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Page 2 <br />BACKGROUND: D -2 - Annexation Guidelines <br />(cont'd) E -2 - Council Meetings Agenda Distribution to the Public by Mail <br />F -2 - Reserves/ Designations of Fund Balance <br />F -5 - Purchasing Authority for Goods and Services <br />G -3 - Preservation of Views <br />Attachment A describes these proposed changes briefly. Attachment B includes <br />the Strikeout and Insert version of the policies proposed for change. <br />Reaffirmation of City s Reaffirmation of City's Investment Policy. Following the County of Orange's <br />Investment Policy bankruptcy in late 1994, the State Legislature adopted SB 564 (Johnston) which <br />requires each local agency to consider its Statement of Investment Policy (the City <br />Council's Policy F -1) annually. The law reads as follows: — <br />Government Code § 53646 -- (a) The treasurer or chief fiscal officer shall annually <br />render to the legislative body of the local agency and any oversight committee a <br />statement of investment policy, which the legislative body of the local agency shall <br />consider at a public meeting. Any changes in the policy shall also be considered by <br />the legislative body of the local agency at a public meeting. <br />The Administrative Services Department does not recommend any changes to <br />the Statement of Investment Policy at this time, but offers the policy in full <br />(provided within Attachment B) as a part of the City's obligations under SB 564 <br />Qohnston). The Council's review of this policy at a public meeting (the March 14, <br />2000 City Council Meeting) completes this obligation. <br />ATTACHMENTS: Attachment A - Council Policy Summary <br />Attachment B - Strike -out and Underline Version of Council Policies A -2, A-4, <br />A -6, D -2, E -2, F -2, F -5, and G -3. NOTE: Council Policy F -I <br />unchanged but included per the City's SB 564 annual review of the <br />Statement of Investment Policy <br />7 <br />