HomeMy WebLinkAboutReso 33-26 Adopting Investment Policy - signedRESOLUTION NO. 33-26
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MORRO BAY, CALIFORNIA
RESCINDING RESOLUTION NO. 42-25, DESIGNATING AND AUTHORIZING
INVESTMENT TRANSACTION OFFICERS AND ESTABLISHING
INTERNAL CONTROL POLICY FOR INVESTMENT TRANSACTIONS
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, the City of Morro Bay has cash in its possession that exceeds the amount needed
for day-to-day transactions; and
WHEREAS, the City of Morro Bay has an obligation to its citizens to effectively and safely manage
that money while optimizing its earning potential; and
WHEREAS, it is necessary to designate, via Resolution, the transaction officers who have the
authority to invest the City’s funds; and
WHEREAS, on June 24, 2025, the Morro Bay City Council adopted Resolution No. 42-25, which
established the transaction officers with the authority to invest the City’s funds; and
WHEREAS, with this Resolution, the Morro Bay City Council is rescinding Resolution No. 42-25 in
its entirety; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California:
1. Resolution No. 42-25, relating to designating and authorizing investment transaction officers is
rescinded in its entirety and replaced with this Resolution.
2. The “Investment Policy” as set forth in Exhibit A, attached hereto and incorporated herein, is
hereby approved and hereby established as City policy.
3. The individuals holding the City offices/positions listed below are designated as transaction
officers who are authorized to open and close investment accounts within the scope of the
City’s Investment Policy:
City Manager
Finance Director/Treasurer
Accounting/Finance Manager
4. For purposes of internal controls, the City will require written approval of one of the above
designated authorized representatives, prior to another one of the designated authorized
representatives initiating a deposit, withdrawing funds or making any other change in the
account.
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5. Provision for socially responsible investing have been incorporated as previously adopted by
the City Council.
PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular meeting
thereof held on the 9th day of June 2026, by the following vote:
AYES: Wixom, Eckles, Edwards, Landrum, Luffee
NOES: None
ABSENT: None
ABSTAIN: None
RECUSED: None
______________________________________
CARLA WIXOM, Mayor
ATTEST:
____________________________
DANA SWANSON, City Clerk
Carla Wixom (Jun 10, 2026 18:06:57 PDT)
Carla Wixom
EXHIBIT “A”
CITY OF MORRO BAY
INVESTMENT POLICY
PURPOSE
This investment policy establishes the practices and procedures to be used in managing the City
of Morro Bay's (City) portfolio in accordance with the requirements of the State of California
Government Code and the guidelines provided by the California Debt and Investment Advisory
Commission (CDIAC) and the Government Finance Officers Association (GFOA).
SCOPE OF THE POLICY
This policy governs the investment of money that is not required to meet the immediate
needs of the City. The policy applies to all City funds available for investment, including the General
Fund, Special Revenue Funds, Capital Project Funds, Debt Service Funds, and Enterprise Funds,
unless otherwise restricted by law, grant requirements, bond indentures, trust agreements, or other
governing documents.
LEGAL AUTHORITY
Government Code Sections: California Government Code Sections 53600 to 53609, 53635, and
16429.1 govern the investment of local agency funds.
Legislative Changes: Any applicable legislative actions will be acted on as of their effective
dates and will be incorporated into the policy annually, specifying the California Government
Code sections that have been added, deleted, or amended.
OBJECTIVES
The City Treasurer will consider the following factors in priority order when assessing
investment opportunities:
Safety: The primary objective is the preservation of principal. Capital losses will be avoided,
whether from default or erosion of market value, meaning that the City will not sell or trade an
investment because of market fluctuation. The two types of risk to be minimized are:
1. Credit risk - the risk that an issuer or other counterparty to an investment will not
fulfill its obligations; and
2. Interest rate or market risk - the risk that changes in interest rates will adversely
affect the fair value of an investment.
Liquidity: The second objective is the liquidity of the portfolio. The portfolio should remain
sufficiently flexible to enable the City to meet the operating requirements that are reasonably
anticipated. To ensure liquidity, the investment policy must recognize that calculating cash flows
are the basis of any good investment strategy. Meeting the daily cash flow demand goes hand-in-
hand with meeting the City's liquidity needs.
Yield: The third objective, behind safety and liquidity, is attaining a market rate of return
throughout the budgetary and economic cycles.
While managing the portfolio, the Treasurer, and designated staff, will strive to maintain
public trust by avoiding any transactions that might impair public confidence in the City. When
selecting investment instruments, the Treasurer, and designated staff, will remain
cognizant of any social and policy considerations that have been established and defined in
this policy.
GENERAL STRATEGY
The Treasurer, and designated staff, may follow a passive or active investment strategy. Passive
investment policies adhere to the investment goal of holding investments to maturity. Active
investment strategy is the buying and selling of investments to achieve a certain benchmark
objective. Great care, coupled with the advice of a fiscal agent, should be followed with
an active investment policy. The City follows the passive investment strategy of holding investments
to maturity.
STANDARD OF CARE
Prudent Investor Standard: The prudence standard for trust investing traces back to Harvard
College v. Amory, 26 Mass. (9 Pick.) 446 (1830). Judge Samuel Putnam stated that trustees
should ''observe how men of prudence, discretion and intelligence manage their own affairs, not
in regard to speculation, but in regard to the permanent disposition of their funds,
considering the probable income, as well as the probable safety, of the capital to be invested."
This standard will be followed by the Treasurer, and designated staff.
Ethics and Conflict of Interest: The Treasurer, and designated staff, shall refrain from
personal business activities that could conflict with the proper execution of the investment
program or which could impair their ability to make impartial decisions.
Delegation of Authority: The following positions and corresponding City personnel are
delegated the power to invest the funds of the City:
City Manager
Finance Director/Treasurer
Accounting/Finance Manager
These designations may change with the annual affirmation of this policy. Each delegate must
adhere to the requirements set forth in the investment policy.
SAFEKEEPING AND CUSTODY
Third-party Safekeeping: Ownership of the City's investment securities will be protected
through third-party custodial safekeeping. The custodian will provide the City with a safekeeping
receipt or monthly, itemized statement. Exceptions to this requirement are made for
certificates of deposit, money market funds and investment pools.
Internal Controls: These are designed to ensure that the assets of the City are protected from
theft, loss, or misuse. Such internal controls that are in place include:
1. Control of collusion;
2. Separation of duties;
3. Safekeeping of securities; and
4. Written confirmation of telephone transactions and wire transfers.
The City will separate the person who authorizes or performs the transaction from the person or
people who ultimately record or otherwise account for the transaction to achieve separation of
duties. Moreover, the City will require written approval of one of the above designated authorized
representatives who is not also recording the transaction, prior to another one of the designated
authorized representatives initiating a depo sit, withdrawing funds, or making any other change in
the account.
Delivery vs. Payment: All investment transactions should be conducted using standard delivery
vs. payment procedures. In delivery vs. payment, the purchaser pays for the securities when
they are delivered either to the purchaser or his/her custodian and ensures that securities are
deposited in an eligible financial institution prior to the release of funds.
AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
The City will only conduct business with approved banks, savings and loans, credit unions, and
securities brokers/dealers. A list of financial dealers and institu tions is to be maintained.
Broker/dealers and institutions must meet all requirements established by federal and state
law .
SUITABLE AND AUTHORIZED INVESTMENTS
Authorized Investment Types: The City, by virtue of California Government Code Sections
53600 - 09, has the ability to invest in numerous types of instruments. The City has looked at
its goals, objectives, and standards of care in establishing a list of authorized investment types
that also meet statutory requirements. Those types of investment instruments that meet the
criteria for the City are:
1. Securities of the U. S. Government, or its agencies;
2. California's Local Agency Investment Fund (LAIF) pool;
3. FDIC Insured Certificates of Deposit up to $250,000;
•
4. Bankers' Acceptances (not exceeding 40% of the City's portfolio/max maturity 180
days);
5. Money Market funds;
6. Collateralized deposits;
7. Passbook savings accounts; and
8. Repurchase agreements and reverse repurchase agreements (no more than 20%
of the City's portfolio and maximum maturity of 92 days).
Prohibited Investment Types: In addition to a listing of authorized investments, California
Government Code Section 53601.6 prohibits local agencies from investing in the
following instruments :
1. Inverse floaters;
2. Range notes or mortgage-derived, interest-only strips;
3. Any security that could result in zero interest accrual if held to maturity;
4. Stock; and
5. Futures or options.
There may be additional investment instruments in which the City does not want
the Treasurer to invest, and those will be defined in future investment policies.
INVESTMENT PARAMETERS
Diversification of Investments: The City may choose to impose more stringent restr ictions or
further restrictions on other investment instruments, depending on its investment goals and
risk tolerances, than those proposed in the California Government Code Sections 53600 - 09.
The City has indicated those authorized investments as follows:
1. Money market funds;
2. Collateralized deposits;
3. Securities of any one issuer, not to exceed 5% of the City's portfolio, except those
obligations of the U.S. government, U.S. governmental agencies, and U.S. government-
sponsored enterprises;
4. Mutual funds; and
5. FDIC insured certificates of deposits.
Maximum Maturity: California Government Code Section 53601 lists the maximum maturity
for any instrument as five (5) years. The exception to this time frame is made for
investments with LAIF or collateralized dep osits.
Minimum Credit Requirements: The City has chosen to follow the California Government
Code Section 53601 that sets the mi nimum credit rating required for certain investment
instruments as follows:
1. Short-term debt shall be rated at least ''A -1'' by Standard & Poor's Corporation, ''P-1'' by
Moody's Investors Service, Inc., or ''F-1'' by Fitch Ratings. If the issuer of short-term debt
has also issued long-term debt, this long-term debt rating shall be rated at least ''A,"
without regard to +/- or 1, 2, 3 modifiers, by Standard & Poor's Corporation, Moody's
Investors Service, Inc., or Fitch Ratings.
2. Long-term debt shall be rated at least ''A," without regard to +/- or 1, 2, 3 modifiers, by
Standard & Poor's Corporation, Moody's Investors Service, Inc., or Fitch Ratings.
Maximum Weighted Average Maturity of a Portfolio: As part of the quarterly portfolio
performance report that is provided to the City Council, a weighted average maturity (WAM)
of the portfolio is calculated. While there are no requirements under state law for a
maximum WAM of a portfolio, CDIAC's Local Agency Investment Guidelines suggest that
local agencies include and monitor WAM to arrive at an acceptable range for future
implementation of a maximum benchmark.
Social Responsibility: Priority will be given to investments that are in compliance with socially
responsible goals, to the extent that such investments achieve equivalent safety, liquidity and
yield compared to other investments that do not meet the City's socially responsible goals.
When not impacting yield, safety and liquidity, priority will be given to investments that
support community well -being through safe, environmentally sound, practices and fair labor
practices. Investments are encouraged in entities that support combating climate change
and equality of rights regardless of race, sex, religion, age, national or ethnic origin, sexual
orientation, or disability.
PORTFOLIO MANAGEMENT ACTIVITY
Active or Passive Portfolio Management: In active portfolio management, treasurers buy and
sell securities based on how to maximize portfolio values over a given timeframe. In passive
portfolio management, the goal is to match a market rate of return (usually a benchmark).
Weighing the pros and cons of each strategy in light of staff resources and investment, the
City has chosen to follow a passive portfolio management strategy.
Competitive Bidding: Investments are purchased in the most cost-effective and efficient
manner utilizing approved brokers/dealers on all investment transactions.
Reviewing and Monitoring of the Portfolio: The portfolio requires monthly staff review to
ensure the investments are properly tracked and reported, and quarterly reporting to the
City Council.
Portfolio Adjustments: If the portfolio demonstrates non-compliance with the investment policy, the
Treasurer, and designated staff, shall evaluate the investment and determine an appropriate
course of action consistent with the City's objectives of safety, liquidity, and yield. The Treasurer may
hold the investment to maturity, sell the investment, or take other corrective action as deemed
prudent. Significant instances of non -compliance and the recommended course of action shall be
reported to the City Council in the next quarterly investment report.
Performance Standards: The objective of investing is to obtain a rate of return throughout
budgetary and economic cycles , commensurate with investment risk constraints
and cash flow needs.
REPORTING
Reporting Methods: On a quarterly basis, the investment portfolio will be presented at a City
Council meeting, along with the quarterly financial reports, and will list the following
components:
1. Types of investment;
2. Issuer names;
3. Dates of maturity;
4. Par amounts;
5. Dollar amounts;
6. Market values;
7. Descriptions of programs under the management of contracted parties;
8. A statement of compliance with the investment policy; and
9. A statement of the ability to meet cash flow needs for six months.
Governmental Accountings Standards Board (GASB) Statement No. 31 - Marking to Market:
The City's portfolio is to be marked-to-market for the quarterly investment report provided to
the City Council and at minimum, annually for the financial statements. Market values are to
be obtained from a reputable and independent source and disclosed to the City Council in the
quarterly written report. The independent source of pricing should not be one of the parties to
the transaction being valued. Such an independent source could include a broker or other
financial institution that was not counterparty to the transaction, the custodial bank if the bank
was not a counterparty to the transaction, publicly available publications s uch as The Wall
Street Journal, or other pricing services for which a separate fee would be paid.
This is consistent with GASB Statement No. 31, which requires that governmental entities report
investments at fair value, and with the California Governmental Code, which also requires
market values of investments be reported.
Calculation of Yield and Costs: All yield rates on investments will be presented at book value.
Investment Policy Adoption, Review, and Amendment: The investment policy will be reviewed,
amended, and presented to the City Council annually with budget adoption. The review should
ensure that the policy is consistent with the overall objectives of preservation of principal, liquidity,
and return, and is in conformance with the law, financial and economic trends, and the cash flow
needs of the local agency.
Definitions or Glossary of Terms: This investment policy includes a definition section
(Appendix A) in order to establish a common vocabulary between the Treasurer, and
designated staff, the City Council, and the public.
APPENDIX A - INVESTMENT POLICY TERMINOLOGY
The following are examples of terminology commonly found in California City investment
policies. The inclusion of these sections provides clarity to investment policies and
better enables readers to understand important concepts.
Authorized Financial Dealers and Institutions: A list of financial institutions authorized to
provide investment services. May also include a list of approved security broker/dealers with
which the City can do business. These institutions and broker/dealers are usually selected
by their ability to add value to the investment process. Some criteria to consider when choosing
an approved broker/dealer include creditworthiness, expertise, and the products in which the
financial dealer or institution is familiar. GFOA suggests that all entities qualifying for investment
transactions provide audited financial statements; proof of industry group (National Association
of Securities Dealers [NASO]) certification; proof of state registration; completed broker/dealer
questionnaire; and certification of having read, understood, and agreeing to comply with the
investment policy.
Bankers' Acceptance: A draft, bill or exchange accepted by a bank or trust company. The
accepting institution guarantees payment of the bill, as well as the issuer.
Certificate of Deposit: A time deposit with a specific maturity evidenced by a certificate.
Collateralization: Process by which a borrower pledges securities, property, or other
deposits for the purpose of securing the repayment of a loan and/or security. California
Government Code Section 53601 requires that all repurchase agreements be secured by
eligible securities with a market value of 102 percent or greater of the funds borrowed.
California Government Code requires public deposits to be collateralized at 110%.
Delegation of Authority: The granting of authority to manage the investment program to
designated officials. Such authority is usually derived from code sections , ordinance, charters,
or statutes. Government Code Section 53607, for example, allows the City Council to delegate,
for a one-year period, its authority to invest or reinvest funds or to sell or exchange securities
held by the local government.
Delivery vs. Payment: A type of securities transaction in which the purchaser pays for the
securities when they are delivered either to the purchaser or his/her custodian. It ensures that
securities are deposited in an eligible financial institution prior to the re lease of funds. A third-
party custodian as evidenced by safekeeping receipts should hold securities.
Diversification: A process of investing assets among a range of security types by sector,
maturity, credit rating, and call type or structure. This reduces exposure to risk by combining a
variety of investments, which are unlikely to all move in the same direction. GFOA
suggests diversifying a city's investment portfolio by limiting investments to avoid exposure to a
specific sector, limiting investment in securities with higher credit risks, investing in
instruments with varying maturities, and continuously investing a portion of the portfolio in
readily available funds such as a local government investment pool, money market funds, or
overnight repurchase agreements to ensure that appropriate liquidity is maintained in order to
meet ongoing obligations.
Ethics and Conflicts of Interest: The California Political Reform Act of 1974 requires certain
designated public officials at all levels of government to publicly disclose their private economic
interests and requires all public officials to disqualify themselves from participating in decisions
in which they have a financial interest. As part of this requirement, local agencies are required
to adopt and promulgate a Conflict-of-I n t e r e s t Code, with certain required sections.
To further promulgate this Code, investment policies sometimes include language requiring the
ethical conduct of investment officers and statements regarding refraining from personal
business activity that could conflict with the proper execution and management of the investment
program or that could impair their ability to make impartial decisions. To avoid conflicts, GFOA
recommends that investment officers disclose material interests in financial institutions with
which they do business, disclose personal financial interests that could be related to the
performance of the investment portfolio, and refrain from undertaking personal investment
transactions with the same individual with who m business is conducted on behalf of the local
government.
Exemption: Language that grandfathers prohibited investments into the investment policy
because they may have been held in the portfolio prior to the prohibition. When these
investments mature or are liquidated, the money should be reinvested as provided by the policy
and the exemption language should be removed from the policy.
FDIC: Federal Deposit Insurance Corporation is a federal agency that insures bank deposits
up to $250,000 per deposit.
General Objectives: The section of an investment policy that illustrates the three main
objectives (safety, liquidity, and yield), in order of priority, of a good investment policy. In
addition to these commonly included objectives, there are a myriad of other objectives for
which an investment policy can strive. Safety is the preservation of principal. Liquidity is how
easily an investment may be redeemed for cash. Yield is the current rate of return on a
security generally expressed as a percentage of its current price. As per California
Government Code Section 53600.5, safeguarding the principal of the funds under its control
should be the primary objective of local agencies. Liquidity also should be a principal
objective of a portfolio. The portfolio should maintain sufficient liquidity to meet operating
requirements. To accomplish this, a local agency can structure a portfolio so that investments
mature when cash is needed and also by investing in liquid securities with an active secondary
market. Yield should be the last objective an investment portfolio should strive for, behind safety
and liquidity. Since there are many different ways for yield to be calculated, the investment policy
should specify how it is to be calculated.
Internal Controls: The system used to ensure that the local government assets are
protected from loss, theft, or misuse. Such a system should provide a re asonable assurance
that such loss, theft, or misuse can be prevented. Examples include separation of duties,
delegation of authority, and documentation. GFOA suggests that an internal control system
address the following points: control of collusion, separation of transaction authority from
accounting and recordkeeping, custodial safekeeping, avoidance of physical delivery of
securities, clear delegation of authority to subordinate staff, written confirmation of
transactions for investments and wire transfers, and development of a wire transfer
a g r e e m e n t with the lead bank and third-party custodian.
Investment Parameters: Specified restrictions on investments to limit the amount of risk in a
portfolio. These parameters may be specified in the California Government Code;
however, the local agency may choose to further restrict investment options depending on its
risk tolerance. Such parameters may include diversification of investment types, percentages, or
dollar limits per issuer and setting maximum maturities.
Investment Types: A recitation of the investment types the local agency has been given authority in
which to invest. This may be a list of securities allowable under California Government Code Section
53601 et seq., and may be further restricted by the agency itself. For a description of the allowable
California local agency investment instruments, please see CDIAC's latest version of its Local Agency
Investment Guidelines, available on its website at Local Agency Investment Guidelines 2026. GFOA
recommends the investment in the following types of securities: U.S. government securities and
agency obligations; highly-rated certificates of deposit, bankers' acceptances, commercial pa per;
investment-grade state and local government obligations; repurchase agreements securitized by the
previously-mentioned securities; SEC-regulated, dollar-denominated money market mutual funds;
and local government investment pools.
LAIF: Local Agency Investment Fund, the State of California's investment pool in which
cities, counties and special districts may participate.
Liquidity: A liquid asset is one that can be quickly and easily converted into cash without
loss in value.
Market Value: The price at which a security is trading at a point in time. Selling an
investment at market value can result in a gain ($500,000 investment sold for $515,000 =
$15,000 gain) or loss ($500,000 investment sold for $498,000 = $2,000 loss). Gains and
losses are dependent on changes in the current rate of interest as compared to the interest
rate of the investment that is being considered for sale.
Marking-to-Market: The act of recording the price or value of a security to reflect its current
market value rather than its book value.
Maximum Maturities: Maturity is the date on which the security or obligation is redeemed by
the issuer in exchange for cash. California law states that local governments cannot invest in
instruments with terms remaining to maturity in excess of five years unless they receive express
authority from their legislative bodies to do so. Local governments should attempt to match
investment maturities with anticipated cash flow requirements. There is no requirement
under California law for local governments to have a weighted average maturity (WAM)
restriction for their portfolio, although CDIAC's Local Agency Investment Guidelines suggests
that local agencies consider adopting a WAM restriction.
Performance Standards: The criteria by which a stated goal is measured. An investment
portfolio's performance and risk exposure should be evaluated against appropriate
benchmarks on a regular basis. One standard that should be strived for should be a market rate
of return in a given interest rate environment.
Policy Considerations: The local ordinances or other requirements that place restrictions on
the policy. Local governments should consider what should be exempted from the policy
and also when, or under what circumstances, the policy should be amended.
Pooling of Funds: A statement in the investment policy that except for certain restricted or
special funds, cash balances should be consolidated from all funds to maximize
investment earnings .
Portfolio: The collection of investment instruments held.
Prudent Investor Standard: Legal maxim that all investments should be made with care, skill,
prudence and diligence under the circumstances then prevailing, which persons of prudence,
discretion, and intelligence exercise in the professional management of their business
affairs, not for speculation, but for investment, considering the probable safety of their capital
as well as the probable income to be derived.
Reporting: Presentation of evaluation data or other information to communicate processes,
roles, and results. Investment policies should include reporting requirements such as methods
of reporting investments, the standards against which investments should be reported, and the
requirement for calculating market value.
Reporting Methods: Ways in which investment outcomes are reported including listing of
instrument values, dollar value returns, percentage yields, etc. GFOA s uggests that local
governments prepare investment reports at least quarterly. In California, investment reports are
no longer required to be submitted to legislative bodies . This requirement is now
permissive. GFOA goes on to list some suggested components of investment reports, including
listing of securities, gains and losses, average weighted yield to maturity as compared to
benchmarks, listing of investment by maturity date, and percentage of the total portfolio which each
type of investment represents.
Repurchase Agreements: A repurchase agreement is a form of short-term borrowing for
dealers in government securities, which are highly valued and thus considered a good source of
collateral. The dealer sells the government securities to investors, usually on an overnight
basis, and buys them back the following day. Investments in repurchase agreements may be
made when the term of the agreement does not exceed one year.
Risk: Two of the most common risks associated with local government portfolio investing
are credit risk and interest rate risk. Credit risk is the risk to an investor that an issuer will default
in the timely payment of interest and/or principal on a security. Interest rate risk is the risk
that the market value of securities in the portfolio will fall due to changes in general interest
rates. Limiting investment to the safest types of securities, pre-qualifying financial
institutions , broker/dealers, and others with which the local agency will do business,
and diversifying the number of issuers in an investment portfolio can minimize credit risk.
Interest rate risk can be minimized by structuring the portfolio so tha t investments mature at
the same time that cash is required or investing operating funds in highly liquid, shorter-
term securities (e.g., U.S. Treasury bills or notes).
Safekeeping and Custody: Rules derived to ensure the safety of an investment and within
whose control the investment resides. Some examples include third -party safekeeping,
developing lists of authorized financial dealers and institutions, developing internal controls, and
using a delivery vs. payment standard for transactions. Local agencies should consider
requiring securities to be held by third-party custodians, evidenced by timely statements
illustrating the balance held by these custodians.
Scope: The types of funds that the policy covers (e.g., operating funds, bond proceeds, etc.).
In general, investment policies cover short -term operating funds. Longer-term funds such as
retirement funds are covered by oth er policies. The investment of bond funds usually is
governed by the bond documents such as the trust indenture.
Standards of Care: The degree of care that a reasonably prudent person would exercise in the
investment of local agency funds.
Reso 33-26 Adopting Investment Policy
Final Audit Report 2026-06-11
Created:2026-06-10
By:Heather Goodwin (hgoodwin@morrobayca.gov)
Status:Signed
Transaction ID:CBJCHBCAABAAszPcmt1uAR0PGJPioEJ3xzSBetxUKmyA
"Reso 33-26 Adopting Investment Policy" History
Document created by Heather Goodwin (hgoodwin@morrobayca.gov)
2026-06-10 - 9:07:04 PM GMT
Document emailed to cwixom@morrobayca.gov for signature
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Email viewed by cwixom@morrobayca.gov
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Signer cwixom@morrobayca.gov entered name at signing as Carla Wixom
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