HomeMy WebLinkAboutReso 145-13 Investment Mgmt Svcs RESOLUTION NO. 145 - 13
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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AUTHORIZING THE CITY MANAGER TO EXECUTE AN
AGREEMENT WITH CHANDLER ASSET MANAGEMENT TO PROVIDE INVESTMENT
MANAGEMENT SERVICES
WHEREAS, the City desires to engage a professional investment management firm with
the technical expertise to develop and implement a sophisticated investment strategy; and
WHEREAS, best practices in municipal finance recommend that investments be made
with judgment and care, considering the probable safety of assets as well as the probable
income to be derived ; and
WHEREAS, the City Staff issued a Request for Proposals to provide investment services
and received four responses; and
WHEREAS, City Staff evaluated the responses and determined that the proposed scope
of work and approach to the provision of investment management services and preparation of
investment reports presented by Chandler Asset Management most closely related to the City's
needs; and
WHEREAS, Chandler Asset Management has specializes in and has extensive
experience in public agency investing; and
WHEREAS, Chandler Asset Management proposed a three-year contract with annual
options to extend, with a proposed estimated fee in the first year of eight (8) basis points (.08 of
1%) on $100,000,000 in total asset valuation under Chandler's direct management; and
WHEREAS, the first contract year is estimated at $80,000, based on $100,000,000 of
asset valuation under Chandler's direct management.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby authorize the City Manager to execute the agreement with Chandler Asset Management
to provide comprehensive investment management services in a contract amount estimated at
$80,000 for the first year.
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PASSED, APPROVED AND.ADOPTED this 20th day of August, 2013, by the following
vote:
AYES: Councilmembers Biddle, Gupta, Hart, Haubert, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
0
Mayor
ATTEST:
6tAn9
City Clerk
Reso No. 145-13, Adopted 8-20-13, Item 8.4 Page 2 of 2