Title
Minutes of the Joint City Council and SACIC Meeting Held on December 6, 2022. (City Clerk)
Body
UNAPPROVED
MINUTES OF THE SPECIAL JOINT MEETING OF THE CITY COUNCIL AND
SUCCESSOR AGENCY TO THE
COMMUNITY IMPROVEMENT COMMISSION (SACIC)
TUESDAY- -DECEMBER 6, 2022- -6:45 P.M.
Mayor/Chair Ezzy Ashcraft convened the meeting at 7:18 p.m. Councilmember/Commissioner Herrera Spencer led the Pledge of Allegiance.
ROLL CALL - Present: Councilmembers/Commissioners Daysog, Herrera Spencer, Knox White, Vella and Mayor/Chair Ezzy Ashcraft - 5. [Note: The meeting was held via Zoom.]
Absent: None.
CONSENT CALENDAR
Councilmember/Commissioner Knox White moved approval of the Consent Calendar.
Expressed concern about the investment report and minutes: Tod Hickman.
Councilmember/Commissioner Herrera Spencer requested the Investment Report [paragraph no. 22- CC/22- SACIC] be withdrawn from the Consent Calendar for discussion.
Mayor Ezzy Ashcraft suggest the motion be held until after Council addresses the Investment Report.
(*22- SACIC) Minutes of the Joint City Council and SACIC Meeting Held on October 18, 2022. Approved.
[Note: The Consent Calendar vote was taken under the Investment Report.]
(22- CC/22- SACIC) Recommendation to Accept the Investment Transactions Report for the Period Ending September 30, 2022.
The City Treasurer gave a brief presentation.
Councilmember/Commissioner Herrera Spencer stated the report is quarterly; noted there are very low interest rates; stated the City is lucky to have the City Treasurer to present and explain the matter; next quarter transactions will likely show more of the same trends; inquired the anticipated results for the annual report.
The City Treasurer responded the annual report will cover through June 30, 2023; stated the results will depend on what occurs from now until then; he has not seen interest rate increases this sharp in 30 years; the immediate impacts are dramatic, however, long-term effects...
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