RESOLUTION NO. 26-94
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN CLEMENTE, CALIFORNIA, AWARDING A PROFESSIONAL SERVICES AGREEMENT FOR INVESTMENT ADVISORY SERVICES TO CHANDLER ASSET MANAGEMENT, INC. AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT WHEREAS, the City of San Clemente (“City”) maintains investment portfolios in accordance with California Government Code Section 53600 et seq. and the City’s adopted Investment Policy; and WHEREAS, the City, in coordination with the City Treasurer, Deputy City Treasurer and Investment Advisory Committee (“IAC”), utilizes external investment advisory services to support the management, oversight, and compliance of the City’s investment portfolio; and WHEREAS, in January 2026, the City issued a competitive Request for Proposals (RFP), posted on PlanetBids, seeking qualified firms to provide investment advisory services for the City’s investment portfolio; and WHEREAS, the City received four (4) proposals from the following firms: Academy Asset Management, LLC; Chandler Asset Management, Inc.; Garcia Hamilton & Associates, L.P.; and Meeder Investment Management, Inc.; and WHEREAS, the IAC reviewed all submitted proposals and selected Chandler Asset Management, Inc. and Meeder Investment Management, Inc. to participate in in-person interviews based on qualifications, municipal investment experience, and proposed service approach; and WHEREAS, following the interview and evaluation process, Chandler Asset Management, Inc. was determined to be the most qualified firm based on its extensive experience with California public agencies, demonstrated understanding of municipal investment requirements, strong service and compliance capabilities, and had a competitive fee proposal; and WHEREAS, retaining Chandler Asset Management, Inc. is in the best interest of the City and will support the City’s objectives of safety, liquidity, and yield while ensuring compliance with applicable laws and best practices for public fund management.
NOW, THEREFORE, the City Council of the City of San Clemente does hereby find, determine and resolve as follows:
SECTION 1. The City Council hereby finds that the recitals above are true and correct and are incorporated fully herein by reference.
SECTION 2. The City Council hereby awards a Professional Services Agreement to Chandler Asset Management, Inc. for investment advisory services.
SECTION 3. The City Council hereby authorizes and directs the City Manager, or his designee, to execute a Professional Services Agreement (Agreement) with a term of five (5) years, in a form substantially similar to that presented to the City Council on May 19, 2026.
SECTION 4. The City Council further authorizes the City Manager, at his/her discretion, to execute one (1) optional two-year extension consistent with the terms of the Agreement.
SECTION 5. The City Clerk shall certify to the passage and adoption of this resolution and enter it into the book of original resolutions.
PASSED AND ADOPTED this _____ day of ____________________, _______.
ATTEST:
___________________________ __________________________
City Clerk of the City of Rick Loeffler, Mayor of the City San Clemente, California of San Clemente, California
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) §
CITY OF SAN CLEMENTE )
I, LAURA CAMPAGNOLO, City Clerk of the City of San Clemente, California, do hereby certify that Resolution No. 26-94 was adopted at a regular meeting of the City Council of the City of San Clemente held on the _______ day of _______________________, _________, by the following vote:
AYES:
NOES:
ABSENT:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Clemente, California, this _____ day of _________________, ________. __________________________
CITY CLERK of the City of
San Clemente, California
Approved as to form:
___________________________
Elizabeth A. Mitchell, City Attorney
Resolution No. 26-94 Page 2
Attachment 1