RESOLUTION NO. (N.C.S.)
AUTHORIZATION TO EXECUTE AGREEMENT WITH
CHANDLER ASSET MANAGEMENT, INC. FOR INVESTMENT MANAGEMENT AND ADVISORY SERVICES WHEREAS, professional investment management and advisory services will be beneficial to the City of Salinas by ensuring its investments are managed efficiently and effectively and by enhancing the potential for higher returns while adhering to the objectives of safety and liquidity; and WHEREAS, on November 10, 2021, the City issued a request for proposals for investment management and advisory services; and WHEREAS, three (3) responses to the request for proposals were received and reviewed, taking into consideration, among other factors, demonstrated knowledge and experience in the work/services required, understanding of the City's investment policy requirements and strategies for carrying out the objectives of the policy, quality and number of professional personnel assigned to the City, and cost of services; and WHEREAS, after reviewing and considering each proposal and interviewing representatives of the firms, it was determined that Chandler Asset Management, Inc., would best meet the investment management and advisory services needs of the City; and WHEREAS, Chandler Asset Management, Inc., (“Chandler”) is an independent investment advisor registered with the United States Securities and Exchange Commission and is organized as a California corporation providing investment management and advisory services to public agencies throughout California; and WHEREAS, Chandler is qualified by experience and ability to perform the services desired by the City, and Chandler is willing to perform such services for the period February 2, 2022 through December 31, 2024, with two additional one-year options.
NOW, THEREFORE, BE IT RESOLVED that the Salinas City Council:
Authorizes and directs the Mayor to enter into a Professional Services Agreement (Agreement) with Chandler Asset Management, Inc. for the period February 2, 2022 through December 31, 2024, with two additional one-year options.
PASSED AND APPROVED this 1st day of February 2022, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
APPROVED:
________________________
Kimbley Craig, Mayor
ATTEST:
_________________________
Patricia M. Barajas, City Clerk
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