On June 22 2021, the City Council adopted Resolution No. 2021-109, establishing an Investment Advisory Committee (IAC). The Resolution is attached as Exhibit B. Subsequently, staff published a call for applicants to fill the three committee positions. The City Council interviewed qualified applicants at a special City Council meeting on September 3, 2021. During deliberations, discussion took place regarding the addition of an alternate member to the IAC. Because the IAC is comprised of only three members, it is recommended that an alternate position be added to ensure that the committee is able to conduct its duties in the event an appointed member is unavailable for a regularly scheduled meeting.

A resolution to amend Resolution No. 2021-109 to establish an alternate member to the IAC is presented for the City Council's approval and is attached as Exhibit A.