HomeMy WebLinkAboutReso - CC - 061-2014RESOLUTION NO. 61-2014
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
AWARDING A CONTRACT TO PFM ASSET MANAGEMENT LLC FOR
INVESTMENT ADVISORY SERVICES, AND AUTHORIZING THE CITY
MANAGER TO EXECUTE A CONTRACT ON BEHALF OF THE CITY
WHEREAS, the City Council previously considered and approved the
procurement of investment advisory services to assist with the optimal investment of the
City's portfolio; and
WHEREAS, City staff issued a Request for Proposals (RFP) for investment
advisory services, received proposals from five (5) firms meeting minimum qualifications,
and evaluated them initially on the basis of the written proposals and then through
follow-up questions and reference checks; and
WHEREAS, PFM Asset Management LLC was selected as the best qualified to
advise and help manage the City's portfolio;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME
DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
The City of Burlingame award a contract for Investment Advisory Services
to PFM Asset Management LLC
The City Manager is hereby authorized to execute an agreement with
PFM Asset Management LLC to serve as the City's Investment Advisor, to
advise and manage the City's portfolio in compliance with the City's Investment
Policy.
Mic I Brownri ayor
I, Mary Ellen Kearney, City Clerk of the City of Burlingame, do hereby certify that
the foregoing Resolution was introduced at a regular meeting of the Burlingame City
Council held on the 7th day of July, 2014, and was adopted thereafter by the following
vote:
AYES: Councilmembers:BROWNRIGG,DEAL,KEIGHRAN,NAGEL,ORTIZ
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
Ut'4
Mary Elle Kearney, bity Clerk