Agenda packet — Bellflower City Council, January 12, 2023 (part 2 of 2)

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City of Bellflower
Resolution No. 23-01

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PASSED, APPROVED, AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF BELLFLOWER ON THIS 12TH DAY OF JANUARY 2023.

________________________________
Sonny R. Santa Ines, Mayor

ATTEST:

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Mayra Ochiqui, City Clerk

APPROVED AS TO FORM:

________________________________
Karl H. Berger, City Attorney

ATTACHMENT:

Exhibit A - Investment Policy

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CITY OF BELLFLOWER

INVESTMENT POLICY
(Refer Resolution No. 23-01)

It is the policy of the City of Bellflower to invest public funds in a manner, which will provide the maximum security with liquidity to meet the daily cash flow demands of the City while earning a reasonable rate of return and conforming to all state and local statutes governing the investment of public funds.

This investment policy applies to all financial assets of the City. These funds are accounted for in the City's Annual Comprehensive Financial Report and include:

 General Fund  Debt Service Funds
 Special Revenue Funds  Internal Service Fund
 Capital Projects Funds  Fiduciary/Trust/Agency Funds  Enterprise Fund

Investments must be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived.

 The standard of prudence to be used by investment officials must be the "prudent person" standard and be applied in the context of managing an overall portfolio.

Investment officers acting in accordance with the investment policy and exercising due diligence are relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments.

The primary objectives, in priority order, of the City's investment activities are:

1. Safety: Safety of principal is the foremost objective of the investment program.

Investments of the City must be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, diversification is required in order that potential losses on individual securities do not exceed the income generated from the remainder of the portfolio.

2. Liquidity: The City's investment portfolio will remain sufficiently liquid to enable the City to meet all operating requirements, which might be reasonably anticipated.

3. Return on Investments: The City's investment portfolio must be designed with the objective of attaining a rate of return throughout budgetary and economic cycles, commensurate with the City's investment risk constraints and the cash flow characteristics of the portfolio.

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City of Bellflower
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Management responsibility for the investment program is hereby delegated to the Treasurer, who must invest under the terms of this policy. The Treasurer is responsible for all transactions undertaken and must establish and maintain an adequate system of controls to regulate the investment activities. Under the authority granted by the City Council, no person may engage in an investment transaction covered by the terms of this policy unless directed by the Treasurer. Functioning under the delegated authority, the Treasurer may establish accounts with qualified financial institutions and brokers/dealers for the purpose of effecting investment transactions in accordance with this Policy. Such agreements may include: safekeeping, overnight passbook sweep accounts, wire transfer agreements, banking service contracts and collateral/depository agreements.

Investments can be purchased only through well-established, financially sound institutions and brokers/dealers. Those desiring to become qualified bidders for investment transactions will be given a copy of the City’s Investment Policy. These entities must then return a signed cover letter indicating that the City’s Investment Policy has been read and understood.

Officers and employees involved in the investment process must refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officials must disclose to the City Manager any material financial interests in financial institutions that conduct business within this jurisdiction, and they must further disclose any large personal financial and investment positions that could be related to the performance of the City, particularly with regard to the time of purchases and sales.

Authorized Instruments:

Certain investments are prohibited under Government Code Section 53601.6 (or Government Code Sections 53630, et seq.) Included in the prohibition are inverse floaters, range notes, and interest only mortgage strips.

Allowable investment instruments are defined in Government Code Sections 53600, et seq. If the Government Code is further revised to allow additional investments or is changed regarding the limits on certain categories of investments, the City may be required to conform to these changes, excluding those changes that are prohibited by this policy. The City Council is empowered to authorize the following types of investments and deposits:

 Bankers Acceptances that are eligible for purchase by the Federal Reserve System.

 Certificates of Deposit.
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City of Bellflower
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 Negotiable Certificates of Deposit issued by nationally or state-chartered banks.

 Broker-assisted, private sector entity-assisted Certificates of Deposit (e.g., Certificate of Deposit Account Registry Service or CDARS).

 Commercial Paper issued by corporations that are organized and operating within the United States.

 State of California Local Agency Investment Fund.

 Medium-Term Notes issued by corporations organized and operating within the United States.

 Money market funds (whose portfolio consists of one or more of the foregoing legal investments).

 Mutual Funds.

 Passbook savings and money market accounts (federally insured or otherwise collateralized).

 Obligations of the U.S. Government, its agencies and instrumentalities.

Investment of proceeds from bonds, certificates of participation, and other debt instruments issued by the City will be made in accordance with the terms of the trust agreement which is separately approved by the City Council with respect to each of the debt instruments. This policy will not govern investment of City funds deposited in the California Public Employees' Retirement System, California Joint Powers Insurance Authority, and Deferred Compensation Plans.

Deposits
 Checking Accounts
 Passbook Savings Accounts
 Money Market Accounts

Funds must be deposited in state or national banks, state or federal savings associations, or state or federal credit unions in the State of California. The bank or savings and loan must secure all deposits with government securities having a market value of at least 110% of the total amount of the deposits, or with first trust deed mortgage notes having a value of at least 150% of the deposits. The City Treasurer may waive security for the first $250,000 of a deposit, which is federally insured, provided that the City receives a higher interest rate.
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City of Bellflower
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The legal restrictions identifying the investment percentage for any one category, maximum dollar limits, and other significant criteria are identified in the following table:

Permitted Investments State Legal
Limit (% of $)
Maximum
Maturity * Other Constraints
Bankers Acceptances 40% 180 Days No more than 30% of the City’s funds may be invested in the bankers acceptances of
any one commercial bank.

Commercial Paper 25% 270 Days Highest rating as provided for by Moody's, S&P, or Fitch. Must be issued by U.S.
corporations with assets in excess of
$500,000,000 and a “A” or higher rating for
other debt.

Local Agency Investment Fund
(LAIF)

N/A N/A
Los Angeles County Treasury Pool N/A N/A
Investment Trust of California,
CalTRUST

N/A N/A
Medium Term Notes 30% 5 Years Rated "A" or better by a nationally recognized rating service. Must be issued
by corporations organized and operating
within the U.S.

Mutual Funds (money market
funds, not federally insured)
20% N/A Mutual Funds invested as defined in
Government Code Section 53601 (a) to (j)
or (m) or (n) and Money Market Funds
registered with SEC; Highest rating from at
least 2 national rating organizations; No
more than 10% in any one Mutual Fund.

Negotiable Certificates of Deposit 30% 5 Years
Broker-Assisted, Private Sector
Entity-Assisted Certificates of
Deposit (e.g., CDARS)
30% 5 Years
Certificates of Deposit Unlimited 5 Years Must be FDIC insured or collateralized at 110% with government securities or 150%
with first trust deeds.

Passbook Savings and Money
Market Accounts (federally insured
or otherwise collateralized)
Unlimited Unlimited
Securities of the U.S. Government
including its agencies and
sponsored enterprises
Unlimited 5 Years
Securities of any State including its
agencies
Unlimited 5 Years
Securities of any local agency
within California
Unlimited 5 Years
Bonds of any local agency Unlimited 5 Years

* Maximum term unless expressly authorized by the City Council and within the prescribed time frame for said approval.

In the event of a ratings downgrade of a security in the City’s portfolio by any of the applicable rating agencies (Standard and Poor’s, Moody’s, Fitch, etc.) to a rating category below the minimum required for purchase, the City Treasurer may take any appropriate course of action for the said security for the best interest of the City.

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City of Bellflower
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Pursuant to Government Code Section 53646, the City Treasurer may provide monthly investment reports to the City Council and City Manager. The Treasurer's report must be submitted within forty-five (45) days following the end of the month and include the following information:

 List of all investments and deposits owned by the City.  Type of each investment.
 Issuer of each investment.
 Date of each investment's maturity.
 Par and dollar amount invested on all securities, investments and moneys held by the City.
 Current market value of the investment portfolio as of the date of the report and the source(s) of the valuation for the securities held by the City and under management of any outside party that is not also a local agency or the State of California Local Agency Investment Fund.
 If applicable, a description of any of the local agency’s funds, investments, or programs, that are under the management of contracted parties, including lending programs.
 A statement as to whether the City's investments comply with this Statement of Investment Policy.
 A statement denoting the ability of the City to meet its expenditure requirements for the next six months.

The City's investment policy may be amended annually by resolution of the City Council.

This investment policy will be reviewed at least annually by City Treasurer to ensure its consistency with the overall objectives of preservation of principal, liquidity and yield, and its relevance to current law and financial and economic trends. Any amendments to the policy must be forwarded to City Council for approval. - 8 -

City of Bellflower
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GLOSSARY

Accrued Interest: Interest earned but not yet received.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortization: An accounting practice of gradually decreasing (increasing) an asset’s book value by spreading its depreciation (accretion) over a period of time.

Amortized Cost: Cost of investments adjusted for amortized premiums and discounts.

Amortized cost is used to maintain comparability with market value.

Annual Comprehensive Financial Report (ACFR): The official annual report for the fiscal year ending June 30. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.

Arbitrage Regulation: Law to control the use of profit making by purchasing securities on one market for immediate resale on another in order to profit from a price difference.

Asked Price: The price that a broker or a dealer offers to sell securities.

Bankers Acceptances: Investment vehicle created to facilitate international commercial trade transactions. The bank accepts responsibility to repay a loan to the holder of the investment vehicle created in a commercial transaction. The credit worthiness of Bankers Acceptances is enhanced because they are secured by the issuing bank, the goods themselves, and the importer. Bankers Acceptances are sold on a discounted basis.

Basis Point: One basis point is one hundredth of one percent (0.0001).

Bid Price: The price a broker dealer offers to purchase securities.

Bond: A financial obligation for which an issuer promises to pay the bondholder a specified stream of future cash flows, including periodic interest payments and a principal repayment.

Bond Indenture: Written agreement specifying the terms and conditions for issuing bonds, stating the form of the bond being offered for sale, interest to be paid, the maturity date, call provisions and protective covenants, if any, collateral pledged, the repayment schedule, and other terms. It describes the legal obligations of a bond issuer and the powers of the bond trustee, who has the responsibility for ensuring that interest payments are made to registered bondholders.
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City of Bellflower
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Book value: The value at which a debt security is shown on the holder’s balance sheet.

Book value is the acquisition cost less amortization of premium or accretion of discount.

Broker: A broker brings buyers and sellers together for a commission. He does not take a position.

Certificate of Deposit: A deposit federally insured up to $250,000 at a set rate for a specified period of time.

Certificate of Deposit Account Registry Service or (CDARS): A service with a network of financial institutions that allows investors to obtain FDIC insurance coverage on deposits of up to $50 million through a single member institution.

Collateralization: To secure a debt in part or in full by pledge of collateral, asset pledged as security to ensure payment or performance of an obligation.

Commercial Paper: Short-term IOU, or unsecured money market obligation, issued by prime rated commercial firms and financial companies, with maturities from 2 days up to 270 days. A promissory note of the issuer used to finance current obligations, and is a negotiable instrument.

Coupon: a) The annual rate of interest that a bond’s issuer promises to pay the bond holder on the bond’s face value. b) A certificate attached to a bond evidencing interest due on the payment date.

Dealer: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

Debenture: A bond secured only by the general credit of the issuer.

Delivery Versus Payment: Securities industry term indicating payment is due when the buyer has securities on hand or a book entry receipt.

Derivatives: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities). No securities that have the possibility of a negative coupon may be purchased (Government Code Section 53601.6).

Discount: The difference between the market price and the face value of a security when it is selling below the face value.

Discount Securities: Non-interest bearing money market instruments that are issued at a discount and redeemed at maturity for full face value (e.g., U.S. Treasury Bills).

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Diversification: Dividing investment funds among a variety of securities offering independent returns.

Federal Credit Agencies: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals; e.g., S&L’s, small business firms, students, farmers, farm cooperatives, and exporters.

Federal Deposit Insurance Corporation (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit.

Federal Funds Rate: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations.

Federal Home Loan Banks (FHLB): Government sponsored wholesale banks that lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank.

Federal National Mortgage Association (FNMA): FNMA, like GNMA was charted under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder the owned corporation. The corporation’s purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest.

Federal Open Market Committee (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money.

Federal Reserve System: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.

Government National Mortgage Association (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions.

Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHA mortgages. The term "passthrough" is often used to describe Ginnie Maes.
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Interest-Only Strips: Mortgage-backed instrument where investor receives only the interest, no principal, from a pool of mortgages. Issues are highly interest rate sensitive.

Cash flows vary between interest periods. As well, the maturity date may occur earlier than that stated if all loans within the pool are pre-paid. High prepayments on underlying mortgages can return less to the holder that the dollar amount invested.

Investment Trust of California, CalTRUST: A number of California public agencies have created a Joint Powers Authority (JPA) – the Investment Trust of California, commonly known as CalTRUST – for the purpose of pooling local agency assets for investing. Membership in the CalTRUST program is open to any Public Agency in California. In 2015, there are over 100 CalTRUST participants. CalTRUST invests in fixed income securities eligible for local agency investment pursuant to California Government Code Sections 53601 and 53635. A Board of Trustees supervises and administers the investment programs of the JPA. CalTRUST maintains and administers four pooled accounts within the program: Money Market, Short-Term, Medium-Term, and Long-Term.

Laddered Portfolio: Bond investment portfolio with securities in each maturity range (e.g., monthly) over a specified period of time (e.g., five years).

Leverage: Investing with borrowed money with the expectation that the interest earned on the investment will exceed the interest paid on the borrowed money.

Liquidity: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.

Local Agency Investment Fund (LAIF): A voluntary investment program offering participating agencies the opportunity to participate in a major portfolio which daily invests hundreds of millions of dollars, using the investment expertise of the State Treasurer’s Office Investment staff at no additional cost to the taxpayer. Investment in LAIF, considered a short-term investment, is readily available for cash withdrawal on a daily basis.

Los Angeles County Treasury Pool: Similar to LAIF, the County of Los Angeles provides an investment pool service for other governmental agencies. Government Code Section 53684 allows local agencies to deposit excess funds in the Los Angeles County Treasury Pool for the purpose of investment by the County Treasurer and Tax Collector.

Market Risk: The risk that market interest rates will rise causing a loss of value in investments held. All investments made by the City involve a degree of market risk. See also “Unrealized Gains (Losses).”

Market Value: The price at which a security is trading and could presumably be purchased or sold.
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Master Repurchase Agreement: A written contract covering all future transactions between the parties to repurchase-reverse repurchase agreements that establish each party's rights in the transactions. A master agreement will often specify, among other things, the right of the buyer-lender to liquidate the underlying securities in the event of default by the seller-borrower.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Medium-Term Notes: Pursuant to the Government Code Section 53601(j), a Medium- Term Note is an obligation of a domestic corporation or depository institution having a rating of “A” or better by a nationally recognized rating service. These notes may not have maturity in excess of five years. Investments in medium term notes may not exceed 30% of the City's idle funds.

Modified Duration: A measure of the sensitivity that the value of a fixed-income security has to changes in market rates of interest. Modified duration is the best single measure of a portfolio’s or security’s exposure to market risk. Modified duration identifies the potential gain/loss in value before the gain/loss actually occurs. It is a prospective measurement, e.g., a modified duration of 1.5 indicates that when and if a 1% change in market interest rates occurs, a 1.5% change in the value of a security will result. Investments with modified durations of one to three are considered to be relatively conservative.

Money Market: The market in which short-term debt instruments (bills, commercial paper, bankers' acceptances, etc.) are issues and traded.

Mutual Funds: Mutual Funds qualifying for City investment must restrict their portfolios to issues approved by the same state investment statute that defines investment alternatives for cities. In addition these Mutual Funds must adhere to Federal statutes regarding the size of the Mutual Fund and its safety, must attain the highest ranking of two of the three largest rating services or must retain an investment advisor registered with the Securities and Exchange Commission with not less than 5 years experience investing assets of at least five hundred million dollars. Investments in Mutual Funds may not exceed 20% of the City's idle funds (Government Code Section 53601(k)).

Negotiable Certificates of Deposit: These types of Certificates of Deposit are issued by banks. They are not collateralized, that is, they are backed by the credit worthiness of the issuing institution rather than by specific pledged assets. They are issued payable to the bearer in denominations from $1 to $5 million with maturities of from 2 weeks to 5 years. They may be traded many times before maturity, with the price fluctuating with market conditions. The amount of the Certificate of Deposit may not exceed the issuing bank's shareholder's equity (Government Code Sections 53601(h) and 53638).

Offer: The price asked by a seller of securities (when you are buying securities, you ask for an offer). See Asked and Bid.

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City of Bellflower
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Open Market Operations: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve's most important and most flexible monetary policy tool.

Passbook Savings Account: These accounts pay a low rate of interest, compounded daily on their balances.

Portfolio: Collection of securities held by an investor.

Primary Dealer: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statement to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC) registered securities broker-dealers, banks, and a few unregulated firms.

Prudent Person Rule: An investment standard. In some states, the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state, the so-called legal list. In other states, the trustee may invest in a security if it is one, which would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital.

Pooled Investment: Grouping of resources for the common advantage of the participants.

Rate of Return: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return.

Repurchase Agreement: A repurchase agreement is the purchase of a security with the contractual obligation to sell such a security back at a future time at a fixed price.

The predetermined price differential between the selling and buy back price constitutes the interest earnings. The repurchase agreement may have a life of only one day. A minimum investment of $1 million is customarily required. The collateralization level for Repurchase Agreements will be 102% of the market value of the principal and accrued interest. Repurchase agreements may only be made with primary dealers (Government Code Section 53601(i)).

Safekeeping: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection.

Secondary Market: A market made for the purchase and sale of outstanding issues following the initial distribution.

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Securities and Exchange Commission (SEC): Agency created by Congress to protect investors in securities transactions by administering securities legislation.

Securities of A Local Agency within California: Bonds, notes, warrants, or other evidences of indebtedness of a local agency within California including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the local agency, or by a department, board, agency, or authority of the local agency.

Securities of Any State Including Its Agencies: Registered state warrants (California only) or treasury notes or bonds of any state, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the state or by a department, board, agency, or authority of the state.

Securities of the U.S. Government Including Its Agencies and Sponsored Enterprises: United States Treasury Notes, bonds, bills or certificates of indebtedness are backed by the full faith and credit of the United States. Although not general obligations of the United States, securities of U.S. agencies and sponsored enterprises have high safety ratings. The following are the examples: Federal Intermediate Credit Bank (FICB), Federal Land Bank (FLB), Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), Government National Mortgage Association (GNMA), Tennessee Valley Authorities (TVA), Student Loan Association Notes (SLMA) and Small Business Administration (SBA).

Structured Notes: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, SLMA, etc.) and Corporations that have imbedded options (e.g., call features, step-up coupons, floating rate coupons, derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.

Sweep Account: Short-term income fund into which all un-invested cash balances from the non-interest bearing checking account are automatically transferred on a daily basis.

Third-Party Custodian: Corporate agent, usually a commercial bank, who, acting as trustee, holds securities under a written agreement for a corporate client and buys and sells securities when instructed. Custody services include securities safekeeping, and collection of dividends and interest. The bank acts only as a transfer agent and makes no buy-sell recommendations.

Time Certificates of Deposit: Deposit account paying interest for a fixed term, with the understanding that funds cannot be withdrawn before maturity without giving advance notice.

Treasury Bills: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year.
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Treasury Bonds: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years.

Treasury Notes: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years.

Unrealized Gains (Losses): Increases (decreases) in the value of investments representing the difference between the amortized cost of the investments and their current market value. Increases (decreases) in value are caused primarily by changes in market interest rates subsequent to purchasing the investments. Increases (decreases) in value indicate two things: (1) The portfolio has a potential gain (loss) in principal if the securities are sold; and (2) The portfolio is over performing (under performing) the current market for similar investments. An increase in value indicates the portfolio is earning relatively more interest than current market conditions, and a decrease in value indicates that the portfolio is earning relatively less interest than current market conditions.

Yield: The rate of annual income return on an investment, expressed as a percentage:

a) Income Yield is obtained by dividing the current dollar income by the current market price for the security.

b) Net Yield or Yield to Maturity is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond.

Zero Accrual Periods: A period of time in which an investment accumulates no interest.

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,trVY OF BELLF� p
TO: Honorable Mayor and Members of the City Council
ATTENTION: Jeffrey L. Stewart, City Manager
FROM: Elizabeth Corpuz, Director of Planning and Building Services SUBJECT: Consideration and possible action to authorize the City Manager to execute Amendment No. 1 to Agreement File No. 386.6, in a form DATE:
approved by the City Attorney, with Duane Morita Planning & Environmental ("DMPE"), to extend the term for three years and provide compensation for general and on-call planning and environmental consulting services.
a
January 12, 2023

EXECUTIVE SUMMARY
Duane Morita Planning &Environmental ("DMPE") has been providing the City with general planning and environmental consulting services. Amendment No. 1 to Agreement File No. 386.6 will maintain the services provided by DMPE for an additional three years and increase the hourly rate and total compensation of a not -to -exceed amount of $248,000 for the three-year term.

RECOMMENDATION TO CITY COUNCIL
1) Authorize the City Manager to execute Amendment No. 1 to Agreement File No. 386.6, in a form approved by the City Attorney; or
2) Alternatively, discuss and take other action related to this item.

FISCAL IMPACT
The Agreement will not, exceed $248,000 (for athree-year period) for general planning and environmental consulting services, under Contract Services Account No. 010-42054- 4100.

DISCUSSION
Mr. Duane Morita, Sole Proprietor of DMPE, has over 42 years of planning and environmental experience and has worked with 20 cities and counties throughout his professional career. Since 2004, Mr. Morita has successfully provided critical professional planning and environmental services for the City of Bellflower.

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Staff Report — Amendment No.

DMPE Consulting Services
January 12, 2023

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DISCUSSION —Continued
1 to Agreement File No. 386.6
Those services include the preparation and review of environmental clearance and analysis documents for development projects, as well as City projects, as required by local, state, and federal laws. The current Agreement with DMPE expired on January 10, 2023. Amendment No. 1 would extend the term for an additional three years, increase the hourly rate from $125 to $160, and adjust the total compensation from $195,000 to $248,000 for the three-year term. DMPE's current hourly rate of $125 has not been adjusted since 2017. The proposed hourly rate of $160 is consistent and comparable with other planning and environmental consultant's rates.

Mr. Morita has provided the aforementioned services to the City and has been instrumental to several projects over the last three years, most notably the 6t" Cycle 2021-2029 Housing Element Update, The Edgeway project, the Butterfly Garden project, Kaiser Permanente's Oncology and Radiology Building project, and the award of the SB2 and LEAP grants. In addition, Mr. Morita has been and will continue to provide consultant services for the environmental review of the Bellflower Youth and Senior Center and the Stormwater Capture projects at Simms Park. Amendment No. 1 would allow DMPE to continue providing exceptional planning and environmental consulting services to the C ity.

ATTACHMENT
Amendment No. 1 to Agreement File No. 386.6 ...................................................3 —2—

AMENDMENT NO. 1 TO
AGREEMENT FILE NO. 386.6 BETWEEN

THE CITY OF BELLFLOWER AND

DUANE MORITA PLANNING & ENVIRONMENTAL

FOR PLANNING AND ENVIRONMENTAL CONSULTANT SERVICES
THIS AMENDMENT No. 1 ("Amendment") is made and entered into this I day of January 2023, by and between the CITY OF BELLFLOWER, a general law city and municipal corporation ("City"), and DUANE MORITA PLANNING & ENVIRONMENTAL, a California Sole Proprietorship ("CONSULTANT").

SECTION 1. Pursuant to Section 13 of Agreement File No. 386.6 ("Agreement"), Section 1 of the Agreement (Consideration) is amended as follows:

As additional consideration, CITY agrees to pay CONSULTANT a sum not to exceed $248,000 for CONSULTANT's general planning and environmental services. CITY may modify this amount as set forth below. Unless otherwise specified by written amendment to this Agreement, CITY will pay this sum as specified in the attached Exhibit "13 which is incorporated herein." SECTION 2. Pursuant to Section 13 of the Agreement, the rates, pursuant to the Agreement, are amended as set forth in "Exhibit B".

SECTION 3. Pursuant to Section 13 of the Agreement, Section 5 of the Agreement (Additional Work) is amended as follows:
"C. Payments over $248,000 for Additional Work for general planning and environmental services must be approved by CITY's City Council. All Additional Work will be subject to all other terms and provisions of this Agreement.'' SECTION 4. Pursuant to Section 13 of the Agreement, Section 9 of the Agreement (Term) is amended as follows:
"The term of this Agreement will be retroactively extended from January 10, 2023 to January 10, 2026. The Manager, at CITY's option, may extend the term twice for not more than a total of five years. Unless otherwise determined by written amendment between the parties, this Agreement will terminate at the end of the Term of as set forth in Section 17."
SECTION 5. This Amendment may be executed in any number or counterparts, each of which will be an original, but all of which together constitutes one instrument executed on the same date.

SECTION 6. Except as modified by this Amendment, all other terms and conditions of Agreement File No. 386.6 remain the same.

SECTION 7. Electronic Signatures. This Amendment may be executed with ic electronic signatures in accordance with Government Code §16.5. Such electron signatures will be treated in all respects as having the same effect as an original signature.

Page 1 of 2 ends

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City of Bellflower
Amendment No. 1 to AFN 386.6
Duane Morita Planning & Environmental

Page 2 of 2 ends

IN WITNESS WHEREOF the parties hereto have executed this contract the day and year first hereinabove written.

CITY OF BELLFLOWER,
a municipal corporation
Jeffrey L. Stewart, City Manager
ATTEST:

Mayra Ochiqui, City Clerk
APPROVED AS TO FORM:

Karl H. Berger, City Attorney
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DUANE MORITA PLANNING &

ENVIRONMENTAL
Duane Morita, Sole Proprietorship

AGREEMENT FILE NO. 386.6 — AMENDMENT NO. 1

EXHIBIT B
Consultant must complete the Scope of Work provided in Exhibit A of this Agreement for a not -to -exceed cost of $248,000 for the duration of the 3 -year term, at a billing rate of $160.00 per hour. In addition, the contract allows Duane Morita to provide on-call project specific services not to exceed the sum(s) as set forth in duly executed Task Order(s), at a billing rate of $160.00 per hour.
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p m

14-I

TO: Honorable Mayor and Members of the City Council

ATTENTION: Jeffrey L. Stewart, City Manager

FROM: Mayra Ochiqui, City Clerk

SUBJECT: Consideration and possible action to ratify the 2023 Mayor’s Appointments to the various City-associated organizations.

DATE: January 12, 2023

EXECUTIVE SUMMARY

It is customary for the Mayor to make appointments for City Council representation at various City-associated organizations in conjunction with the reorganization of the City Council. This action would ratify Mayor Santa Ines’ 2023 appointments to the various City-associated organizations.

RECOMMENDATION TO CITY COUNCIL

1) Ratify Mayor Santa Ines’ 2023 appointments to the various City-associated organizations; or

2) Alternatively, discuss and take other action related to this item.

FISCAL IMPACT

None

ATTACHMENTS

Mayor Santa Ines’ 2023 Appointments… .................................... ………………………… 2 2022 Appointments… .................................................................. ………………………… 5

-1-

2023 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 12, 2023)
Updated 01/03/2023

ORGANIZATION 2023

DELEGATE
2023

ALTERNATE

CALIFORNIA CONTRACT CITIES ASSOCIATION (CCCA)
www.contractcities.org
17315 Studebaker Road, Suite 210, Cerritos CA 90703
Executive Director: Marcel Rodarte; [email protected] Contacts: Mayra Bonilla, Operations Manager, (562) 622-5533; [email protected]
Frank Rodarte, Administrative Specialist, [email protected] Board of Directors Meetings: 3rd Wednesday of each month at various locations (6 p.m. Social Hour and 7 p.m. Dinner); No meeting in July Executive Board Meetings: 1st Wednesday of each month
Hamada Sanchez

CALIFORNIA JOINT POWERS INSURANCE AUTHORITY
(CJPIA)
www.cjpia.org
8081 Moody St., La Palma, CA 90623
Chief Executive Officer: Jonathan Shull; (562) 467-8717 Contact: Veronica Ruiz, Agency Clerk; (562) 467-8736; [email protected] Annual Meeting: to be held in July at the La Palma Campus (next meeting will be Wednesday, July 19, 2023 at 7:00 p.m. with dinner served at 5:30 p.m.)
$100 stipend to the Voting Member for attending Annual Meeting Executive Committee Meetings: 4th Wednesday of each month at 5:30 p.m. (Exceptions: April meeting is traditionally held in conjunction with the EC Workshop; November and December are the 3rd Wednesday at 5:30 p.m.)
Requirements: Political Reform Act Form 700 filing requirement for Executive Board Members
Santa Ines
(Executive
Member)
Hamada

CENTRAL BASIN WATER ASSOCIATION
http://www.watermaster.org/
725 N. Azusa Ave., Azusa, CA 91702
Contact: Anthony C. Zampiello, Executive Officer; (626) 815-1305; [email protected]
Association Members Luncheon Meetings: Typically held on the first Thursday of February, May, August and November at 11:30 a.m. at Albert Robles Center, 4320 San Gabriel River Parkway, Pico Rivera, CA 90660
Luncheon Meeting Dates: On hold due to COVID-19
Board of Directors Meetings: Typically held on the first Monday of each month at 12:00 p.m. Due to on-going COVID-19 precautions, meetings are currently being held via Zoom Meeting. When in-person meetings resume, they will be held at 12:00 p.m. in the Executive Board Room of The Centre-Sycamore Plaza, Lakewood, CA
Koops Dunton
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2023 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 12, 2023)
Updated 01/03/2023

ORGANIZATION 2023

DELEGATE
2023

ALTERNATE

CITY SELECTION COMMITTEE
500 West Temple St., Room B-50-b, Los Angeles, CA 90012 Committee Member/Delegate: Mayor
Contact: Executive Office of the Board of Supervisors, Commission Services Division, Cesar Hernandez; (213) 974-1431;
[email protected]; [email protected] Meetings: Scheduled on an “as-needed” basis (when posts are vacant and elections are necessary) and are held in conjunction with the League Meetings on the 1st Thursday of each month
Mayor Mayor Pro
Tem
COUNTY SANITATION DISTRICTS NOS. 2, 3, & 18
www.lacsd.org
1955 Workman Mill Road, Whittier, CA 90607-4998
Contact: Kimberly Christensen, Board Secretary; (562) 699-7411, ext. 1101; [email protected]
Delegate: Mayor (Health & Safety Code, Subsection 4730) Meetings: 2nd and 4th Wednesday of each month, 1:30 p.m. (Districts 2 & 3 meet on the 2nd Wednesday; Districts 2 & 18 meet on the 4th Wednesday) (Meetings held by teleconference through March 2023)
Stipend: $125 per meeting per district; mileage at 54.5 cents per mile Requirements: Political Reform Act Form 700 filing requirements; Delegate/Alternate must submit AB1234 “Ethics Training” Certificate

Mayor

(pursuant to Health
& Safety Code
§ 4730)

Mayor Pro
Tem

(pursuant to
Resolution No. 22-7)

GATEWAY CITIES COUNCIL OF GOVERNMENTS (COG)
www.gatewaycog.org
16401 Paramount Blvd., Paramount, CA 90723
Contact: Genny Cisneros; (562) 663-6850; [email protected] Board of Directors Meetings: 1st Wednesday of the month (5:30 p.m.

Dinner and 6 p.m. Meeting)
Stipend: $125 monthly
Requirements: Political Reform Act Form 700 filing requirements Notes: Pursuant to City Council action of 6/23/08, the appointed Delegate and Alternate will also serve as the City’s representative on the SR-91/I-605/I-405 Corridor Cities Committee; meet on as-needed basis
Dunton Koops

GREATER LOS ANGELES COUNTY VECTOR CONTROL

DISTRICT
www.GLAmosquito.org
12545 Florence Ave., Santa Fe Springs, CA 90670
Contact: Susanne Kluh, General Manager; (562) 944-9656; cell: (562- 572-0721; [email protected]
Meetings: 2nd Thursday of each month at 7 p.m.

Stipend: $100 monthly for transportation to attend meetings Requirements: No Alternate to be appointed; Political Reform Act Form 700 filing requirement, completion of ethics training every two years and required to complete a 2-hour sexual harassment prevention training
Notes: Delegate Sonny R. Santa Ines appointed for a four-year term, expiring January 2025, per City Council action of 10/12/2020 Santa Ines

(Pursuant to Health
& Safety Code
Section 2024; Term
Expires 01/02/2025
pursuant to Council
action on 10/12/20)
N/A
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2023 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 12, 2023)
Updated 01/03/2023

ORGANIZATION 2023

DELEGATE
2023

ALTERNATE
LEAGUE OF CALIFORNIA CITIES (Los Angeles County Division) www.cacities.org; www.calcities.org
P.O. Box 1444, Monrovia, CA 91017
Executive Director: Carolyn Coleman; [email protected] Contact: Jennifer Quan; (626) 786-5142; [email protected] The Los Angeles County Division holds general membership meetings on the first Thursday in the months of January, March and June. All General Membership meetings begin with a reception at 6 p.m., followed by the meeting (unless otherwise noted). Additional Division events include: The Countywide City Managers Meeting in May, the Annual Installation Ceremony and Dinner in August, a Division meeting at the Annual Conference, and the All Cities Holiday Reception in December. Additional trainings and briefings are held as needed.

Registration information can be found at http://www.lacities.org Notes: City reinstated 5/10/1999
Sanchez Hamada

SELACO WORKFORCE DEVELOPMENT BOARD

POLICY BOARD
http://www.selacowdb.com
10900 E. 183rd St. Suite 350, Cerritos, CA 90703
Mailing: 18629 Jeffrey Ave., Cerritos, CA 90703
Contact: Jack Joseph, Policy Board Administrator; (562) 230-1869; [email protected]
Policy Board Meetings: Bi-monthly on the 3rd Tuesday of the month at noon, location: SELACO WIB offices in Cerritos (subject to change) Stipend: $100 per month for meeting(s) attended
Requirements: Political Reform Act Form 700 filing requirement for Policy Board Member and Alternate
Santa Ines Hamada

SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS
(SCAG)
http://www.scag.ca.gov
900 Wilshire Blvd., Ste. 1700, Los Angeles, CA 90017
Contact: Maggie Aguilar, Clerk of the Board; (213) 630-1420; [email protected] and Cecilia Pulido, Deputy Clerk of the Board; (213) 630-1480; [email protected]
Regional Conference & General Assembly Meeting: May 3 – 5, 2023 Location: JW Marriott Desert Springs Resort & Spa, 74-885 County Club Drive, Palm Desert, CA 92260
Optional Regional Council Meetings: 1st Thursday of each month from 12:00 p.m. to 2 p.m. at SCAG Office
Requirements: Political Reform Act Form 700 filing requirement Notes: City rejoined 4/22/2002
Hamada Sanchez
BELLFLOWER SISTER CITY, INC.

David C. Perry: [email protected]; (714) 721-4477
16812 View Park Ave., Bellflower, CA 90706
Meetings: Scheduled on an “as-needed” basis and annually during the month of July
Notes: Per the bylaws, the Mayor appoints two City Council advisory members to sit on the Board of Directors
Sanchez Dunton

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2022 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 13, 2022)

ORGANIZATION 2022

DELEGATE
2022

ALTERNATE

CALIFORNIA CONTRACT CITIES ASSOCIATION (CCCA)
www.contractcities.org
17315 Studebaker Road, Suite 210, Cerritos CA 90703
Executive Director: Marcel Rodarte; [email protected] Contacts: Mayra Bonilla, Operations Manager, (562) 622-5533; [email protected]
Alejandra Hernandez, Administrative Analyst,
[email protected]
Board of Directors Meetings: 3rd Wednesday of each month at various locations (6 p.m. Social Hour and 7 p.m. Dinner); No meeting in July Executive Board Meetings: 1st Wednesday of each month
Hamada Sanchez

CALIFORNIA JOINT POWERS INSURANCE AUTHORITY
(CJPIA)
www.cjpia.org
8081 Moody St., La Palma, CA 90623
Chief Executive Officer: Jonathan Shull; (562) 467-8717 Contact: Veronica Ruiz, Agency Clerk; (562) 467-8736; [email protected] Annual Meeting: to be held in the Fall in conjunction with the Risk Management Educational Forum (September 2022)
$100 stipend to the Voting Member for attending Annual Meeting Executive Committee Meetings: 4th Wednesday of each month at 5:30 p.m. (Exceptions: April meeting is traditionally held in conjunction with the EC Workshop; November and December are the 3rd Wednesday at 5:30 p.m.)
Requirements: Political Reform Act Form 700 filing requirement for Executive Board Members
Santa Ines
(Executive
Member)
Hamada

2022 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 13, 2022)

ORGANIZATION 2022

DELEGATE
2022

ALTERNATE

CITY SELECTION COMMITTEE
500 West Temple St., Room B-50, Los Angeles, CA 90012
Committee Member/Delegate: Mayor
Contact: Executive Office of the Board of Supervisors, Commission Services Division, Cesar Hernandez; (213) 974-1431;
[email protected]; [email protected] Meetings: Scheduled on an “as-needed” basis (when posts are vacant and elections are necessary) and are held in conjunction with the League Meetings on the 1st Thursday of each month
Mayor Mayor Pro
Tem
COUNTY SANITATION DISTRICTS NOS. 2, 3, & 18
www.lacsd.org
1955 Workman Mill Road, Whittier, CA 90607-4998
Contact: Kimberly Christensen, Board Secretary; (562) 699-7411, ext. 1101; [email protected]
Delegate: Mayor (Health & Safety Code, Subsection 4730) Meetings: 2nd and 4th Wednesday of each month, 1:30 p.m. (Districts 2 & 3 meet on the 2nd Wednesday; Districts 2 & 18 meet on the 4th Wednesday)
Stipend: $125 per meeting per district; mileage at 54.5 cents per mile Requirements: Political Reform Act Form 700 filing requirements; Delegate/Alternate must submit AB1234 “Ethics Training” Certificate

Mayor

(pursuant to Health
& Safety Code
§ 4730)

Santa Ines
(District No. 2, 3 & 18)

(pursuant to
Resolution No. 19-92
and City Council
action on 1/13/22)

GREATER LOS ANGELES COUNTY VECTOR CONTROL

DISTRICT
www.glacvcd.org
12545 Florence Ave., Santa Fe Springs, CA 90670
Contact: Susanne Kluh, Interim General Manager/Scientific-Technical Services Director; (562) 944-9656; cell: (562-572-0721; [email protected]
Meetings: 2nd Thursday of each month at 7 p.m.

(Pursuant to Health
& Safety Code
Section 2024; Term
Expires 01/02/2025
pursuant to Council
action on 10/12/20)
N/A
-6-

2022 MAYOR’S APPOINTMENTS
(Pursuant to City Council action of January 13, 2022)

ORGANIZATION 2022

DELEGATE
2022

ALTERNATE
LEAGUE OF CALIFORNIA CITIES (Los Angeles County Division) www.cacities.org
P.O. Box 1444, Monrovia, CA 91017
Executive Director: Carolyn Coleman; [email protected] Contact: Jennifer Quan; (626) 786-5142; [email protected] The Los Angeles County Division holds general membership meetings on the first Thursday in the months of January, March and June. All General Membership meetings begin with a reception at 6 p.m., followed by the meeting (unless otherwise noted). Additional Division events include: The Countywide City Managers Meeting in May, the Annual Installation Ceremony and Dinner in August, a Division meeting at the Annual Conference, and the All Cities Holiday Reception in December. Additional trainings and briefings are held as needed.

Registration information can be found at http://www.lacities.org Notes: City reinstated 5/10/1999
Sanchez Hamada

SELACO WORKFORCE DEVELOPMENT BOARD

SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS
(SCAG)
http://www.scag.ca.gov
900 Wilshire Blvd., Ste. 1700, Los Angeles, CA 90017
Contact: Maggie Aguilar, Clerk of the Board; (213) 630-1420; [email protected]
Contact: Cecilia Pulido, Deputy Clerk of the Board; (213) 630-1480; [email protected]
Regional Conference & General Assembly Meeting: May 4 – 6, 2022 Location: TBD
Optional Regional Council Meetings: 1st Thursday of each month from 12:30 p.m. to 2 p.m. at SCAG Office
Requirements: Political Reform Act Form 700 filing requirement Notes: City rejoined 4/22/2002
Hamada Sanchez

Updated
1/14/2022

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ABANDONMENT OF LEGAL NONCONFORMING USE
9103-9115 ARTESIA BLVD.

January 12, 2023 City Council Meeting

1 9103-9115 Artesia Blvd. – “Property”

2 Automobile Sales
Automobile Repair Center
Automobile Repair Shop
Abandoned in or around 2016

Never established on the property

Nonconformity Abatement Issued – No longer allowed

Not allowed unless CUP is obtained
Continuous use on the property

Allowed*

3 Background
July 21, 2022 - Notice of Nonconformity Abatement issued August 23, 2022 – Owner, Eitan Sharaf, filed an appeal
November 7, 2022 – Planning Commission appeal hearing - Planning Commission adopted Resolution 22-16, which denied the appeal of Nonconformity Abatement November 16, 2022 - Owner timely filed appeal to City Council for today’s hearing Appeal De Novo – fresh review of appeal of Notice of
Nonconformity

4 Contentions at Issue
Whether auto sales (new or used) is permitted as a legal nonconforming use or has been lost by abandonment.

Whether an auto repair center is permitted as a legal nonconforming use or has been lost by abandonment.

Uses for a uto storage and trucking yard/storage, as stated in Nonconformity Letter, do not have any known history and are not considered to have ever had legal non-conforming status.

5 Law on Legal Nonconforming Use
Legal non-conforming uses “are land uses, structures, and parcels within the City that were lawfully established, constructed, or subdivided before the adoption or amendment of this Code, but which would be prohibited, regulated, or restricted differently under the current terms of this Code or its amendments.” (BMC § 17.92.010.)
A legal non-conforming use need not comply with zoning restrictions on uses. “A nonconforming use that is voluntarily discontinued or ceases operations for a continuous period of one hundred eighty (180) days or more cannot be re-established on the site. “ Known as “Abandonment.” (BMC § 17.92.110.)

6 Nonconforming Use Must Be Otherwise Lawful
It is generally held that a zoning ordinance may not operate to immediately suppress or remove from a particular district an otherwise lawful business or use already established therein.

City of Los Angeles v. Gage (1954) 127 Cal. App. 2d 442, 454.

Scrutton v. Sacramento Cnty. (1969)275 Cal. App. 2d 412, 420.

Accordingly, a use that is not otherwise operating lawfully does not maintain its legal nonconforming status.

7 Nonconforming Use Must Be Lawful
Must have all required California State Licensing
and City of Bellflower Business Licensing
Auto Repair – California Department of Consumer Affairs – Bureau of Auto Repair Issued to business/person
Auto Dealer – California Department of Motor Vehicles – Occupational Licensing Issued to business/person and location
Business License – City of Bellflower

5.16.020 Business License Required.

Prior to engaging in the operation of the business described in Section 5.16.010, all such businesses shall have a valid business license issued by the City. Such businesses now lawfully licensed shall be required, as a condition of renewal of said license, to obtain a permit as hereinafter required.

8 Businesses at Property

9 Bureau of Automotive Repair - Licensing

10 Get Around Auto Sale / Cadillac Head Gasket Fix
Cornelius Chambers - Owner
Testified at Nov. 7, 2022 Planning Commission meeting

“I would say it was from about definitely 2016, well to me personally I felt like maybe 2015 to like maybe 2018-19. There were really no car sales for me.”

“About that time (2016) and for the next 3 or 4 years there were no sales.

No auto sales whatsoever.”

11 12

13 Recommendation

1. Open the public hearing; take testimonial and documentary evidence; and after consider the evidence, adopt Resolution No. 22-02 denying the appeal; or

2. Alternatively, discuss and take other action related to this item.

14 ABANDONMENT OF LEGAL NONCONFORMING USE
9103-9115 ARTESIA BLVD.

January 12, 2023 City Council Meeting

Bellflower City CouncilJanuary 12, 2023

Bellflower City Council
January 12, 2023