Bank of New York
MS ST TXBL Go Bonds
08/06/20
11/01/24
0.565%
250,000.00
251,142.50
3.42
Bank of New York
OR ST Dept Trans TXBL Rev Bonds
09/17/20
11/15/24
0.566%
195,000.00
195,707.85
3.46
Bank of New York
UN IV OF CAL TXBL REV Bonds
07/16/20
05/15/25
0.883%
100,362.00
101,019.00
3.96
Bank of New York
FL ST Board of Admin TXBL Rev Bonc
09/16/20
07/01/25
1.258%
60,424.20
60,825.00
4.09
Bank of New York
FL ST Board of Admin TXBL Rev Bonc
09/16/20
07/01/25
1.258%
155,000.00
157,131.25
4.09
Bank of New York
Los Angeles CCD, CA TABL Go Bond:
11/10/20
08/01/25
0.773%
110,000.00
109,425.80
4.17
Bank of New York
NJ TPK Auth-B-TXBL Municipal Bond:
02/04/21
01/01/26
1.047%
60,000.00
60,005.40
4.59
Bank of New York
FHMS K043 A2
03/25/20
12/01/24
3.062%
162,677.34
167,548.04
3.51
Bank of New York
Fannie Mae Notes
06/29/17
04/05/22
1.875%
489,926.50
497,472.99
0.85
Bank of New York
Freddie Mac Notes (CALLABLE)
08/06/20
02/06/23
0.300%
685,000.00
685,277.43
1.69
Bank of New York
Federal Home Loan Banks Notes
02/21/20
02/17/23
1.375%
374,310.00
382,972.88
1.72
Bank of New York
Fannie Mae Notes
05/22/20
05/22/23
0.250%
433,690.65
435,937.43
1.98
Bank of New York
Freddie Mac Notes
01/09/19
06/19/23
2.750%
755,265.00
789,888.00
2.05
Bank of New York
Freddie Mac Notes
06/26/20
06/26/23
0.250%
244,284.60
245,502.50
2.07
Bank of New York
Fannie Mae Notes
07/10/20
07/10/23
0.250%
553,806.75
556,021.20
2.11
Bank of New York
Freddie Mac Notes
08/21/20
08/24/23
0.250%
259,734.80
260,448.24
2.23
Bank of New York
Issuer
Fannie Mae Notes
Federal Farm Credit Bank (Callable)
Freddie Mac Notes
Federal Home Loan Banks Notes
Fannie Mae Notes
Federal Home Loan Bank Notes
Fannie Mae Notes
Fannie Mae Notes
Fannie Mae Notes
Fannie Mae Notes
Freddie Mac Notes
Fannie Mae Notes
Fannie Mae Notes
Freddie Mac Notes
Freddie Mac Notes
Freddie Mac Notes
Citigroup Inc Corp
American Express Credit Corp
BB&T CORP
National Rural Util Coop Corp
JPMorgan Chase&Co Corp Notes
Adobe Inc Corp Note
Caterpillar Fin Services Corp
Home Depot Inc Corp
American honda Finance
Apple Inc Corporate Notes
Toyota Motor Credit Corp
PFIZER Inc
Morgan Stanley Corp Notes
Morgan Stanley Corp Notes
Amazon.com Inc
Bank of America Corp
Novartis Capital Corp
Mastercard Inc Corporate Notes
Bank of NY Mellon Corp
PepsiCo Incmcorp Notes
Citigroup Inc Corp
Citigroup Inc Corp
Goldman Sachs Group Corp
Bristol-Myers Squibb Co Corp
Societe Generale NYCert Dep
Sumitomo Mitsui Bank NY
Nordea Bank ABP New York Cert Dep(
Skandinaviska Enskilda Banken
DNB Bank ASA/NY LTT CD
Credit Suisse New York Cert Depos
Total Securities
CITY OF SEAL BEACH
Preliminary Investments Detail Report
5/3112021
Total Investments:
51,362,560.06 52,039,424.69
Years to
Source of Market
Settlement Date
Maturity Date
Interest Rate
Book Value
Market Value
Maturity
Valuation
12/06/18
09/12/23
2.875%
688,606.20
732,259.74
2.28
Bank of New York
10/09/20
09/21/23
0.250%
259,558.00
259,996.62
2.31
Bank of New York
12/04/20
12/04/23
0.250%
234,767.35
235,161.45
2.51
Bank of New York
01/31/19
12/08/23
3.375%
360,315.86
377,613.25
2.52
Bank of New York
02/08/19
02/05/24
2.500%
273,977.00
291,483.50
2.68
Bank of New York
04/16/20
04/14/25
0.500%
278,611.20
279,651.40
3.87
Bank of New York
06/05/20
04/22/25
0.625%
366,868.80
366,297.94
3.90
Bank of New York
04/24/20
04/22/25
0.625%
379,217.20
381,351.28
3.90
Bank of New York
10/05/20
06/17/25
0.500%
301,407.00
299,011.80
4.05
Bank of New York
06/19/20
06/17/25
0.500%
434,099.55
433,567.11
4.05
Bank of New York
07/23/20
07/21/25
0.375%
263,680.30
262,231.28
4.14
Bank of New York
08/27/20
08/25/25
0.375%
278,689.60
276,776.64
4.24
Bank of New York
10/22/20
08/25/25
0.375%
601,726.95
598,035.24
4.24
Bank of New York
09/25/20
09/23/25
0.375%
403,780.95
399,741.08
4.32
Bank of New York
11/12/20
11/07/25
0.500%
259,069.20
257,721.10
4.44
Bank of New York
11/24/20
11/07/25
0.500%
319,878.40
317,195.20
4.44
Bank of New York
11/22/17
12/08/21
2.900%
115,785.45
116,295.82
0.52
Bank of New York
04/05/18
03/03/22
2.700%
195,958.00
203,380.20
0.76
Bank of New York
04/05/18
04/01/22
2.750%
132,493.05
137,459.84
0.84
Bank of New York
04/05/18
04/25/22
2.400%
243,162.50
254,343.50
0.90
Bank of New York
04/05/18
09/23/22
3.250%
264,189.10
275,292.07
1.32
Bank of New York
02/03/20
02/01/23
1.700%
99,863.00
102,420.60
1.67
Bank of New York
04/05/18
03/01/23
2.625%
243,572.50
260,271.00
1.75
Bank of New York
04/05/18
04/01/23
2.700%
245,250.00
259,985.25
1.84
Bank of New York
01/10/20
05/10/23
1.950%
199,926.00
206,512.80
1.94
Bank of New York
05/11/20
05/11/23
0.750%
164,551.20
166,821.11
1.95
Bank of New York
01/31/19
01/08/24
3.350%
166,277.10
177,655.67
2.61
Bank of New York
04/04/19
03/15/24
2.950%
202,420.00
213,735.80
2.79
Bank of New York
04/22/21
04/05/24
0.731%
35,000.00
35,098.18
2.85
Bank of New York
04/22/21
04/05/24
0.731%
110,138.60
110,308.55
2.85
Bank of New York
05/12/21
05/12/24
0.450%
164,759.10
165,287.10
2.95
Bank of New York
10/21/20
10/24/24
0.810%
215,000.00
216,157.56
3.40
Bank of New York
05/11/20
02/14/25
1.750%
280,381.50
279,853.38
3.71
Bank of New York
05/06/20
03/03/25
2.000%
219,095.10
220,196.13
3.76
Bank of New York
03/08/21
04/24/25
1.600%
364,677.30
364,676.24
3.90
Bank of New York
03/08/21
04/30/25
2.750%
219,661.60
220,497.39
3.92
Bank of New York
05/04/21
05/01/25
0.981%
70,000.00
70,444.29
3.92
Bank of New York
05/04/21
05/01/25
0.981%
75,198.75
75,476.03
3.92
Bank of New York
02/17/21
05/22/25
3.750%
217,850.10
214,744.92
3.98
Bank of New York
09/30/20
08/15/25
3.875%
102,841.20
100,705.50
4.21
Bank of New York
02/19/20
02/14/22
1.800%
275,000.00
277,873.75
0.71
Bank of New York
07/14/20
07/08/22
0.700%
220,000.00
221,099.56
1.10
Bank of New York
08/29/19
08/26/22
1.850%
395,000.00
403,412.32
1.24
Bank of New York
09/03/19
08/26/22
1.860%
420,000.00
428,996.82
1.24
Bank of New York
12/06/19
12/02/22
2.040%
205,000.00
210,675.63
1.51
Bank of New York
03/23/21
03/17/23
0.590%
220,000.00
220,248.60
1.79
Bank of New York
28,520,363.00
29,197,227.63
Total Investments:
51,362,560.06 52,039,424.69
i�0� SEA('ec�9ti
f�
G� nyy
AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Steve Myrter, P.E., Director of Public Works
SUBJECT: Authorizing an Application for the Defense Community
Infrastructure Program Grant for Sewer Pump Station #35
Improvement Project
SUMMARY OF REQUEST:
That the City Council adopt Resolution 7168 authorizing the City Manager to
submit a Defense Community Infrastructure Program grant funding application
for Sewer Pump Station #35 Improvement Project.
BACKGROUND AND ANALYSIS:
On May 18, 2021, the Office of Local Defense Community Cooperation (formerly
the Office of Economic Adjustment) within the U.S. Department of Defense
announced a federal funding opportunity to assist state and local agencies in
addressing community infrastructure that supports a military installation under the
Defense Community Infrastructure Program (DCIP). The purpose of this DCIP
grant is to enhance military value, installation resilience, and/or military family
quality of life through infrastructure that is outside, but supporting a military
installation.
Sewer Pump Station #35 was originally constructed in 1973 at the northeast
corner of Seal Beach Boulevard and Electric Avenue. This station collects
sewage from the Old Town, Marina Hill, and Bridgeport communities, as well as
the Naval Weapons Station Seal Beach (NWS). It pumps this tributary sewage to
the Orange County Sanitation District's system at Seal Beach Boulevard and
Westminster Avenue. Proper and continuous operation of this station is essential
in preventing sewage spills.
Sewer Pump Station #35 Improvement Project proposes to upgrade equipment
that is nearing the end of its serviceable life, and provide a separate bypass
pumping connection that would eliminate sewage backup in the collection
system. This project is consistent with the DCIP grant guidelines of providing
installation resiliency and has been endorsed by NWS installation's commander.
Agenda Item D
Completed DCIP grant proposals are due on July 12, 2021.
ENVIRONMENTAL IMPACT:
Approval of a resolution authorizing submittal of a grant application is not a
"project" within the meaning of the California Environmental Quality Act ("CEQA")
pursuant to Sections 15061(b)(3) and 15378(b)(4) of the state CEQA Guidelines
because it can be seen with certainty that approval of a grant application
submittal will not have a significant effect on the environment.
Environmental impacts related to the project construction will be assessed under
a separate effort.
LEGAL ANALYSIS:
The City Attorney has reviewed and approved the resolution as to form.
FINANCIAL IMPACT:
Matching funds are not required for projects in areas with a population of less
than 100,000.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
RECOMMENDATION:
That the City Council adopt Resolution 7168 authorizing the City Manager to
submit a Defense Community Infrastructure Program grant funding application
for Sewer Pump Station #35 Improvement Project.
SUBMITTED BY: NOTED AND APPROVED:
Steve Myrter
Steve Myrter, P.E., Director of
Public Works
Jill R. Ingram
Jill R. Ingram, City Manager
Prepared by: Iris Lee, Deputy Public Works Director/City Engineer
Page 2
ATTACHMENTS:
A. Resolution 7168
Page 3
RESOLUTION 7168
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
APPROVING THE APPLICATION FOR GRANT FUNDS FOR THE
DEFENSE COMMUNITY INFRASTRUCTURE PROGRAM FOR
THE SEWER PUMP STATION #35 IMPROVEMENT PROJECT
WHEREAS, the Office of Local Defense Community Cooperation supports state
and local governments in addressing community infrastructure that supports a
military installation under the Defense Community Infrastructure Program (DCIP);
and,
WHEREAS, the Fiscal Year 2021 National Defense Authorization Act established
the following order of prioritization for community infrastructure projects under the
DCIP: enhancement of military value, enhancement of military installation
resilience, and enhancement of military family quality of life; and,
WHEREAS, the Consolidated Appropriations Act for Fiscal Year 2021 (PL 116-
260) provides $60 million to the Office of Local Defense Cooperation for the
DCIP; and,
WHEREAS, on May 18, 2021, the Office of Local Defense Community
Cooperation announced the DCIP funding opportunity; and,
WHEREAS, the City of Seal Beach desires to operate and maintain a safe and
reliable wastewater system; and,
WHEREAS, the Sewer Pump Station #35 Improvement Project will improve
station resiliency for the Seal Beach Community and Naval Weapons Station
Seal Beach; and,
WHEREAS, the Sewer Pump Station #35 Improvement Project is consistent with
the DCIP goals.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SEAL BEACH
DOES HEREBY RESOLVE:
SECTION 1. The City Council hereby approves the filing of an application for
grant funds from the Defense Community Infrastructure Program
for the Sewer Pump Station #35 Improvement Project.
SECTION 2. The City Council hereby authorizes the City Manager, or her
designee, as agent to conduct all negotiations, execute, and submit
all documents including, but not limited to applications, agreements,
and payment requests, which may be necessary to submit and
secure the grant, the City's obligations related thereto, and all
amendments thereto for the Project.
PASSED, APPROVED AND ADOPTED by the Seal Beach City Council at a
regular meeting held on the 28th day of June, 2021 by the following vote:
AYES: Council Members
NOES: Council Members
ABSENT: Council Members
ABSTAIN: Council Members
Joe Kalmick, Mayor
ATTEST:
Gloria D. Harper, City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution 7168 on file in the office of
the City Clerk, passed, approved, and adopted by the City Council at a regular
meeting held on the 28th day of June, 2021.
Gloria D. Harper, City Clerk
>yDE GEQ�,eF9ti
t� `yea
AGENDA STAFF REPORT
o,
�c4OFORN�P'
DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Philip L. Gonshak, Chief of Police
SUBJECT: Approving, Authorizing and Supporting the Change to
Jurisdictional Status of the Naval Weapons Station Seal
Beach to Concurrent Legislative Jurisdiction
SUMMARY OF REQUEST:
That the City Council adopt Resolution 7169 approving, authorizing, and
supporting the change to the jurisdictional status of the Naval Weapons Station
Seal Beach to Concurrent Legislative Jurisdiction.
BACKGROUND AND ANALYSIS:
On March 26, 2021, the U.S. Navy sent a letter to the City of Seal Beach formally
requesting a jurisdiction change at the Naval Weapons Station Seal Beach (NWS)
to that of concurrent legislative jurisdiction. The Naval Weapons Station is
currently owned by the U. S. Department of the Navy and is an area of federal
proprietary jurisdiction.
In areas of proprietary jurisdiction such as the NWS, local law enforcement
possesses law enforcement authority, including the right to investigate crimes and
make arrests. By contrast, Naval law enforcement only has the authority to
temporarily detain individuals for state criminal offenses and must notify local law
enforcement who then assume control over the personnel/incident.
The Navy requested that the City and State cede authority on the NWS which
would permit federal, state, and/or local agency to respond to emergencies and to
exercise jurisdiction over criminal offenses occurring at the NWS. Under the
current jurisdictional framework, U.S. Navy personnel can only detain those
suspected of state offenses for a short time until local law enforcement can
respond.
There is a Navy -wide effort to make all Navy bases in the continental United States
concurrent jurisdiction. From the Navy's perspective, this standardizes the
jurisdiction questions and enhances the Navy's ability to enforce federal law. It
Agenda Item E
allows federal prosecution of crimes on base and allows local entities to respond
to military bases.
As a practical matter, very little will change for the City of Seal Beach and Seal
Beach Police Department (SBPD) in terms of response and how calls for service
are handled on the NWS. SBPD jurisdiction on the base remains intact and there
will not be any loss in the ability of the SBPD to respond.
ENVIRONMENTAL IMPACT:
There is no environmental impact related to this item.
LEGAL ANALYSIS:
The City Attorney has reviewed this item and approved it as to form.
FINANCIAL IMPACT:
There is no financial impact related to this agreement.
STRATEGIC PLAN:
This item is not applicable to the City Council strategic goals adopted March 5,
2020.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
RECOMMENDATION:
That the City Council adopt Resolution 7169 approving, authorizing, and
supporting the change to the jurisdictional status of the Naval Weapons Station
Seal Beach to Concurrent Legislative Jurisdiction.
SUBMITTED BY:
Philip L. Gonshak
Philip L. Gonshak, Chief of
Police
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, City Manager
Prepared by: Michael Henderson, Operations Captain
Page 2
ATTACHMENTS:
A. Resolution 7169
B. Letter from Captain Jason J. Sherman, Commanding Officer, U. S. Navy
Page 3
RESOLUTION 7169
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
APPROVING A REQUEST FROM THE DEPARTMENT OF THE NAVY FOR
JURISDICTIONAL CHANGE AT THE NAVAL WEAPONS STATION SEAL BEACH
WHEREAS The City Council hereby approves the request from the U.S.
Department of the Navy to change the jurisdictional status of the Naval Weapons
Station Seal Beach to concurrent legislative jurisdiction; and,
WHEREAS This is a Navy -wide effort to standardize jurisdiction and
enhances the Navy's ability to enforce federal law; and,
WHEREAS the current authority and jurisdiction of the Seal Beach Police
Department on the Naval Weapons Station Seal Beach will remain intact.
THE SEAL BEACH CITY COUNCIL DOES HEREBY RESOLVE:
Section 1. The Council enters into this agreement and hereby authorizes the
City Manager or her designee to execute on behalf of the City of Seal Beach all
agreements, contracts and necessary documents in relation thereto.
PASSED, APPROVED AND ADOPTED by the Seal Beach City Council at a
regular meeting held on the 28th day of June, 2021 by the following vote:
AYES: Council Members
►[�]�•��Z.111it ILVA[aii1040
ABSENT: Council Members
ABSTAIN: Council Members
Joe Kalmick, Mayor
ATTEST:
Gloria D. Harper, City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution 7169 on file in the office of
the City Clerk, passed, approved, and adopted by the City Council at a regular
meeting held on the 28th day of June, 2021.
Gloria D. Harper, City Clerk
DEPARTMENT OF THE NAVY
NAVAL WEAPONS STATION SEAL BEACH
800 SEAL BEACH BOULEVARD
SEAL BEACH, CA 90740-5000
The Honorable Joe Kalmick
Mayor, City of Seal Beach, California
211 Eighth Street
Seal Beach, California 90740
Dear Mr. Kahnick:
M REPLY REFER TO
5820
Ser NOOL/0083
March 26, 2021
SUBJECT: JURISDICTION CHANGE AT NAVAL WEAPONS STATION SEAL BEACH
As discussed in recent phone conversations between my staff and representatives from your office, the
purpose of this letter is to respectfully request your support and concurrence on Naval Weapons Station
(NWS) Seal Beach's effort to modify the current jurisdictional status on the installation. With your
concurrence, we will be submitting a request to Principal Deputy Assistant Secretary of the Navy for
Environment, Installations, and Energy (PDASN EI&E) to approve a jurisdiction change for NWS Seal
Beach so that the entire installation can be subject to concurrent legislative jurisdiction.
The Department of Navy (DON) owned property subject to this request is located in the City of Seal
Beach, California, and is commonly known as NWS Seal Beach. The property is more precisely
described in enclosure (1). The entire property is within the City of Seal Beach. Currently, all of NWS
Seal Beach is subject to federal proprietary jurisdiction. PDASN EI&E will ask the State of California to
partially cede its jurisdiction so that NWS Seal Beach and these detachments will be subject to concurrent
legislative jurisdiction. California Government Code Section 126 provides the procedures under which
the State may assent to this action.
If approved by the DON, and with the assent of the State, the cession would permit federal, state,
and/or local agencies to respond to emergencies and to exercise jurisdiction over criminal offenses
committed onboard NWS Seal Beach. Under the current jurisdictional framework, DON uniformed law
enforcement personnel often can only detain those suspected of state law offenses for a short time until
local law enforcement agencies can respond.
Please provide NWS Seal Beach with a written response indicating the position of the City of Seal
Beach on the proposed change in jurisdiction. An example concurrence letter is enclosed for your
convenience and reference. Due to the important nature of this effort, we respectfully request your
response by April 26, 2021.
My point of contact regarding this matter is LT Josiah Houck, JAGC, USN. He can be reached at (805)
890-7032 orjosiah.houck@navy.mil.
Sincerely,
JA HERMAN
Captain, U.S. Navy
Commanding Officer
Copy to: Chief Philip L. Gonshak, Chief of Police, City of Seal Beach, California
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[Letterhead]
CAPT Jason J. Sherman
Commanding Officer
Naval Weapons Station Seal Beach
800 Seal Beach Boulevard
Seal Beach, CA 90740-5000
Dear Captain Sherman:
SUBJECT: JURISDICTION CHANGE AT NAVAL WEAPONS STATION SEAL BEACH
I am writing in response to your letter requesting my support to change the jurisdictional status
of Naval Weapons Station (NWS) Seal Beach to concurrent legislative jurisdiction.
I fully support the proposal to upgrade the proprietary jurisdiction property at NWS Seal
Beach within the City of Seal Beach to concurrent legislative jurisdiction.
Please do not hesitate to contact me if I can be of further assistance in this matter.
Sincerely,
[Title and Full Name]
Enclosure (2)
i�0� SEA('ec�9ti
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AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Kelly Telford, CPA, Finance Director/Treasurer
SUBJECT: Fiscal Year 2021-22 Statement of Investment Policy and
Delegation of Authority
SUMMARY OF REQUEST:
That the City Council adopt Resolution 7170 approving the FY 2021-22 Statement
of Investment Policy and Delegation of Authority to the Director of Finance/City
Treasurer.
BACKGROUND AND ANALYSIS:
As a best practice, the Statement of Investment Policy should be reviewed and
approved by City Council on an annual basis. Additionally, there is a requirement
in the Government Code for the delegation by the City Council to the Director of
Finance/City Treasurer to occur annually. To ensure that this annual requirement
occurs, the Policy will need to be brought before the City Council each year
regardless of whether there are any proposed changes to the Policy.
PFM, the City's Investment Management consultants, reviewed the current
Statement of Investment Policy for compliance with the California Government
Codes that regulate the investment of public funds, and there are two minor
recommended changes to the Policy at this time. These recommended changes
are to comply with S13998, which took effect January 1, 2021, and can be found in
the redline version of the policy in Attachment B.
ENVIRONMENTAL IMPACT:
There is no environmental impact related to this item.
LEGAL ANALYSIS:
The City Attorney has reviewed the Statement of Investment Policy to confirm the
compliance with the various government codes.
Agenda Item F
FINANCIAL IMPACT:
There is no financial impact for this item.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
RECOMMENDATION:
That the City Council adopt Resolution 7170 approving the Fiscal Year 2021-22
Statement of Investment Policy and Delegation of Authority to the Director of
Finance/City Treasurer.
SUBMITTED BY:
Kelly Telford
Kelly Telford, CPA, Finance
Director/Treasurer
ATTACHMENTS:
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, City Manager
A. Resolution 7170
B. FY 2021-22 Statement of Investment Policy — Redline
C. FY 2021-22 Statement of Investment Policy - Clean
Page 2
RESOLUTION 7170
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
APPROVING THE STATEMENT OF INVESTMENT POLICY AND
ANNUAL DELEGATION OF INVESTMENT AUTHORITY TO THE
DIRECTOR OF FINANCE/CITY TREASURER
THE SEAL BEACH CITY COUNCIL DOES HEREBY RESOLVE:
Section 1. The City Council hereby approves the Fiscal Year 2021-22 Statement
of Investment Policy as stated in Exhibit A, attached hereto and incorporated
herein by this reference.
Section 2. The City Council hereby reauthorizes the delegation of its investment
authority and the management of the investment program to the Director of
Finance/City Treasurer for a period of one year following the date this Resolution
is adopted.
PASSED, APPROVED and ADOPTED by the Seal Beach City Council at a
regular meeting held on the 28th day of June, 2021 by the following vote:
AYES: Council Members
NOES: Council Members
ABSENT: Council Members
r_1:�.�r_1nt�eillPiMILVAII OT
Joe Kalmick, Mayor
ATTEST:
Gloria D. Harper, City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution 7170 on file in the office of
the City Clerk, passed, approved, and adopted by the Seal Beach City Council at
a regular meeting held on the 28th day of June, 2021.
Gloria D. Harper, City Clerk
EXHIBIT A
CITY OF SEAL BEACH
Statement of Investment Policy
SECTION 1 - POLICY
This Statement of Investment Policy is intended to identify the policies for prudent
investment of temporarily idle funds of the City of Seal Beach (the "City") by providing
guidelines for suitable investments while maximizing the efficiency of the City's Cash
Management Program.
The City's Cash Management Program is designed to accurately monitor and forecast
expenditures and revenues, thus enabling the investment of funds to the fullest extent
possible.
The investment policies and practices of the City of Seal Beach are based upon state
law and prudent money management. All funds will be invested in accordance with
California Government Code Sections 53601 et seq. and the City's Investment Policy.
SECTION 2 - SCOPE
The Investment Policy applies to all funds and investment activities of the City except
the investment of bond proceeds, which are governed by the appropriate bond
documents, and any pension or other post -employment benefit funds held in a trust.
SECTION 3 - PRUDENCE
The standard of prudence to be used by investment officials will be the "prudent
investor" standard, which states that, "when investing, reinvesting, purchasing,
acquiring, exchanging, selling, or managing public funds, a trustee shall act with care,
skill, prudence, and diligence under the circumstances then prevailing, including, but not
limited to, the general economic conditions and the anticipated needs of the agency,
that a prudent person acting in a like capacity and familiarity with those matters would
use in the conduct of funds of a like character and with like aims, to safeguard the
principal and maintain the liquidity needs of the agency."
9
EXHIBIT A
SECTION 4 — OBJECTIVES
The primary objectives, in priority order, of the investment activities of the City are:
1. SAFETY — Safety of principal is the foremost objective of the City of Seal Beach.
2. LIQUIDITY — The City's portfolio will remain sufficiently liquid to enable the City
to meet its cash flow requirements. It is important that the portfolio contain
investments which provide the ability of being easily sold at any time with minimal
risk of loss of principal or interest.
3. YIELD — The City's portfolio will be designed to attain a market rate of return
through economic cycles consistent with the constraints imposed by its safety
objective and cash flow considerations.
SECTION 5 - DELEGATION OF AUTHORITY
Pursuant to California Government Code Section 53607, the City Council has delegated
its investment authority and the management responsibility for the investment program
to the Director of Finance/City Treasurer for a period of one year concurrently with the
City Council's adoption of this Investment Policy. This delegation of investment
authority is subject to review and annual renewal by the City Council in its discretion,
which annual renewal may be made by the City Council in connection with its annual
budget adoption or an amendment to this Investment Policy, or at such other time as
appropriate and convenient. The Director of Finance/City Treasurer will monitor and
review all investments for consistency with this Investment Policy. The Director of
Finance/City Treasurer may grant investment decision making and execution authority
to an investment advisor, provided that the Director of Finance/City Treasurer exercises
prudence in the selection of the investment advisor, imposes suitable safeguards to
prevent abuse in the exercise of discretion by the investment advisor, and remains
responsible for any investment decisions made by the investment advisor. The advisor
will follow the Investment Policy and such other written instructions as are provided.
SECTION 6 — INVESTMENT PROCEDURES
The Director of Finance/City Treasurer will establish investment procedures for the
operation of the City's investment program.
SECTION 7 - ETHICS AND CONFLICT OF INTEREST
Officers and employees involved in the investment process will refrain from personal
business activities that could conflict with proper execution of the investment program,
or which could impair their ability to make impartial decisions.
M
EXHIBIT A
SECTION 8 — AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
If the City is executing transactions on its own behalf, other than those executed directly
with issuer, the Director of Finance/City Treasurer will maintain a list of financial dealers
and institutions qualified and authorized to transact business with the City.
In accordance with California Government Code Section 53601.5, the purchase by the
City of any investment other than those purchased directly from the issuer, will be
purchased either from an institution licensed by the State as a broker-dealer, as defined
in Section 25004 of the Corporations Code, which is a member of the Financial Industry
Regulatory Authority (FINRA), or a member of a federally regulated securities
exchange, a national or state chartered bank, a federal or state association (as defined
by Section 5102 of the Financial Code), or a brokerage firm designated as a Primary
Government Dealer by the Federal Reserve Bank.
The Director of Finance/City Treasurer will investigate all institutions that wish to do
business with the City, to determine if they are adequately capitalized, make markets in
securities appropriate for the City's needs, and agree to abide by the conditions set forth
in the City of Seal Beach's Investment Policy and any other guidelines that may be
provided. This will be done annually by having the financial institutions:
1. Provide written notification that they have read, and will abide by, the City's
Investment Policy.
2. Submit their most recent audited Financial Statement within 120 days of the
institution's fiscal year end.
If the City has an investment advisor, the investment advisor may use its own list of
authorized broker/dealers to conduct transactions on behalf of the City, provided that
the broker/dealer meets the requirements of the second paragraph, above, in this
Section 8.
Purchase and sale of securities will be made on the basis of competitive bids and offers
with a minimum of three quotes being obtained.
SECTION 9 - AUTHORIZED AND SUITABLE INVESTMENTS
Where this section specifies a percentage limitation for a particular security type, that
percentage is applicable only on the date of purchase. Credit criteria listed in this
section refers to the credit rating at the time the security is purchased. If an investment's
credit rating falls below the minimum rating required at the time of purchase, the
Director of Finance/City Treasurer will perform a timely review and decide whether to
sell or hold the investment.
The City will limit investments in any one non-government issuer, except
investment pools, to no more than 5% regardless of security type.
5
EXHIBIT A
1. U.S. Treasury obligations for which the full faith and credit of the United States
are pledged for the payment of principal and interest.
2. Federal agency or United States government-sponsored enterprise
obligations, participations, or other instruments, including those issued by or
fully guaranteed as to principal and interest by federal agencies or United States
government-sponsored enterprises. This will include any mortgage pass through
security issued and guaranteed by a Federal Agency with a maximum final
maturity of five years. Purchase of Federal Agency issued mortgage-backed
securities authorized by this subdivision may not exceed 20% of the City's
investment portfolio; portfolio concentration for all other investments in Federal
Agency securities is unrestricted.
3. Obligations of the State of California or any local agency within the state,
including bonds payable solely out of revenues from a revenue producing
property owned, controlled or operated by the state or any local agency, or by a
department, board, agency or authority of the state or any local agency.
4. Registered treasury notes or bonds of any of the other 49 states in addition
to California, including bonds payable solely out of the revenues from a
revenue-producing property owned, controlled, or operated by a state, or by a
department, board, agency, or authority of any of these states.
5. Bankers' Acceptances with a rating of the highest ranking or highest letter and
number rating as provided for by a nationally recognized statistical -rating
organization (NRSRO). Purchases of bankers' acceptances may not exceed 180
days. No more than 40% of the City's portfolio may be invested in bankers'
acceptances.
6. Commercial Paper of "prime" quality of the highest ranking or of the highest
letter and number rating as provided for by a NRSRO. The entity that issues the
commercial paper must meet all of the following conditions in either paragraph a
or paragraph b:
a. The entity meets the following criteria: (i) is organized and operating in the
United States as a general corporation, (ii) has total assets in excess of five
hundred million dollars ($500,000,000), and (iii) has debt other than
commercial paper, if any, that is rated in a rating category of "A" or higher,
or the equivalent, by a NRSRO.
b. The entity meets the following criteria: (i) is organized within the United
States as a special purpose corporation, trust, or limited liability company,
(ii) has program -wide credit enhancements including, but not limited to, over
collateralization, letters of credit, or surety bond, and (iii) has commercial
paper that is rated in a rating category of "A-1" or higher, or the equivalent,
by a NRSRO.
EXHIBIT A
Eligible commercial paper will have a maximum maturity of 270 days or less. No
more than 25% of the City's portfolio may be invested in commercial paper. The
City may purchase no more than 10% of the outstanding commercial paper of
any single issuer.
7. Non-negotiable Certificates of Deposit (time CDs) in a state or national bank,
savings association or federal association, or federal or state credit union with a
branch in the State of California. In accordance with California Government Code
Section 53635.2, to be eligible to receive City deposits, a financial institution will
have received an overall rating of not less than "satisfactory" in its most recent
evaluation, pursuant to the federal Community Reinvestment Act, by the
appropriate federal financial supervisory agency of its record of meeting the
credit needs of California's communities. Time CDs are required to be
collateralized as specified under Government Code Section 53630 et seq. The
City, at its discretion, may waive the collateralization requirements for any portion
that is covered by federal deposit insurance. The City will have a signed
agreement with any depository accepting City funds per Government Code
Section 53649. No deposits will be made at any time in time CDs issued by a
state or federal credit union if a member of the City Council or the Director of
Finance/City Treasurer serves on the board of directors or any committee
appointed by the board of directors of the credit union. In accordance with
Government Code Section 53638, any deposit will not exceed that total
shareholder's equity of any depository bank, nor will the deposit exceed the total
net worth of any institution.
8. Negotiable Certificates of Deposit issued by a nationally or state -chartered
bank, a savings association or a federal association (as defined by Section 5102
of the Financial Code), a state or federal credit union, or by a federally- or state -
licensed branch of a foreign bank. No more than 30% of the City's portfolio may
be invested in negotiable CDs.
9. Medium -Term Notes issued by corporations organized and operating within the
United States or by depository institutions licensed by the U.S. or any state and
operating within the U.S. Medium-term corporate notes will be rated in a rating
category "A" or its equivalent or better by a NRSRO. No more than 30% of the
City's portfolio may be invested in medium-term notes.
10. Shares of beneficial interest issued by diversified management companies
that are money market funds registered with the Securities and Exchange
Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1,
et seq.). To be eligible for investment pursuant to this subdivision these
companies will either: (i) attain the highest ranking letter or numerical rating
provided by at least two NRSROs or (ii) have retained an investment advisor
registered or exempt from registration with the Securities and Exchange
Commission with not less than five years of experience managing money market
mutual funds and with assets under management in excess of $500,000,000. In
7
EXHIBIT A
addition, an eligible money market fund must maintain a stable net asset value
(NAV). No more than 20% of the City's investment portfolio may be invested in
money market funds.
11. State of California's Local Agency Investment Fund (LAIF) an investment
pool run by the State Treasurer. The City can invest up to the maximum amount
permitted by the State Treasurer.
12.Shares of beneficial interest issued by a joint powers authority (Local
Government Investment Pools) organized pursuant to Government Code Section
6509.7 that invests in the securities and obligations authorized in subdivisions (a)
to (q) of California Government Code Section 53601, inclusive. Each share will
represent an equal proportional interest in the underlying pool of securities
owned by the joint powers authority. The Pool will be rated in a rating category
"AAA" or its equivalent by a NRSRO. To be eligible under this section, the shares
will maintain a stable net asset value (NAV) and the joint powers authority issuing
the shares will have retained an investment adviser that meets all of the following
criteria:
a. The adviser is registered or exempt from registration with the Securities and
Exchange Commission.
b. The adviser has not less than five years of experience investing in the
securities and obligations authorized in subdivisions (a) to (q) Government
Code Section 53601, inclusive.
c. The adviser has assets under management in excess of five hundred million
dollars ($500,000,000).
13.Asset-Backed Securities (ABS) such as a mortgage passthrough security,
collateralized mortgage obligation, mortgage-backed or other pay -through bond,
equipment lease -backed certificate, consumer receivable passthrough certificate,
or consumer receivable -backed bond of a maximum remaining maturity of five
years or less. ABS eligible for investment shall be rated in a rating category of
"AX or its equivalent or better by an NRSRO. No more than 20% of the City's
investment portfolio may be invested in ABS.
14.Supranationals. United States dollar denominated senior unsecured
unsubordinated obligations issued or unconditionally guaranteed by the
International Bank for Reconstruction and Development, International Finance
Corporation, or Inter -American Development Bank, with a maximum remaining
maturity of five years or less, and eligible for purchase and sale within the United
States. Obligations issues by supranationals will be rated in a rating category
"AX or better by an NRSRO. No more than 30% of the City's investment
portfolio may be invested in supranationals.
rn
EXHIBIT A
SECTION 10 — INVESTMENT POOLS/MONEY MARKET FUNDS
A thorough investigation of investment pools and money market funds is required prior
to investing, and on a continual basis.
SECTION 11 — MAXIMUM MATURITY
Maturities will be based on an analysis of the receipt of revenues and maturity of
investments. Maturities will be scheduled to permit the City to meet all disbursement
requirements.
The City may not invest in a security whose maturity exceeds five years from the
date of purchase unless City Council has provided approval for a specific
purpose at least 90 days before the investment is made.
SECTION 12 — PROHIBITED INVESTMENTS
Investments not described herein, including, but not limited to, reverse repurchase
agreements, stocks, inverse floaters, range notes, commercial mortgage-backed,
interest -only strips, or any security that could result in zero interest accrual if held to
maturity are prohibited for investment by the City.
SECTION 13 — INTERNAL CONTROL
The Director of Finance/City Treasurer will establish an annual process of independent
review by an external auditor. This review will provide internal control by assuring
compliance with policies and procedures.
SECTION 14 — CUSTODY OF SECURITIES
All securities owned by the City except time deposits and securities used as collateral
for repurchase agreements (if added to this Investment Policy as an authorized
investment), will be kept in safekeeping by a third -party bank's trust department, acting
as an agent for the City under the terms of a custody agreement executed by the bank
and the City.
All securities will be received and delivered using standard delivery versus payment
procedures.
SECTION 15 - REPORTING
The Director of Finance/City Treasurer will provide a monthly investment report to the
City Council showing all transactions, type of investment, issuer, purchase date,
01
EXHIBIT A
maturity date, purchase price, par amount, yield to maturity, and current market value
for all securities.
SECTION 16 - POLICY REVIEW
This Investment Policy will be reviewed at least annually to ensure its consistency with:
1. The California Government Code sections that regulate the investment and
reporting of public funds.
2. The overall objectives of preservation of principal, sufficient liquidity, and a
market return.
10
EXHIBIT A
Glossary
Asset -Backed Securities (ABS) are securities whose income payments and hence
value is derived from and collateralized (or "backed") by a specified pool of underlying
assets which are receivables. Pooling the assets into financial instruments allows them
to be sold to general investors, a process called securitization, and allows the risk of
investing in the underlying assets to be diversified because each security will represent
a fraction of the total value of the diverse pool of underlying assets. The pools of
underlying assets can comprise common payments credit cards, auto loans, mortgage
loans, and other types of assets. Interest and principal is paid to investors from
borrowers who are paying down their debt.
Bankers' Acceptances are short-term credit arrangements to enable businesses to
obtain funds to finance commercial transactions. They are time drafts drawn on a bank
by an exporter or importer to obtain funds to pay for specific merchandise. By its
acceptance, the bank becomes primarily liable for the payment of the draft at maturity.
An acceptance is a high-grade negotiable instrument.
Broker -Dealer is a person or a firm who can act as a broker or a dealer depending on
the transaction. A broker brings buyers and sellers together for a commission. They do
not take a position. A dealer acts as a principal in all transactions, buying and selling for
his own account.
Certificates Of Deposit
1. Negotiable Certificates of Deposit are large -denomination CDs. They are
issued at face value and typically pay interest at maturity, if maturing in less than
12 months. CDs that mature beyond this range pay interest semi-annually.
Negotiable CDs are issued by U.S. banks (domestic CDs), U.S. branches of
foreign banks (Yankee CDs), and thrifts. There is an active secondary market for
negotiable domestic and Yankee CDs. However, the negotiable thrift CD
secondary market is limited. Yields on CDs exceed those on U.S. treasuries and
agencies of similar maturities. This higher yield compensates the investor for
accepting the risk of reduced liquidity and the risk that the issuing bank might fail.
State law does not require the collateralization of negotiable CDs.
2. Non-negotiable Certificates of Deposit are time deposits with financial
institutions that earn interest at a specified rate for a specified term. Liquidation of
the CD prior to maturity incurs a penalty. There is no secondary market for these
instruments, therefore, they are not liquid. They are classified as public deposits,
and financial institutions are required to collateralize them. Collateral may be
waived for the portion of the deposits that are covered by FDIC insurance.
11
EXHIBIT A
Collateral refers to securities, evidence of deposits, or other property that a borrower
pledges to secure repayment of a loan. It also refers to securities pledged by a bank to
secure deposits. In California, repurchase agreements, reverse repurchase
agreements, and public deposits must be collateralized.
Commercial Paper is a short term, unsecured, promissory note issued by a corporation
to raise working capital.
Federal Agency Obligations are issued by U.S. Government Agencies or Government
Sponsored Enterprises (GSE). Although they were created or sponsored by the U.S.
Government, most Agencies and GSEs are not guaranteed by the United States
Government. Examples of these securities are notes, bonds, bills and discount notes
issued by Fannie Mae (FNMA), Freddie Mac (FHLMC), the Federal Home Loan Bank
system (FHLB), and Federal Farm Credit Bank (FFCB). The Agency market is a very
large and liquid market, with billions traded every day.
Issuer means any corporation, governmental unit, or financial institution that borrows
money through the sale of securities.
Liquidity refers to the ease and speed with which an asset can be converted into cash
without loss of value. In the money market, a security is said to be liquid if the difference
between the bid and asked prices is narrow and reasonably sized trades can be done at
those quotes.
Local Agency Investment Fund (LAIF) is a special fund in the State Treasury that
local agencies may use to deposit funds for investment. There is no minimum
investment period and the minimum transaction is $5,000, in multiples of $1,000 above
that, with a maximum of $65 million for any California public agency. It offers high
liquidity because deposits can be converted to cash in twenty-four hours and no interest
is lost. All interest is distributed to those agencies participating on a proportionate share
determined by the amounts deposited and the length of time they are deposited.
Interest is paid quarterly via direct deposit to the agency's LAIF account. The State
keeps an amount for reasonable costs of making the investments, not to exceed one-
quarter of one per cent of the earnings.
Market Value is the price at which a security is trading and could presumably be
purchased or sold.
Maturity is the date upon which the principal or stated value of an investment becomes
due and payable.
Medium -Term Notes are debt obligations issued by corporations and banks, usually in
the form of unsecured promissory notes. These are negotiable instruments that can be
bought and sold in a large and active secondary market. For the purposes of California
Government Code, the term "Medium Term" refers to a maximum remaining maturity of
five years or less. They can be issued with fixed or floating-rate coupons, and with or
ii1pa
EXHIBIT A
without early call features, although the vast majority are fixed-rate and non -callable.
Corporate notes have greater risk than Treasuries or Agencies because they rely on the
ability of the issuer to make payment of principal and interest.
Money Market Fund is a type of investment comprising a variety of short-term securities
with high quality and high liquidity. The fund provides interest to shareholders. Prior to
amendments to the money market fund regulations adopted by the U.S. Securities and
Exchange Commission in 2014, all money market funds were required to strive to
maintain a stable net asset value (NAV) of $1 per share. Following the 2014 money
market fund reform, certain money market funds are required to sell and redeem shares
based on the current market-based value of the securities in their underlying portfolios
rounded to the fourth decimal place (i.e., transact at a floating or fluctuating net asset
value (NAV)). Accordingly, money market funds available today may be either a floating
NAV money market fund or a stable NAV money market fund.
Principal describes the original cost of a security. It represents the amount of capital or
money that the investor pays for the investment.
Repurchase Agreements are short-term investment transactions. Banks buy
temporarily idle funds from a customer by selling him U.S. Government or other
securities with a contractual agreement to repurchase the same securities on a future
date at an agreed upon interest rate. Repurchase Agreements are typically for one to
ten days in maturity. The customer receives interest from the bank. The interest rate
reflects both the prevailing demand for Federal Funds and the maturity of the Repo.
Repurchase Agreements must be collateralized.
Supranationals are securities issued or unconditionally guaranteed by multi -lateral
international financial institutions whose member nations contribute capital and
participate in management.
U.S. Treasury Issues are direct obligations of the United States Government. They are
highly liquid and are considered the safest investment security. U.S. Treasury issues
include:
1. Treasury Bills which are non-interest-bearing discount securities issued by the
U.S. Treasury to finance the national debt. Bills are currently issued in 4 -week, 8 -
week, 13 -week, 26 -week, and 52-week maturities.
2. Treasury Notes that have original maturities of one to ten years.
3. Treasury Bonds that have original maturities of greater than 10 years.
Yield to Maturity is the rate of income return on an investment, minus any premium
above par or plus any discount with the adjustment spread over the period from the date
of the purchase to the date of maturity of the bond.
CITY OF SEAL BEACH
Statement of Investment Policy
SECTION 1 - POLICY
This Statement of Investment Policy is intended to identify the policies for prudent
investment of temporarily idle funds of the City of Seal Beach (the "City") by providing
guidelines for suitable investments while maximizing the efficiency of the City's Cash
Management Program.
The City's Cash Management Program is designed to accurately monitor and forecast
expenditures and revenues, thus enabling the investment of funds to the fullest extent
possible.
The investment policies and practices of the City of Seal Beach are based upon state
law and prudent money management. All funds will be invested in accordance with
California Government Code Sections 53601 et seq. and the City's Investment Policy.
SECTION 2 - SCOPE
The Investment Policy applies to all funds and investment activities of the City except
the investment of bond proceeds, which are governed by the appropriate bond
documents, and any pension or other post -employment benefit funds held in a trust.
SECTION 3 - PRUDENCE
The standard of prudence to be used by investment officials will be the "prudent
investor" standard, which states that, "when investing, reinvesting, purchasing,
acquiring, exchanging, selling, or managing public funds, a trustee shall act with care,
skill, prudence, and diligence under the circumstances then prevailing, including, but not
limited to, the general economic conditions and the anticipated needs of the agency,
that a prudent person acting in a like capacity and familiarity with those matters would
use in the conduct of funds of a like character and with like aims, to safeguard the
principal and maintain the liquidity needs of the agency."
SECTION 4 - OBJECTIVES
The primary objectives, in priority order, of the investment activities of the City are:
1. SAFETY — Safety of principal is the foremost objective of the City of Seal Beach.
2. LIQUIDITY — The City's portfolio will remain sufficiently liquid to enable the City
to meet its cash flow requirements. It is important that the portfolio contain
investments which provide the ability of being easily sold at any time with minimal
risk of loss of principal or interest.
3. YIELD — The City's portfolio will be designed to attain a market rate of return
through economic cycles consistent with the constraints imposed by its safety
objective and cash flow considerations.
SECTION 5 - DELEGATION OF AUTHORITY
Pursuant to California Government Code Section 53607, the City Council has delegated
its investment authority and the management responsibility for the investment program
to the Director of Finance/City Treasurer for a period of one year concurrently with the
City Council's adoption of this Investment Policy. This delegation of investment
authority is subject to review and annual renewal by the City Council in its discretion,
which annual renewal may be made by the City Council in connection with its annual
budget adoption or an amendment to this Investment Policy, or at such other time as
appropriate and convenient. The Director of Finance/City Treasurer will monitor and
review all investments for consistency with this Investment Policy. The Director of
Finance/City Treasurer may grant investment decision making and execution authority
to an investment advisor, provided that the Director of Finance/City Treasurer exercises
prudence in the selection of the investment advisor, imposes suitable safeguards to
prevent abuse in the exercise of discretion by the investment advisor, and remains
responsible for any investment decisions made by the investment advisor. The advisor
will follow the Investment Policy and such other written instructions as are provided.
SECTION 6 - INVESTMENT PROCEDURES
The Director of Finance/City Treasurer will establish investment procedures for the
operation of the City's investment program.
SECTION 7 - ETHICS AND CONFLICT OF INTEREST
Officers and employees involved in the investment process will refrain from personal
business activities that could conflict with proper execution of the investment program,
or which could impair their ability to make impartial decisions.
4
SECTION 8 — AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
If the City is executing transactions on its own behalf, other than those executed directly
with issuer, the Director of Finance/City Treasurer will maintain a list of financial dealers
and institutions qualified and authorized to transact business with the City.
In accordance with California Government Code Section 53601.5, the purchase by the
City of any investment other than those purchased directly from the issuer, will be
purchased either from an institution licensed by the State as a broker-dealer, as defined
in Section 25004 of the Corporations Code, which is a member of the Financial Industry
Regulatory Authority (FINRA), or a member of a federally regulated securities
exchange, a national or state chartered bank, a federal or state association (as defined
by Section 5102 of the Financial Code), or a brokerage firm designated as a Primary
Government Dealer by the Federal Reserve Bank.
The Director of Finance/City Treasurer will investigate all institutions that wish to do
business with the City, to determine if they are adequately capitalized, make markets in
securities appropriate for the City's needs, and agree to abide by the conditions set forth
in the City of Seal Beach's Investment Policy and any other guidelines that may be
provided. This will be done annually by having the financial institutions:
1. Provide written notification that they have read, and will abide by, the City's
Investment Policy.
2. Submit their most recent audited Financial Statement within 120 days of the
institution's fiscal year end.
If the City has an investment advisor, the investment advisor may use its own list of
authorized broker/dealers to conduct transactions on behalf of the City, provided that
the broker/dealer meets the requirements of the second paragraph, above, in this
Section 8.
Purchase and sale of securities will be made on the basis of competitive bids and offers
with a minimum of three quotes being obtained.
SECTION 9 - AUTHORIZED AND SUITABLE INVESTMENTS
Where this section specifies a percentage limitation for a particular security type, that
percentage is applicable only on the date of purchase. Credit criteria listed in this
section refers to the credit rating at the time the security is purchased. If an investment's
credit rating falls below the minimum rating required at the time of purchase, the
Director of Finance/City Treasurer will perform a timely review and decide whether to
sell or hold the investment.
The City will limit investments in any one non-government issuer, except
investment pools, to no more than 5% regardless of security type.
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1. U.S. Treasury obligations for which the full faith and credit of the United States
are pledged for the payment of principal and interest.
2. Federal agency or United States government-sponsored enterprise
obligations, participations, or other instruments, including those issued by or
fully guaranteed as to principal and interest by federal agencies or United States
government-sponsored enterprises. This will include any mortgage pass through
security issued and guaranteed by a Federal Agency with a maximum final
maturity of five years. Purchase of Federal Agency issued mortgage-backed
securities authorized by this subdivision may not exceed 20% of the City's
investment portfolio; portfolio concentration for all other investments in Federal
Agency securities is unrestricted.
3. Obligations of the State of California or any local agency within the state,
including bonds payable solely out of revenues from a revenue producing
property owned, controlled or operated by the state or any local agency, or by a
department, board, agency or authority of the state or any local agency.
4. Registered treasury notes or bonds of any of the other 49 states in addition
to California, including bonds payable solely out of the revenues from a
revenue-producing property owned, controlled, or operated by a state, or by a
department, board, agency, or authority of any of these states.
5. Bankers' Acceptances with a rating of the highest ranking or highest letter and
number rating as provided for by a nationally recognized statistical -rating
organization (NRSRO). Purchases of bankers' acceptances may not exceed 180
days. No more than 40% of the City's portfolio may be invested in bankers'
acceptances.
6. Commercial Paper of "prime" quality of the highest ranking or of the highest
letter and number rating as provided for by a NRSRO. The entity that issues the
commercial paper must meet all of the following conditions in either paragraph a
or paragraph b:
a. The entity meets the following criteria: (i) is organized and operating in the
United States as a general corporation, (ii) has total assets in excess of five
hundred million dollars ($500,000,000), and (iii) has debt other than
commercial paper, if any, that is rated in a rating category of "A" or higher,
or the equivalent, by a NRSRO.
b. The entity meets the following criteria: (i) is organized within the United
States as a special purpose corporation, trust, or limited liability company,
(ii) has program -wide credit enhancements including, but not limited to, over
collateralization, letters of credit, or surety bond, and (iii) has commercial
paper that is rated in a rating category of "A-1" or higher, or the equivalent,
by a NRSRO.
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Eligible commercial paper will have a maximum maturity of 270 days or less. No
more than 25% of the City's portfolio may be invested in commercial paper. The
City may purchase no more than 10% of the outstanding commercial paper of
any single issuer.
7. Non-negotiable Certificates of Deposit (time CDs) in a state or national bank,
savings association or federal association, or federal or state credit union with a
branch in the State of California. In accordance with California Government Code
Section 53635.2, to be eligible to receive City deposits, a financial institution will
have received an overall rating of not less than "satisfactory" in its most recent
evaluation, pursuant to the federal Community Reinvestment Act, by the
appropriate federal financial supervisory agency of its record of meeting the
credit needs of California's communities. Time CDs are required to be
collateralized as specified under Government Code Section 53630 et seq. The
City, at its discretion, may waive the collateralization requirements for any portion
that is covered by federal deposit insurance. The City will have a signed
agreement with any depository accepting City funds per Government Code
Section 53649. No deposits will be made at any time in time CDs issued by a
state or federal credit union if a member of the City Council or the Director of
Finance/City Treasurer serves on the board of directors or any committee
appointed by the board of directors of the credit union. In accordance with
Government Code Section 53638, any deposit will not exceed that total
shareholder's equity of any depository bank, nor will the deposit exceed the total
net worth of any institution.
8. Negotiable Certificates of Deposit issued by a nationally or state -chartered
bank, a savings association or a federal association (as defined by Section 5102
of the Financial Code), a state or federal credit union, or by a federally- or state -
licensed branch of a foreign bank. No more than 30% of the City's portfolio may
be invested in negotiable CDs.
9. Medium -Term Notes issued by corporations organized and operating within the
United States or by depository institutions licensed by the U.S. or any state and
operating within the U.S. Medium-term corporate notes will be rated in a rating
category "A" or its equivalent or better by a NRSRO. No more than 30% of the
City's portfolio may be invested in medium-term notes.
10. Shares of beneficial interest issued by diversified management companies
that are money market funds registered with the Securities and Exchange
Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1,
et seq.). To be eligible for investment pursuant to this subdivision these
companies will either: (i) attain the highest ranking letter or numerical rating
provided by at least two NRSROs or (ii) have retained an investment advisor
registered or exempt from registration with the Securities and Exchange
Commission with not less than five years of experience managing money market
mutual funds and with assets under management in excess of $500,000,000. In
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addition, an eligible money market fund must maintain a stable net asset value
(NAV). No more than 20% of the City's investment portfolio may be invested in
money market funds.
11. State of California's Local Agency Investment Fund (LAIF) an investment
pool run by the State Treasurer. The City can invest up to the maximum amount
permitted by the State Treasurer.
12.Shares of beneficial interest issued by a joint powers authority (Local
Government Investment Pools) organized pursuant to Government Code Section
6509.7 that invests in the securities and obligations authorized in subdivisions (a)
to (q) of California Government Code Section 53601, inclusive. Each share will
represent an equal proportional interest in the underlying pool of securities
owned by the joint powers authority. The Pool will be rated in a rating category
"AAA" or its equivalent by a NRSRO. To be eligible under this section, the shares
will maintain a stable net asset value (NAV) and the joint powers authority issuing
the shares will have retained an investment adviser that meets all of the following
criteria:
a. The adviser is registered or exempt from registration with the Securities and
Exchange Commission.
b. The adviser has not less than five years of experience investing in the
securities and obligations authorized in subdivisions (a) to (q) Government
Code Section 53601, inclusive.
c. The adviser has assets under management in excess of five hundred million
dollars ($500,000,000).
13.Asset-Backed Securities (ABS) such as a mortgage passthrough security,
collateralized mortgage obligation, mortgage-backed or other pay -through bond,
equipment lease -backed certificate, consumer receivable passthrough certificate,
or consumer receivable -backed bond of a maximum remaining maturity of five
years or less. ABS eligible for investment shall be rated in a rating category of
"AX or its equivalent or better by an NRSRO. No more than 20% of the City's
investment portfolio may be invested in ABS.
14.Supranationals. United States dollar denominated senior unsecured
unsubordinated obligations issued or unconditionally guaranteed by the
International Bank for Reconstruction and Development, International Finance
Corporation, or Inter -American Development Bank, with a maximum remaining
maturity of five years or less, and eligible for purchase and sale within the United
States. Obligations issues by supranationals will be rated in a rating category
"AX or better by an NRSRO. No more than 30% of the City's investment
portfolio may be invested in supranationals.
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SECTION 10 — INVESTMENT POOLS/MONEY MARKET FUNDS
A thorough investigation of investment pools and money market funds is required prior
to investing, and on a continual basis.
SECTION 11 — MAXIMUM MATURITY
Maturities will be based on an analysis of the receipt of revenues and maturity of
investments. Maturities will be scheduled to permit the City to meet all disbursement
requirements.
The City may not invest in a security whose maturity exceeds five years from the
date of purchase unless City Council has provided approval for a specific
purpose at least 90 days before the investment is made.
SECTION 12 - PROHIBITED INVESTMENTS
Investments not described herein, including, but not limited to, reverse repurchase
agreements, stocks, inverse floaters, range notes, commercial mortgage-backed,
interest -only strips, or any security that could result in zero interest accrual if held to
maturity are prohibited for investment by the City, except as authorized by California
Government Code Section 53601.6.
SECTION 13 - INTERNAL CONTROL
The Director of Finance/City Treasurer will establish an annual process of independent
review by an external auditor. This review will provide internal control by assuring
compliance with policies and procedures.
SECTION 14 CUSTODY OF SECURITIES
All securities owned by the City except time deposits and securities used as collateral
for repurchase agreements (if added to this Investment Policy as an authorized
investment), will be kept in safekeeping by a third -party bank's trust department, acting
as an agent for the City under the terms of a custody agreement executed by the bank
and the City.
All securities will be received and delivered using standard delivery versus payment
procedures.
SECTION 15 — REPORTING
The Director of Finance/City Treasurer will provide a monthly investment report to the
City Council showing all transactions, type of investment, issuer, purchase date,
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maturity date, purchase price, par amount, yield to maturity, and current market value
for all securities.
SECTION 16 - POLICY REVIEW
This Investment Policy will be reviewed at least annually to ensure its consistency with:
1. The California Government Code sections that regulate the investment and
reporting of public funds.
2. The overall objectives of preservation of principal, sufficient liquidity, and a
market return.
Glossary
Asset -Backed Securities (ABS) are securities whose income payments and hence
value is derived from and collateralized (or "backed") by a specified pool of underlying
assets which are receivables. Pooling the assets into financial instruments allows them
to be sold to general investors, a process called securitization, and allows the risk of
investing in the underlying assets to be diversified because each security will represent
a fraction of the total value of the diverse pool of underlying assets. The pools of
underlying assets can comprise common payments credit cards, auto loans, mortgage
loans, and other types of assets. Interest and principal is paid to investors from
borrowers who are paying down their debt.
Bankers' Acceptances are short-term credit arrangements to enable businesses to
obtain funds to finance commercial transactions. They are time drafts drawn on a bank
by an exporter or importer to obtain funds to pay for specific merchandise. By its
acceptance, the bank becomes primarily liable for the payment of the draft at maturity.
An acceptance is a high-grade negotiable instrument.
Broker -Dealer is a person or a firm who can act as a broker or a dealer depending on
the transaction. A broker brings buyers and sellers together for a commission. They do
not take a position. A dealer acts as a principal in all transactions, buying and selling for
his own account.
Certificates Of Deposit
1. Negotiable Certificates of Deposit are large -denomination CDs. They are
issued at face value and typically pay interest at maturity, if maturing in less than
12 months. CDs that mature beyond this range pay interest semi-annually.
Negotiable CDs are issued by U.S. banks (domestic CDs), U.S. branches of
foreign banks (Yankee CDs), and thrifts. There is an active secondary market for
negotiable domestic and Yankee CDs. However, the negotiable thrift CD
secondary market is limited. Yields on CDs exceed those on U.S. treasuries and
agencies of similar maturities. This higher yield compensates the investor for
accepting the risk of reduced liquidity and the risk that the issuing bank might fail.
State law does not require the collateralization of negotiable CDs.
2. Non-negotiable Certificates of Deposit are time deposits with financial
institutions that earn interest at a specified rate for a specified term. Liquidation of
the CD prior to maturity incurs a penalty. There is no secondary market for these
instruments, therefore, they are not liquid. They are classified as public deposits,
and financial institutions are required to collateralize them. Collateral may be
waived for the portion of the deposits that are covered by FDIC insurance.
Collateral refers to securities, evidence of deposits, or other property that a borrower
pledges to secure repayment of a loan. It also refers to securities pledged by a bank to
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secure deposits. In California, repurchase agreements, reverse repurchase
agreements, and public deposits must be collateralized.
Commercial Paper is a short term, unsecured, promissory note issued by a corporation
to raise working capital.
Federal Agency Obligations are issued by U.S. Government Agencies or Government
Sponsored Enterprises (GSE). Although they were created or sponsored by the U.S.
Government, most Agencies and GSEs are not guaranteed by the United States
Government. Examples of these securities are notes, bonds, bills and discount notes
issued by Fannie Mae (FNMA), Freddie Mac (FHLMC), the Federal Home Loan Bank
system (FHLB), and Federal Farm Credit Bank (FFCB). The Agency market is a very
large and liquid market, with billions traded every day.
Issuer means any corporation, governmental unit, or financial institution that borrows
money through the sale of securities.
Liquidity refers to the ease and speed with which an asset can be converted into cash
without loss of value. In the money market, a security is said to be liquid if the difference
between the bid and asked prices is narrow and reasonably sized trades can be done at
those quotes.
Local Agency Investment Fund (LAIF) is a special fund in the State Treasury that
local agencies may use to deposit funds for investment. There is no minimum
investment period and the minimum transaction is $5,000, in multiples of $1,000 above
that, with a maximum of $65 million for any California public agency. It offers high
liquidity because deposits can be converted to cash in twenty-four hours and no interest
is lost. All interest is distributed to those agencies participating on a proportionate share
determined by the amounts deposited and the length of time they are deposited.
Interest is paid quarterly via direct deposit to the agency's LAIF account. The State
keeps an amount for reasonable costs of making the investments, not to exceed one-
quarter of one per cent of the earnings.
Market Value is the price at which a security is trading and could presumably be
purchased or sold.
Maturity is the date upon which the principal or stated value of an investment becomes
due and payable.
Medium -Term Notes are debt obligations issued by corporations and banks, usually in
the form of unsecured promissory notes. These are negotiable instruments that can be
bought and sold in a large and active secondary market. For the purposes of California
Government Code, the term "Medium Term" refers to a maximum remaining maturity of
five years or less. They can be issued with fixed or floating-rate coupons, and with or
without early call features, although the vast majority are fixed-rate and non -callable.
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Corporate notes have greater risk than Treasuries or Agencies because they rely on the
ability of the issuer to make payment of principal and interest.
Money Market Fund is a type of investment comprising a variety of short-term securities
with high quality and high liquidity. The fund provides interest to shareholders. Prior to
amendments to the money market fund regulations adopted by the U.S. Securities and
Exchange Commission in 2014, all money market funds were required to strive to
maintain a stable net asset value (NAV) of $1 per share. Following the 2014 money
market fund reform, certain money market funds are required to sell and redeem shares
based on the current market-based value of the securities in their underlying portfolios
rounded to the fourth decimal place (i.e., transact at a floating or fluctuating net asset
value (NAV)). Accordingly, money market funds available today may be either a floating
NAV money market fund or a stable NAV money market fund.
Principal describes the original cost of a security. It represents the amount of capital or
money that the investor pays for the investment.
Repurchase Agreements are short-term investment transactions. Banks buy
temporarily idle funds from a customer by selling him U.S. Government or other
securities with a contractual agreement to repurchase the same securities on a future
date at an agreed upon interest rate. Repurchase Agreements are typically for one to
ten days in maturity. The customer receives interest from the bank. The interest rate
reflects both the prevailing demand for Federal Funds and the maturity of the Repo.
Repurchase Agreements must be collateralized.
Supranationals are securities issued or unconditionally guaranteed by multi -lateral
international financial institutions whose member nations contribute capital and
participate in management.
U.S. Treasury Issues are direct obligations of the United States Government. They are
highly liquid and are considered the safest investment security. U.S. Treasury issues
include:
1. Treasury Bills which are non-interest-bearing discount securities issued by the
U.S. Treasury to finance the national debt. Bills are currently issued in 4 -week, 8 -
week, 13 -week, 26 -week, and 52-week maturities.
2. Treasury Notes that have original maturities of one to ten years.
3. Treasury Bonds that have original maturities of greater than 10 years.
Yield to Maturity is the rate of income return on an investment, minus any premium
above par or plus any discount with the adjustment spread over the period from the date
of the purchase to the date of maturity of the bond.
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f SEA CITY OF SEAL BEACH
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Statement of Investment Policy
SECTION 1 - POLICY
This Statement of Investment Policy is intended to identify the policies for prudent
investment of temporarily idle funds of the City of Seal Beach (the "City") by providing
guidelines for suitable investments while maximizing the efficiency of the City's Cash
Management Program.
The City's Cash Management Program is designed to accurately monitor and forecast
expenditures and revenues, thus enabling the investment of funds to the fullest extent
possible.
The investment policies and practices of the City of Seal Beach are based upon state
law and prudent money management. All funds will be invested in accordance with
California Government Code Sections 53601 et seq. and the City's Investment Policy.
SECTION 2 - SCOPE
The Investment Policy applies to all funds and investment activities of the City except
the investment of bond proceeds, which are governed by the appropriate bond
documents, and any pension or other post -employment benefit funds held in a trust.
SECTION 3 - PRUDENCE
The standard of prudence to be used by investment officials will be the "prudent
investor" standard, which states that, "when investing, reinvesting, purchasing,
acquiring, exchanging, selling, or managing public funds, a trustee shall act with care,
skill, prudence, and diligence under the circumstances then prevailing, including, but not
limited to, the general economic conditions and the anticipated needs of the agency,
that a prudent person acting in a like capacity and familiarity with those matters would
use in the conduct of funds of a like character and with like aims, to safeguard the
principal and maintain the liquidity needs of the agency."
SECTION 4 — OBJECTIVES
The primary objectives, in priority order, of the investment activities of the City are:
1. SAFETY — Safety of principal is the foremost objective of the City of Seal Beach.
2. LIQUIDITY — The City's portfolio will remain sufficiently liquid to enable the City
to meet its cash flow requirements. It is important that the portfolio contain
investments which provide the ability of being easily sold at any time with minimal
risk of loss of principal or interest.
3. YIELD — The City's portfolio will be designed to attain a market rate of return
through economic cycles consistent with the constraints imposed by its safety
objective and cash flow considerations.
SECTION 5 - DELEGATION OF AUTHORITY
Pursuant to California Government Code Section 53607, the City Council has delegated
its investment authority and the management responsibility for the investment program
to the Director of Finance/City Treasurer for a period of one year concurrently with the
City Council's adoption of this Investment Policy. This delegation of investment
authority is subject to review and annual renewal by the City Council in its discretion,
which annual renewal may be made by the City Council in connection with its annual
budget adoption or an amendment to this Investment Policy, or at such other time as
appropriate and convenient. The Director of Finance/City Treasurer will monitor and
review all investments for consistency with this Investment Policy. The Director of
Finance/City Treasurer may grant investment decision making and execution authority
to an investment advisor, provided that the Director of Finance/City Treasurer exercises
prudence in the selection of the investment advisor, imposes suitable safeguards to
prevent abuse in the exercise of discretion by the investment advisor, and remains
responsible for any investment decisions made by the investment advisor. The advisor
will follow the Investment Policy and such other written instructions as are provided.
SECTION 6 — INVESTMENT PROCEDURES
The Director of Finance/City Treasurer will establish investment procedures for the
operation of the City's investment program.
SECTION 7 - ETHICS AND CONFLICT OF INTEREST
Officers and employees involved in the investment process will refrain from personal
business activities that could conflict with proper execution of the investment program,
or which could impair their ability to make impartial decisions.
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SECTION 8 — AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
If the City is executing transactions on its own behalf, other than those executed directly
with issuer, the Director of Finance/City Treasurer will maintain a list of financial dealers
and institutions qualified and authorized to transact business with the City.
In accordance with California Government Code Section 53601.5, the purchase by the
City of any investment other than those purchased directly from the issuer, will be
purchased either from an institution licensed by the State as a broker-dealer, as defined
in Section 25004 of the Corporations Code, which is a member of the Financial Industry
Regulatory Authority (FINRA), or a member of a federally regulated securities
exchange, a national or state chartered bank, a federal or state association (as defined
by Section 5102 of the Financial Code), or a brokerage firm designated as a Primary
Government Dealer by the Federal Reserve Bank.
The Director of Finance/City Treasurer will investigate all institutions that wish to do
business with the City, to determine if they are adequately capitalized, make markets in
securities appropriate for the City's needs, and agree to abide by the conditions set forth
in the City of Seal Beach's Investment Policy and any other guidelines that may be
provided. This will be done annually by having the financial institutions:
1. Provide written notification that they have read, and will abide by, the City's
Investment Policy.
2. Submit their most recent audited Financial Statement within 120 days of the
institution's fiscal year end.
If the City has an investment advisor, the investment advisor may use its own list of
authorized broker/dealers to conduct transactions on behalf of the City, provided that
the broker/dealer meets the requirements of the second paragraph, above, in this
Section 8.
Purchase and sale of securities will be made on the basis of competitive bids and offers
with a minimum of three quotes being obtained.
SECTION 9 — AUTHORIZED AND SUITABLE INVESTMENTS
Where this section specifies a percentage limitation for a particular security type, that
percentage is applicable only on the date of purchase. Credit criteria listed in this
section refers to the credit rating at the time the security is purchased. If an investment's
credit rating falls below the minimum rating required at the time of purchase, the
Director of Finance/City Treasurer will perform a timely review and decide whether to
sell or hold the investment.
The City will limit investments in any one non-government issuer, except
investment pools, to no more than 5% regardless of security type.
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1. U.S. Treasury obligations for which the full faith and credit of the United States
are pledged for the payment of principal and interest.
2. Federal agency or United States government-sponsored enterprise
obligations, participations, or other instruments, including those issued by or
fully guaranteed as to principal and interest by federal agencies or United States
government-sponsored enterprises. This will include any mortgage pass through
security issued and guaranteed by a Federal Agency with a maximum final
maturity of five years. Purchase of Federal Agency issued mortgage-backed
securities authorized by this subdivision may not exceed 20% of the City's
investment portfolio; portfolio concentration for all other investments in Federal
Agency securities is unrestricted.
3. Obligations of the State of California or any local agency within the state,
including bonds payable solely out of revenues from a revenue producing
property owned, controlled or operated by the state or any local agency, or by a
department, board, agency or authority of the state or any local agency.
4. Registered treasury notes or bonds of any of the other 49 states in addition
to California, including bonds payable solely out of the revenues from a
revenue-producing property owned, controlled, or operated by a state, or by a
department, board, agency, or authority of any of these states.
5. Bankers' Acceptances with a rating of the highest ranking or highest letter and
number rating as provided for by a nationally recognized statistical -rating
organization (NRSRO). Purchases of bankers' acceptances may not exceed 180
days. No more than 40% of the City's portfolio may be invested in bankers'
acceptances.
6. Commercial Paper of "prime" quality of the highest ranking or of the highest
letter and number rating as provided for by a NRSRO. The entity that issues the
commercial paper must meet all of the following conditions in either paragraph a
or paragraph b:
a. The entity meets the following criteria: (i) is organized and operating in the
United States as a general corporation, (ii) has total assets in excess of five
hundred million dollars ($500,000,000), and (iii) has debt other than
commercial paper, if any, that is rated in a rating category of "A" or higher,
or the equivalent, by a NRSRO.
b. The entity meets the following criteria: (i) is organized within the United
States as a special purpose corporation, trust, or limited liability company,
(ii) has program -wide credit enhancements including, but not limited to, over
collateralization, letters of credit, or surety bond, and (iii) has commercial
paper that is rated in a rating category of "A-1" or higher, or the equivalent,
by a NRSRO.
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Eligible commercial paper will have a maximum maturity of 270 days or less. No
more than 25% of the City's portfolio may be invested in commercial paper. The
City may purchase no more than 10% of the outstanding commercial paper of
any single issuer.
7. Non-negotiable Certificates of Deposit (time CDs) in a state or national bank,
savings association or federal association, or federal or state credit union with a
branch in the State of California. In accordance with California Government Code
Section 53635.2, to be eligible to receive City deposits, a financial institution will
have received an overall rating of not less than "satisfactory" in its most recent
evaluation, pursuant to the federal Community Reinvestment Act, by the
appropriate federal financial supervisory agency of its record of meeting the
credit needs of California's communities. Time CDs are required to be
collateralized as specified under Government Code Section 53630 et seq. The
City, at its discretion, may waive the collateralization requirements for any portion
that is covered by federal deposit insurance. The City will have a signed
agreement with any depository accepting City funds per Government Code
Section 53649. No deposits will be made at any time in time CDs issued by a
state or federal credit union if a member of the City Council or the Director of
Finance/City Treasurer serves on the board of directors or any committee
appointed by the board of directors of the credit union. In accordance with
Government Code Section 53638, any deposit will not exceed that total
shareholder's equity of any depository bank, nor will the deposit exceed the total
net worth of any institution.
8. Negotiable Certificates of Deposit issued by a nationally or state -chartered
bank, a savings association or a federal association (as defined by Section 5102
of the Financial Code), a state or federal credit union, or by a federally- or state -
licensed branch of a foreign bank. No more than 30% of the City's portfolio may
be invested in negotiable CDs.
9. Medium -Term Notes issued by corporations organized and operating within the
United States or by depository institutions licensed by the U.S. or any state and
operating within the U.S. Medium-term corporate notes will be rated in a rating
category "A" or its equivalent or better by a NRSRO. No more than 30% of the
City's portfolio may be invested in medium-term notes.
10. Shares of beneficial interest issued by diversified management companies
that are money market funds registered with the Securities and Exchange
Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1,
et seq.). To be eligible for investment pursuant to this subdivision these
companies will either: (i) attain the highest ranking letter or numerical rating
provided by at least two NRSROs or (ii) have retained an investment advisor
registered or exempt from registration with the Securities and Exchange
Commission with not less than five years of experience managing money market
mutual funds and with assets under management in excess of $500,000,000. In
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addition, an eligible money market fund must maintain a stable net asset value
(NAV). No more than 20% of the City's investment portfolio may be invested in
money market funds.
11. State of California's Local Agency Investment Fund (LAIF) an investment
pool run by the State Treasurer. The City can invest up to the maximum amount
permitted by the State Treasurer.
12. Shares of beneficial interest issued by a joint powers authority (Local
Government Investment Pools) organized pursuant to Government Code Section
6509.7 that invests in the securities and obligations authorized in subdivisions (a)
to (q) of California Government Code Section 53601, inclusive. Each share will
represent an equal proportional interest in the underlying pool of securities
owned by the joint powers authority. The Pool will be rated in a rating category
"AAA" or its equivalent by a NRSRO. To be eligible under this section, the shares
will maintain a stable net asset value (NAV) and the joint powers authority issuing
the shares will have retained an investment adviser that meets all of the following
criteria:
a. The adviser is registered or exempt from registration with the Securities and
Exchange Commission.
b. The adviser has not less than five years of experience investing in the
securities and obligations authorized in subdivisions (a) to (q) Government
Code Section 53601, inclusive.
c. The adviser has assets under management in excess of five hundred million
dollars ($500,000,000).
13.Asset-Backed Securities (ABS) such as a mortgage passthrough security,
collateralized mortgage obligation, mortgage-backed or other pay -through bond,
equipment lease -backed certificate, consumer receivable passthrough certificate,
or consumer receivable -backed bond of a maximum remaining maturity of five
years or less. ABS eligible for investment shall be rated in a rating category of
"AX or its equivalent or better by an NRSRO. No more than 20% of the City's
investment portfolio may be invested in ABS.
14.Supranationals. United States dollar denominated senior unsecured
unsubordinated obligations issued or unconditionally guaranteed by the
International Bank for Reconstruction and Development, International Finance
Corporation, or Inter -American Development Bank, with a maximum remaining
maturity of five years or less, and eligible for purchase and sale within the United
States. Obligations issues by supranationals will be rated in a rating category
"AX or better by an NRSRO. No more than 30% of the City's investment
portfolio may be invested in supranationals.
X
SECTION 10 — INVESTMENT POOLS/MONEY MARKET FUNDS
A thorough investigation of investment pools and money market funds is required prior
to investing, and on a continual basis.
SECTION 11 — MAXIMUM MATURITY
Maturities will be based on an analysis of the receipt of revenues and maturity of
investments. Maturities will be scheduled to permit the City to meet all disbursement
requirements.
The City may not invest in a security whose maturity exceeds five years from the
date of purchase unless City Council has provided approval for a specific
purpose at least 90 days before the investment is made.
SECTION 12 — PROHIBITED INVESTMENTS
Investments not described herein, including, but not limited to, reverse repurchase
agreements, stocks, inverse floaters, range notes, commercial mortgage-backed,
interest -only strips, or any security that could result in zero interest accrual if held to
maturity are prohibited for investment by the City, except as authorized by California
Government Code Section 53601.6.
SECTION 13 - INTERNAL CONTROL
The Director of Finance/City Treasurer will establish an annual process of independent
review by an external auditor. This review will provide internal control by assuring
compliance with policies and procedures.
SECTION 14 - CUSTODY OF SECURITIES
All securities owned by the City except time deposits and securities used as collateral
for repurchase agreements (if added to this Investment Policy as an authorized
investment), will be kept in safekeeping by a third -party bank's trust department, acting
as an agent for the City under the terms of a custody agreement executed by the bank
and the City.
All securities will be received and delivered using standard delivery versus payment
procedures.
SECTION 15 — REPORTING
The Director of Finance/City Treasurer will provide a monthly investment report to the
City Council showing all transactions, type of investment, issuer, purchase date,
7
maturity date, purchase price, par amount, yield to maturity, and current market value
for all securities.
SECTION 16 — POLICY REVIEW
This Investment Policy will be reviewed at least annually to ensure its consistency with:
1. The California Government Code sections that regulate the investment and
reporting of public funds.
2. The overall objectives of preservation of principal, sufficient liquidity, and a
market return.
E-13
m
w
Glossary
Asset -Backed Securities (ABS) are securities whose income payments and hence
value is derived from and collateralized (or "backed") by a specified pool of underlying
assets which are receivables. Pooling the assets into financial instruments allows them
to be sold to general investors, a process called securitization, and allows the risk of
investing in the underlying assets to be diversified because each security will represent
a fraction of the total value of the diverse pool of underlying assets. The pools of
underlying assets can comprise common payments credit cards, auto loans, mortgage
loans, and other types of assets. Interest and principal is paid to investors from
borrowers who are paying down their debt.
Bankers' Acceptances are short-term credit arrangements to enable businesses to
obtain funds to finance commercial transactions. They are time drafts drawn on a bank
by an exporter or importer to obtain funds to pay for specific merchandise. By its
acceptance, the bank becomes primarily liable for the payment of the draft at maturity.
An acceptance is a high-grade negotiable instrument.
Broker -Dealer is a person or a firm who can act as a broker or a dealer depending on
the transaction. A broker brings buyers and sellers together for a commission. They do
not take a position. A dealer acts as a principal in all transactions, buying and selling for
his own account.
Certificates Of Deposit
1. Negotiable Certificates of Deposit are large -denomination CDs. They are
issued at face value and typically pay interest at maturity, if maturing in less than
12 months. CDs that mature beyond this range pay interest semi-annually.
Negotiable CDs are issued by U.S. banks (domestic CDs), U.S. branches of
foreign banks (Yankee CDs), and thrifts. There is an active secondary market for
negotiable domestic and Yankee CDs. However, the negotiable thrift CD
secondary market is limited. Yields on CDs exceed those on U.S. treasuries and
agencies of similar maturities. This higher yield compensates the investor for
accepting the risk of reduced liquidity and the risk that the issuing bank might fail.
State law does not require the collateralization of negotiable CDs.
2. Non-negotiable Certificates of Deposit are time deposits with financial
institutions that earn interest at a specified rate for a specified term. Liquidation of
the CD prior to maturity incurs a penalty. There is no secondary market for these
instruments, therefore, they are not liquid. They are classified as public deposits,
and financial institutions are required to collateralize them. Collateral may be
waived for the portion of the deposits that are covered by FDIC insurance.
Collateral refers to securities, evidence of deposits, or other property that a borrower
pledges to secure repayment of a loan. It also refers to securities pledged by a bank to
9
secure deposits. In California, repurchase agreements, reverse repurchase
agreements, and public deposits must be collateralized.
Commercial Paper is a short term, unsecured, promissory note issued by a corporation
to raise working capital.
Federal Agency Obligations are issued by U.S. Government Agencies or Government
Sponsored Enterprises (GSE). Although they were created or sponsored by the U.S.
Government, most Agencies and GSEs are not guaranteed by the United States
Government. Examples of these securities are notes, bonds, bills and discount notes
issued by Fannie Mae (FNMA), Freddie Mac (FHLMC), the Federal Home Loan Bank
system (FHLB), and Federal Farm Credit Bank (FFCB). The Agency market is a very
large and liquid market, with billions traded every day.
Issuer means any corporation, governmental unit, or financial institution that borrows
money through the sale of securities.
Liquidity refers to the ease and speed with which an asset can be converted into cash
without loss of value. In the money market, a security is said to be liquid if the difference
between the bid and asked prices is narrow and reasonably sized trades can be done at
those quotes.
Local Agency Investment Fund (LAIF) is a special fund in the State Treasury that
local agencies may use to deposit funds for investment. There is no minimum
investment period and the minimum transaction is $5,000, in multiples of $1,000 above
that, with a maximum of $65 million for any California public agency. It offers high
liquidity because deposits can be converted to cash in twenty-four hours and no interest
is lost. All interest is distributed to those agencies participating on a proportionate share
determined by the amounts deposited and the length of time they are deposited.
Interest is paid quarterly via direct deposit to the agency's LAW account. The State
keeps an amount for reasonable costs of making the investments, not to exceed one-
quarter of one per cent of the earnings.
Market Value is the price at which a security is trading and could presumably be
purchased or sold.
Maturity is the date upon which the principal or stated value of an investment becomes
due and payable.
Medium -Term Notes are debt obligations issued by corporations and banks, usually in
the form of unsecured promissory notes. These are negotiable instruments that can be
bought and sold in a large and active secondary market. For the purposes of California
Government Code, the term "Medium Term" refers to a maximum remaining maturity of
five years or less. They can be issued with fixed or floating-rate coupons, and with or
without early call features, although the vast majority are fixed-rate and non -callable.
10
m
w
Corporate notes have greater risk than Treasuries or Agencies because they rely on the
ability of the issuer to make payment of principal and interest.
Money Market Fund is a type of investment comprising a variety of short-term securities
with high quality and high liquidity. The fund provides interest to shareholders. Prior to
amendments to the money market fund regulations adopted by the U.S. Securities and
Exchange Commission in 2014, all money market funds were required to strive to
maintain a stable net asset value (NAV) of $1 per share. Following the 2014 money
market fund reform, certain money market funds are required to sell and redeem shares
based on the current market-based value of the securities in their underlying portfolios
rounded to the fourth decimal place (i.e., transact at a floating or fluctuating net asset
value (NAV)). Accordingly, money market funds available today may be either a floating
NAV money market fund or a stable NAV money market fund.
Principal describes the original cost of a security. It represents the amount of capital or
money that the investor pays for the investment.
Repurchase Agreements are short-term investment transactions. Banks buy
temporarily idle funds from a customer by selling him U.S. Government or other
securities with a contractual agreement to repurchase the same securities on a future
date at an agreed upon interest rate. Repurchase Agreements are typically for one to
ten days in maturity. The customer receives interest from the bank. The interest rate
reflects both the prevailing demand for Federal Funds and the maturity of the Repo.
Repurchase Agreements must be collateralized.
Supranationals are securities issued or unconditionally guaranteed by multi -lateral
international financial institutions whose member nations contribute capital and
participate in management.
U.S. Treasury Issues are direct obligations of the United States Government. They are
highly liquid and are considered the safest investment security. U.S. Treasury issues
include:
1. Treasury Bills which are non-interest-bearing discount securities issued by the
U.S. Treasury to finance the national debt. Bills are currently issued in 4 -week, 8 -
week, 13 -week, 26 -week, and 52-week maturities.
2. Treasury Notes that have original maturities of one to ten years.
3. Treasury Bonds that have original maturities of greater than 10 years.
Yield to Maturity is the rate of income return on an investment, minus any premium
above par or plus any discount with the adjustment spread over the period from the date
of the purchase to the date of maturity of the bond.
11
i�0� SEA('ec�9ti
f�
G� nyy
AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Steve Myrter, P.E., Director of Public Works
SUBJECT: Resolution Adjusting the Bidding Threshold for Public
Works Contracts and Adjusting the City Manager's Contract
Authority for the Acquisition of Goods and Services
SUMMARY OF REQUEST:
That the City Council adopt Resolution 7171:
1. Confirming the adjustment of bidding threshold for Public Works contracts
to $36,514 pursuant to the City Charter Section 1010; and,
2. Adjusting the City Manager's threshold to bind the City, with or without a
written contract, for the acquisition of equipment, materials, supplies,
labor, services, or other items within the budget approved by City Council
to $36,514 pursuant to City Charter 420 and Resolution 6384.
BACKGROUND AND ANALYSIS:
In March 2002, Section 1010 of the City Charter was amended to include a
formal procedure to calculate the bidding threshold for Public Works contracts.
The bidding threshold is to be adjusted annually based upon "computing the
percentage difference between the current Engineering News Record (ENR)
Construction Cost Index (CCI) 20 City Average and the ENR for the previous
June 1st". The purpose of the adjustment is to allow the City to maintain its
bidding threshold current with inflation. The City Charter specifies that the City
Engineer shall calculate the required adjustment and the City Council shall
confirm the calculation following a public hearing on the matter.
In June 2013, the City Council adopted Resolution 6384 authorizing the City
Manager to bind the City for the acquisition of equipment, materials, supplies,
labor, services or other items included in the budget up to the amount for each
acquisition equal to the bidding threshold amount for public works projects
applicable under Section 1010 of the City Charter.
Agenda Item G
On July 27, 2020, the City Council adopted Resolution 7060, increasing the
Public Works bidding threshold to $34,476 to account for a CCI increase of 1.49
percent.
Based on the June 2021 ENR publication, the CCI has increased 5.91 percent
from 11436 to 12112. This increase includes one year of adjustments to the
bidding threshold. A 5.91 percent increase would bring the bidding threshold from
$34,476 to $36,514.
This does not waive requirements of competitive bidding on projects. All projects
over the proposed threshold of $36,514 would require formal bidding procedures
and contracts per the City Charter and be awarded at a City Council meeting.
Contracts for projects under the proposed threshold of $36,514 may be awarded
pursuant to informal bidding procedures.
The proposed adjustment to the Public Works bidding threshold would result in
an increase in the City Manager's threshold to bind the City, with or without a
written contract, for the acquisition of equipment, materials, supplies, labor,
services, or other items within the budget approved by City Council to $36,514
pursuant to Resolution 6384.
ENVIRONMENTAL IMPACT:
This item is not subject to the California Environmental Quality Act ("CEQA")
pursuant to Section 15061(b)(3) of the state CEQA Guidelines because it can be
seen with certainty that the adjustment of bidding threshold for Public Works
contracts and increase in the City Manager's contract authority will not have a
significant effect on the environment.
LEGAL ANALYSIS:
The City Attorney has reviewed and approved the resolution as to form.
FINANCIAL IMPACT:
There are no financial impacts associated with the adjustment of bidding
threshold for Public Works contracts or the increase in the City Manager's
contract authority.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
Page 2
RECOMMENDATION:
That the City Council adopt Resolution 7171:
1. Confirming the adjustment of bidding threshold for Public Works contracts
to $36,514 pursuant to the City Charter Section 1010; and,
2. Adjusting the City Manager's threshold to bind the City, with or without a
written contract, for the acquisition of equipment, materials, supplies,
labor, services, or other items within the budget approved by City Council
to $36,514 pursuant to City Charter 420 and Resolution 6384.
SUBMITTED BY:
Steve Myrter
Steve Myrter, P.E., Director of
Public Works
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, City Manager
Prepared by: Iris Lee, Deputy Public Works Director/City Engineer
ATTACHMENTS:
A. Resolution 7171
B. ENR Construction Cost Index, June 2021
Page 3
RESOLUTION 7171
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
CONFIRMING AN ADJUSTMENT TO THE BIDDING
THRESHOLD FOR PUBLIC WORKS CONTRACTS TO
$36,514 AND AUTHORIZING THE CITY MANAGER TO
BIND THE CITY FOR THE ACQUISITION OF EQUIPMENT,
MATERIALS, SUPPLIES, LABOR, SERVICES OR OTHER
ITEMS INCLUDED WITHIN THE BUDGET TO $36,514,
PURSUANT TO SECTIONS 1010 AND 420 OF THE CITY
CHARTER AND CITY COUNCIL RESOLUTION 6384
WHEREAS, Section 420 of the City Charter states the City Council may authorize the
City Manager by resolution or ordinance to bind the City, with or without a written
contract, for the acquisition of equipment, materials, supplies, labor, services or other
items included within the budget approved by the City Council, and may impose a
monetary limit upon such authority; and,
WHEREAS, in June 2013, the City Council adopted Resolution 6384 authorizing the City
Manager to bind the City for the acquisition of equipment, materials, supplies, labor,
services or other items included in the budget up to the amount for each acquisition equal
to the bidding threshold amount for public works projects applicable under Section 1010
of the City Charter; and,
WHEREAS, Section 1010 of the City Charter requires the City Engineer to adjust the
bidding threshold by computing the percentage difference between the current
Engineering News Record (ENR) Construction Cost Index and the ENR Construction
Cost Index for the previous June 1St; and,
WHEREAS, the City Charter requires the City Council to review such adjustment at a
public hearing and upon Council confirmation, the bidding threshold amount shall be the
adjusted figure; and,
WHEREAS, the ENR Construction Cost Index was 11436 for June 2020, and the bidding
threshold was set at $34,476; and,
WHEREAS, the ENR Construction Cost Index was 12112 for June 2021, representing a
5.91 percent increase, and raising the bidding threshold to $36,514; and,
WHEREAS, on June 28, 2021, the City Council held a duly noticed public hearing
regarding the proposed adjustment threshold.
NOW, THEREFORE, THE SEAL BEACH CITY COUNCIL DOES HEREBY RESOLVE:
Section 1. The City Council hereby finds all facts in the above recitals are true and
correct and confirms the adjustment of the bidding threshold amount to
$36,514 as required by City Charter Section 1010.
Section 2. The City Council hereby adjusts the City Manager's threshold to bind the
City, with or without a written contract, for the acquisition of equipment,
materials, supplies, labor, services or other items included within the
budget approved by the City Council to $36,514, pursuant to the authority
conferred by Section 420 of the City Charter and Resolution 6384.
PASSED, APPROVED and ADOPTED by the Seal Beach City Council at a regular
meeting held on the 28th day of June, 2021 by the following vote:
AYES: Council Members
NOES: Council Members
ABSENT: Council Members
ABSTAIN: Council Members
Joe Kalmick, Mayor
/_�01*15
Gloria D. Harper, City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution 7171 on file in the office of the City
Clerk, passed, approved, and adopted by the City Council at a regular meeting held on
the 28th day of June, 2021.
Gloria D. Harper, City Clerk
<J
ENR's 20 -city average cost indexes, wages and material prices. Historical
data and details for ENR's 20 cities can be found at ENR.com/economics
Construction ' Building Materials
Cost Index Cost Index I Cost Index
ANNUAL ANNUAL MONTHLY
INFLATION RATE I INFLATION RATE I INFLATION RATE
1913=100 INDEX VALUE MONTH YEAR 1913=100 INDEX VALUE MONTH YEAR 1913=100 INDEX VALUE MONTH YEAR
CONSTRUCTION COST 12112.05 +1.0% +5.9%
COMMON LABOR 24256.31 0.0% +1.2%
WAGE $/HR. 46.60 0.0% +1.2%
BUILDING COST 6876.96 +1.8% +10.1%
MATERIALS COST
4434.89
+4.6%
+25.3%
SKILLED LABOR 10815.82 +0.1% +1.7%1
CEMENT $/TON
152.89
+0.9%
+3.9%
WAGE $/HR. 59.78 +0.1% +1.7%
STEEL $/CWT
62.00
+2.2%
+11.2%
1041.90
LUMBER $/MBF
982.80
+8.7%
+60.0%
The Construction Cost Index's annual escalation rose
I The Building Cost Index was up 10.1 % on an annual
I The MCI rose 4.6% on a monthly basis, while the
5.9%, while the monthly component was up 1 %.
basis, while the monthly component increased 1.8%. annual escalation rate increased 25.3%.
Inflation's Pulse Year-to-year and monthly percent changes for ENR's cost indexes
20.0 per/thousand
18.0 perrltno-d
1967
ANNUAL CONSTRUCTION COST INDEX
11418.16
1062.98
ANNUAL BUILDING COST INDEX
923.55
18.0
1041.90
23917.29
15.6
June
11436.23
3 16.0
6246.69
3 13.2
10636.87
1043.39
23965.12
1156.32
July
0 14.0
1064.93
0 10.8
z
926.32
z
1045.72
12
1156.32
8.4
11455.26
1066.43
6267.65
10.06.0
10679.46
1048.33
Now
JUNE'20 AUG. OCT. DEC.
FEB. APR. JUNE'21 JUNE'20 AUG. OCT. DEC. FEB. APR. JUNE'21
11498.81
.60
Alli 5.0 Adilk
932.56
MONTHLY CONSTRUCTION COST % CHANGE
I
24037.06
MONTHLY BUILDING COST % CHANGE
.48
11538.93
1074.22
4.0
938.96
10700.83
1049.86
24037.06
z
Nov.
.363.0
1077.96
6391.74
946.09
10722.23
0 2.0
24037.06
e .24
Dec.
11625.95
1082.33
6445.14
1.0
10743.67
.12
24037.06
0
2021 Jan.
0.0'
JUNETO AUG. OCT. DEC.
FEB. APR. JUNE'21 JUNE'20 AUG. OCT. DEC. FEB. APR. JUNE'21
956.17
SOURCE: ENR
Cost Index Review
BASE YEAR
1913
1967
1913
1967
1
1967
1913
1967
2020 May
11418.16
1062.98
6239.42
923.55
10626.24
1041.90
23917.29
1154.16
June
11436.23
1064.66
6246.69
924.62
10636.87
1043.39
23965.12
1156.32
July
11439.11
1064.93
6258.19
926.32
10658.14
1045.72
23965.12
1156.32
Aug.
11455.26
1066.43
6267.65
927.73
10679.46
1048.33
24013.05
1158.55
Sept.
11498.81
1070.49
6300.30
932.56
10690.14
1049.18
24037.06
1160.17
Oct.
11538.93
1074.22
6343.55
938.96
10700.83
1049.86
24037.06
1160.17
Nov.
11579.02
1077.96
6391.74
946.09
10722.23
1051.93
24037.06
1160.17
Dec.
11625.95
1082.33
6445.14
954.00
10743.67
1053.78
24037.06
1160.17
2021 Jan.
11627.94
1082.51
6459.83
956.17
10775.90
1057.04
24037.06
1160.17
Feb.
11698.80
1089.11
6493.19
961.11
10797.45
1058.78
24157.25
1165.88
Mar.
11749.75
1093.85
6545.22
968.81
10800.69
1059.05
24157.25
1165.88
Apr.
11849.31
1103.12
6612.50
978.77
10805.01
1059.49
24253.88
1170.25
May
11989.91
1116.21
6754.51
999.79
10805.01
1059.49
24253.88
1170.25
June
12112.05
1127.58
6876.96
1017.91
10815.82
1060.41
24256.31
1170.40
0607_ E_WK1.indd 1
t�
6/2/21
Cement prices rose 0.6% in April after
increasing 0.5% in March, according to the
Bureau of Labor Statistics' producer price index.
Annual escalation for the index fell to 2.7% after
sitting at 3.3% in March. ENR's 20 -city average
monthly price for masonry cement decreased
0.2% in June, with a yearly rise of 3.6%. All
types of asphalt paving experienced monthly and
yearly increases, while all types of crushed stone
had yearly increases. Prices for Portland cement
rose 0.1% from May, while prices are up 3.4% for
the year.
ENR's Materials Prices For June 2021
„I 20 -CITY AVERAGE
PRODUCER PRICE INDEX
CEMENT
Monthly Percent Change
3.0
2.5
2.0 I '
1.5
1.0
F 0.5
�0
a -0.5
-1.0
-1.5-
-2.0
-2.5
-3.0
X 0 A 0 D F A'21
SOURCE: BUREAU OF LABOR STATISTICS
1992=100
1992=100
1992=100
1992=100
ITEM
UNIT
$PRICE
%MONTH
%YEAR
ASPHALT PAVING
PG 58
TON
423.27
+2.2
+7.4
Cutback, MC800
TON
387.01
+0.6
+2.9
Emulsion, RAPID SET
TON
360.69
+0.3
+1.0
Emulsion, SLOW SET
TON
371.76
+0.3
+0.9
PORTLAND
Type one
TON
153.08
+0.1
+3.4
MASONRY
70 -Ib bag
TON
11.17
+0.2
+3.6
CRUSHED STONE
Base course
TON
12.70
+0.1
+0.7
Concrete course
TON
11.79
00.4
+0.1
Asphalt course
TON
14.21
+0.8
+3.5
Concrete
TON
10.94
+3.5
+4.9
Masonry
TON
13.31
+5.3
+7.5
CONCRETE
3,000 psi
CY
129.24
+1.4
+8.2
4,000 psi
CY
142.90
+0.7
+3.4
5,000 psi
CY
186.51
00.4
01.7
CONCRETE•
Normal weight: 80 x 80 x 160
C
162.58
+1.7
+10.6
Lightweight: 80 x 80 x 160
c
159.01
00.3
07.5
120 x 80 x 160
c
204.17
+2.7
+11.6
SOURCE:ENR
0607_CE_WK1.indd 2 6/2/21
Asphalt, Cement, Aggregate, Concrete, Block for June 2021
City prices reflect quotes from single sources and can be volatile. They are not meant to be the prevailing price for a city. D,
are a mix of list and transaction prices and may include ENR estimates. Do not compare prices between locations. Use city
formation to analyze national trends.
REM UNIT
ATLANTA
BALTIMORE
BIRMINGHAM
BOSTON
CHICAGO
CINCINNATI
CLEVELAND
DALLAS
DENVER
D
ASPHALT PAVING
PG 58 TON
+431.00
+485.00
385.00
437.62
402.87
+438.00
+442.50
+433.00
414.28
CUTBACK, MC800 TON
398.80
-
365.73
418.75
385.31
-
378.00
+398.97
392.35
EMULSION, RAPID SET TON
362.56
-
351.29
373.48
356.55
-
369.00
+368.15
363.72
EMULSION, SLOW SET TON
380.19
-
359.00
381.23
367.90
-
388.00
+392.70
370.16
PORTLAND CEMENT
TYPE ONE TON
159.52
-138.76
+148.19
146.36
+152.67
-129.48
130.53
+148.49
147.60
MASONRY CEMENT
70 -LB BAG TON
10.86
12.27
10.47
11.35
11.09
+11.90
+10.60
-10.93
11.05
CRUSHED STONE
BASE COURSE TON
11.41
12.25
+9.56
11.30
10.86
12.75
12.50
11.02
11.81
CONCRETE COURSE TON
11.60
14.15
10.82
12.05
11.69
11.45
8.29
11.56
10.93
ASPHALT COURSE TON
13.08
14.35
11.10
11.98
11.22
-
10.96
13.70
12.28
SAND
CONCRETE TON
10.25
+19.00
+9.40
10.09
10.05
+9.25
-7.75
9.67
9.73
MASONRY TON
12.35
+21.50
+11.62
12.16
11.99
+17.00
+14.50
12.50
11.51
READY -MIX CONCRETE
3,000 PSI CY
126.58
+128.23
+130.33
125.64
133.86
+126.90
+130.10
128.35
133.93
4
4,000 PSI CY
139.76
141.10
+142.63
143.71
145.65
+139.20
+144.23
149.22
148.08
f
5,000 PSI CY
160.40
196.30
+170.05
184.49
191.22
-200.40
-202.43
188.65
197.85
CONCRETE BLOCK
NORMAL WEIGHT. 8" x 8" x 16" C
+164.91
+188.00
148.62
162.56
153.48
158.00
+200.00
160.81
+175.28
+
LIGHTWEIGHT. 8" x 8" x 16" C
-167.60
150.00
160.95
174.48
169.92
144.00
155.00
178.10
+183.50
-
12" x 8" x 16" C
+192.25
+298.00
173.89
187.93
186.63
+245.00
+240.00
193.38
+202.10
+
ITEM UNIT
KANSAS CITY
LOS ANGELES
MINNEAPOLIS
NEW ORLEANS
NEW YORK
PHILADELPHIA
PITTSBURGH
ST. LOUIS
SAN FRANCISCO
SI
ASPHALT PAVING
PG 58 TON
455.00
370.00
+448.00
+425.60
+430.15
410.67
+486.00
+462.00
-
CUTBACK, MC800 TON
342.00
380.00
378.00
+388.37
+392.49
386.35
377.04
388.50
400.00
EMULSION, RAPID SET TON
322.00
350.00
328.00
-372.91
+363.52
372.78
314.20
378.00
425.00
EMULSION, SLOW SET TON
338.00
325.00
312.70
-381.75
+377.00
383.50
314.20
404.00
425.00
PORTLAND CEMENT
TYPE ONE TON
-120.00
210.14
-130.32
+148.82
143.07
147.96
151.91
148.72
296.00
MASONRY CEMENT
70 -LB BAG TON
9.88
8.50
-11.48
+10.30
10.92
+11.25
+12.37
13.37
12.97
CRUSHED STONE
BASE COURSE TON
10.64
34.00
8.18
+11.44
12.30
+12.36
10.60
8.00
26.00
CONCRETE COURSE TON
16.40
9.78
8.88
-11.08
12.81
-11.79
10.38
7.91
26.00
ASPHALT COURSE TON
16.40
39.97
8.15
+14.70
14.67
+13.95
9.52
9.00
24.00
SAND
CONCRETE TON
+9.50
29.15
+7.00
-10.62
11.05
+10.71
+8.75
+7.50
9.00
MASONRY TON
+17.00
10.56
+9.50
+11.93
12.89
+11.68
+10.50
+10.00
26.00
READY -MIX CONCRETE
3,000 PSI CY
+129.44
115.00
128.78
117.59
124.78
-126.52
-127.20
+124.80
-165.00
4,000 PSI CY
138.80
120.00
+140.20
133.84
141.56
-144.80
142.43
+137.75
-172.00
5,000 PSI CY
204.10
130.00
-201.54
168.73
179.12
-190.00
198.23
195.55
-177.00
CONCRETE BLOCK
NORMAL WEIGHT. 8" x 8" x 16" C
+185.00
145.00
-138.00
151.09
149.60
152.38
-158.00
+180.00
190.00
+
LIGHTWEIGHT. 8" x 8" x 16" C
138.00
131.00
-129.00
167.28
170.92
169.54
142.00
139.00
210.00
-
12" x 8" x 16" C
+252.00
177.85
-175.00
189.60
182.59
180.92
+209.00
198.00
210.00
+
+ OR - DENOTES PRICE HAS RISEN OR FALLEN SINCE PREVIOUS REPORT QUOTES ARE DELIVERED PRICES FOR PORTLAND AND MASONRY CEMENT, CONCRETE BLOCK AND READY -MIX CONCRETE. PRICES FOR CRUSHED STONE AND SAND ARE FOB PLANT. SOME PRICES MAY INCLUDE D
DISCOUNTS. FURTHER PRODUCT SPECIFICATIONS INCLUDE RAPID -SET EMULSION, CRS2; SLOW -SET EMULSION, CSS7 H; BASE COURSE, 1%" DOWN TO DUST, UNWASHED; CONCRETE COURSE, 1 Y2" THROUGH #4, WASHED; ASPHALT COURSE, Yz" THROUGH #4, UNWASHED; CONCRETE SA
MEDIUM CLEAN; MASONRY SAND, 2NS FINE CLEAN; CONCRETE BLOCK, 2 CORE. QUANTITIES ARE GENERALLY TRUCKLOADS.
0607_CE_WK1.indd 3
6/2/21
i�0� SEA('ec�9ti
G� nyy
AGENDA STAFF REPORT
�1'',,C'QCIFORN�P'r
DATE: June 28, 2021
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Les Johnson, Director of Community Development
SUBJECT: Zone Text Amendment 21-2 Amending portions of Title 11
of the Seal Beach Municipal Code regarding Regulations for
the Placement of Flags and Flagpoles on Residential
Properties
SUMMARY OF REQUEST:
That the City Council:
1. Hold a duly noticed public hearing, and;
2. Introduce Zone Text 21-2 for first reading and waive further reading of
Ordinance 1689, amending Title 11 of the Seal Beach Municipal Code
regarding Regulations for the Placement of Flags and Flagpoles on
Residential Properties and Finding the Ordinance to be Exempt from the
California Environmental Quality Act, and;
3. Schedule the second reading of Ordinance 1689 for the July 26, 2021 City
Council meeting.
BACKGROUND AND ANALYSIS:
BACKGROUND
Seal Beach Municipal Code Section 11.4.25.030(A)(2) (Signs — Residential
Districts) sets forth standards for the placement of flags on residential properties.
Per this section, flags on residential properties are considered signs and are limited
to one flag, not to exceed 12 square feet in area, per frontage. Flags may not
include commercial copy. Note: a standard sized 3 -foot x 5 -foot American flag is
technically not permitted on a residential property in Seal Beach.
The City recently received a code enforcement complaint regarding a property
flying two flags in violation of the above code section. As a result, community
interest has been raised regarding this issue, with staff receiving a number of calls
requesting the City reconsider the existing standards.
Agenda Item H
In considering potential revisions to the City's residential flag standards, City staff
surveyed Orange County cities to understand their regulations and to determine
whether best practices can be incorporated from neighboring jurisdictions.
Attachment 1 details these findings.
NEW SIGN STANDARDS FOR FLAGS/FLAGPOLES
Based on its research of other regulations and local circumstances, staff has
prepared a draft ordinance for consideration.
The proposed ordinance would establish a definition of a flagpole and revise
Section 11.4.25.030(A)(2) to allow a maximum of two flagpoles on a residential
property, subject to a maximum height of 25 feet above grade. The number of flags
would no longer be regulated, but staff is recommending a maximum area of 40
square feet for all flags on a residential property. Flags on temporary flagpoles
would be included in this calculation.
In defining a flagpole, staff recommends a flagpole be defined as any pole either
mounted in/to the ground or affixed to a structure to which one or more flags are
or can be attached. While many of the cities surveyed allowed flagpoles to 35 feet
in height, staff recommends a maximum height on residential properties of 25 feet,
in keeping with the general maximum building height in the City's residential zones.
Further, with the intent of considering the permissibility of allowing more than one
flag on a pole, staff is recommending that the maximum area of all flags on a
property be limited to a maximum combined area of 40 square feet. This would
potentially allow a standard -sized American flag and two 12 -square -foot flags or a
string of nautical flags to be flown from one or two flagpoles. The proposed
Municipal Code revisions are included in redline/strut format in the draft
Ordinance (Attachment 2).
PLANNING COMMISSION RECOMMENDATON
The Planning Commission considered Zone Text Amendment 21-2 at a duly
noticed public hearing on June 7, 2021. After considering information from City
staff and the public, the Commission voted 5-0 to recommend the City Council
approve Zone Text Amendment 21-1. Through its deliberation, the Planning
Commission suggested two modifications to the staff -proposed code revisions.
Specifically, the Commission recommended increasing the maximum number of
flagpoles allowed on a property to two and ensuring that temporary flagpoles are
included in the calculation of overall sign area on a property.
ENVIRONMENTAL IMPACT:
There is no environmental impact related to this item. Pursuant to the California
Environmental Quality Act ("CEQA"), the Community Development Department
has determined that Zone Text Amendment 21-2 is exempt from review under the
California Environmental Quality Act (California Public Resources Code §§ 21000,
et seq.,"CEQA") and CEQA regulations (14 California Code of Regulations §§
Page 2
15000, et seq.) because the amendment modifies and establishes rules and
procedures for the placement of flags and flagpoles on residentially -zoned
properties and consists only of minor revisions and clarifications to existing
regulations and specification of procedures related thereto for the new construction
of small accessory structures. The amendment therefore, does not have the
potential to cause significant effects on the environment. Consequently, it is
categorically exempt from further CEQA review under 14 Cal. Code Regs.
§15303(e), actions in compliance with the requirements of CEQA.
LEGAL ANALYSIS:
The City Attorney has reviewed and approved the Ordinance as to form.
FINANCIAL IMPACT:
There are no anticipated General Fund impacts associated with the approval of
Zone text Amendment 21-2.
STRATEGIC PLAN:
This item is not applicable to the Strategic Plan.
MEASURE BB:
This item is not applicable to Measure BB, the Seal Beach Neighborhood and
Essential Services Protection Measure.
RECOMMENDATION:
That the City Council:
1. Hold a duly noticed public hearing, and;
2. Introduce Zone Text 21-2 for first reading and waive further reading of
Ordinance 1689, amending Title 11 of the Seal Beach Municipal Code
regarding Regulations for the Placement of Flags and Flagpoles on
Residential Properties and Finding the Ordinance to be Exempt from the
California Environmental Quality Act, and;
3. Schedule the second reading of Ordinance 1689 for the July 26, 2021 City
Council meeting.
Page 3
SUBMITTED BY:
Les Johnson
Les Johnson, Director of
Community Development
NOTED AND APPROVED:
Jill R. Ingram
Jill R. Ingram, City Manager
Prepared by: Barry Curtis, AICP, Acting Senior Planner
ATTACHMENTS:
A. Ordinance 1689 — ZTA 21-2
B. Survey of Flag Standards from Orange County Cities
Page 4
ORDINANCE 1689
AN ORDINANCE OF THE CITY OF SEAL BEACH
AMENDING TITLE 11 OF THE SEAL BEACH MUNICIPAL
CODE REGARDING REGULATIONS FOR THE
PLACEMENT OF FLAGS AND FLAGPOLES ON
RESIDENTIAL PROPERTIES AND FINDING THE
ORDINANCE TO BE EXEMPT FROM THE CALIFORNIA
ENVIRONMENTAL QUALITY ACT
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES ORDAIN AS
FOLLOWS:
Section 1. Seal Beach Municipal Code Section 11.4.25.030(A)(2) (Signs —
Residential Districts) sets forth standards for the placement of flags on residential
properties and limits flags to one per frontage. Based on community concerns, staff has
identified the need to amend Seal Beach Municipal Code Section 11.4.25.030(A)(2) and
to add a definition of flagpole to Section 11.6.05.010 (Definitions of Specialized Terms
and Phrases).
Section 2. Procedural Findings. The City Council of the City of Seal Beach does
hereby find, determine, and declare that:
A. On June 7, 2021, the Planning Commission considered this
Ordinance at a duly noticed public hearing, as prescribed by law, at which time City staff
and interested persons had an opportunity to and did testify either in support of or against
this matter.
B. At the conclusion of the Planning Commission hearing and after due
consideration of the testimony, the Planning Commission adopted Resolution No. 21-09,
recommending approval of the Ordinance by the City Council.
C. The City Council, at a regular meeting, considered the Ordinance on
June 28, 2021, at a duly noticed public hearing, as prescribed by law, at which time City
staff and interested persons had an opportunity to and did testify either in support of or
against this matter.
D. Following the public hearing, the City Council considered the entire
record of information received at the public hearings before the Planning Commission
and City Council.
Section 3. Findings. In approving the proposed Zoning Code amendment, the
City Council hereby makes the following findings that the Ordinance is consistent with the
General Plan as follows:
A. The proposed Code Amendment is consistent with the following
General Plan Land Use Element Goal and Policy:
1. Features of the Community: A goal of the City is to maintain
and promote those social and physical qualities that enhance the character of the
community and the environment in which we live.
B. The proposed amendments are also consistent with Chapter 3 of the
Coastal Act, will not have an impact either individually or cumulatively on coastal
resources, and do not involve any change in existing or proposed use of land or water.
Section 4. Chapter 11.4.25.030 (Signs — Residential Districts) of Title 11 of the
Seal Beach Municipal Code is hereby amended to read as follows:
"Sec. 11.4.25.030. — Signs -Residential Districts.
The regulations of this section shall apply to all residential districts, as well as residential
uses located in nonresidential zones.
A. Permitted Signs. In addition to the exempt signs listed in Section 11.4.25.010:
Exempt Signs, the following signs are permitted in residential zones:
1. Subdivision Identification Signs. A subdivision in a residential district shall
be permitted to display a subdivision identification sign or signs not exceeding
25 square feet in aggregate area. Such sign(s) must be attached to a wall, fence,
or gateway structure, and integrated with the design of the structure. Larger
signs may be approved by minor use permit pursuant to Chapter 11.5.20:
Development Permits.
2. Flags/Flagpoles. Each site may display a total efcontain no more than two
flagpoles not to exceed 25 feet in height above grade per frontage. ode -Flaps
may only be displayed on a flagpole. The cumulative area of all flags on a
property shall not exceed 4240 square feet in aFea or contain commercial copy.
Flags on temporary flagpoles shall be included in a site's overall flag area
calculation.
3. Commercial Signs. One sign indicating the presence on the property of an
approved use subject to Chapter 11.5.20: Development Permits. Such sign shall
not exceed 12 square feet in area, unless a greater area is specifically approved
by the decision-making authority as part of the use permit approval.
B. Illumination. No sign governed by this section shall be internally illuminated.
(Ord. 1598)
Section 5. Chapter 11.6.05.010 (Definitions of Specialized Terms and Phrases)
of Title 11 of the Seal Beach Municipal Code is hereby amended to add a definition for a
flagpole to read as follows, with all other portions of Table 11.6.05.010 remaining the
same:
Flagpole: a staff or pole, either mounted in/to the ground or affixed to a structure, on
which one or more flags are or can be displayed.
4
Section 6. California Environmental Quality Act Exemption. The City Council
determines that this ordinance is exempt from environmental review under the California
Environmental Quality Act, (California Public Resources Code §§ 21000, et seq.,
("CEQA") and the CEQA Guidelines (14 California Code of Regulations §§ 15000, et seq.)
because the amendment modifies and establishes rules and procedures for the
placement of flags and flagpoles on residentially -zoned properties and consists only of
minor revisions and clarifications to existing regulations and specification of procedures
related thereto for the new construction of small accessory structures. The amendment
therefore, does not have the potential to cause significant effects on the environment.
Consequently, it is categorically exempt from further CEQA review under 14 Cal. Code
Regs. §15303(e), actions in compliance with the requirements of CEQA.
Section 7. Certification. The City Clerk shall certify to the passage and adoption
of this Ordinance and shall cause the same to be published or posted in the manner
required by law.
Section 8. Effective Date. This Ordinance shall take effect thirty (30) days after
passage.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of Seal
Beach this day of , 2021.
ATTEST:
Gloria Harper, City Clerk
APPROVED AS TO FORM:
Craig Steele, City Attorney
[SEAL]
3
Joe Kalmick, Mayor
Survey of Flag/Flagpole Standards
Orange County Cities
City
Maximum #
Flagpoles
Maximum
Height
Maximum
Area
Notes
Aliso Viejo
2
Max. bldg. height
--
One national, one
state
Anaheim
1
--
--
Maximum of 3 flags
Costa Mesa
--
--
--
No products, logos,
business names
Cypress
--
--
--
Dana Point
3
--
--
More than 3 flags
requires a CUP
Fountain Valley
1
35 ft
--
Garden Grove
--
--
Huntington Beach
-
--
--
Laguna Beach
-
--
--
Laguna Niguel
--
--
7 sf
Building mounted
Lake Forest
2
35 ft
Los Alamitos
--
--
--
Maximum of 3 flags
Newport Beach
--
28 ft
120 sf
Maximum of 3
flags. No flag shall
exceed 40 sf
San Clemente
3
--
120 sf
No flag shall
exceed 40 sf
Tustin
--
--
--
Requires PC
approval
Westminster
--
35 ft
108 sf
Yorba Linda
--
35 ft
--