CITY OF SAN CLEMENTE
Investment Advisory Committee Minutes
Regular Meeting – January 23, 2023
A Regular Meeting of the City of San Clemente Investment Advisory Committee was called to order by City Treasurer, Charlie Smith, on January 23, 2023, at 5:34 p.m. and the Pledge of Allegiance was recited. This meeting was conducted in Community Conference Room at City Hall, 910 Calle Negocio, San Clemente.
(1) ROLL CALL
PRESENT: Investment Advisory Committee Members:
Charlie Smith, City Treasurer
Steve Knoblock, City Council Member
Art Carter, Citizen Representative
Ryan Bourque, Citizen Representative
Jeff Willardson, Industry Specialist
Staff:
Sandee Chiswick, Senior Accountant
ABSENT: None
CHANDLER
REPRESENTATIVE: Jayson Schmitt
PUBLIC: None
Jeff Willardson introduced himself and discussed his experience. (2) APPROVAL OF MINUTES
Motion by Art Carter, seconded by Steve Knoblock to approve the October 24, 2022 minutes. Approved 5-0.
(3) APPROVE 2
nd QUARTER FY 2022-23 INVESTMENT REPORT
Jayson Schmitt, Chandler Asset Management representative, reviewed the second quarter investment report and responded to questions raised by committee members.
Motion by Art Carter, seconded by Steve Knoblock, to approve the 2nd Quarter FY 2022-23 Investment Report. Approved 5-0.
Investment Advisory Committee Minutes January 23, 2023 Page 2 Steve Knoblock discussed the desalination facility and City’s potential investment.
Mr. Smith explained that investment in securities beyond five years could be purchased with Council approval. Jayson Schmitt explained that they were typically serial bonds, similar to municipal bonds.
(4) BROKER DEALER RELATIONSHIPS
This item was tabled to the next meeting.
(5) COMPOSITION OF INVESTMENT ADVISORY COMMITTEE
City Treasurer discussed the composition of the investment advisory committee, and the role of the committee.
(6) PUBLIC INPUT
None
(7) ADJOURNMENT
At 6:52 p.m., motion by Charlie Smith, seconded by Art Carter, carried 5-0, to adjourn to the next meeting to be held on April 24, 2023, at 5:30 p.m. at City Hall located at 910 Calle Negocio, San Clemente, California. _________________________________
Charlie Smith
Chair-Investment Advisory Committee
Future Meeting Dates:
April 24, 2023
July 24, 2023