Resolution No. 2026-19: Finding Consistency with Stated Investment Objectives and Amending City Council Policy F-1 (Statement of Investment Policy) to Incorporate Changes in Government Code Section 53600, Et Seq

The City Council is considering Resolution No. 2026-19 to amend City Council Policy F-1, the Statement of Investment Policy. This amendment is primarily to incorporate changes from California Senate Bill 595, effective January 1, 2026, which modifies regulations regarding authorized investments, including extensions to the maximum maturity for prime commercial paper and increased portfolio allocations for eligible commercial paper. The policy will also be updated to reflect current industry standards and add new definitions to its glossary. The Finance Committee reviewed these proposed changes on January 15, 2026, and recommended approval. The action is considered routine administrative housekeeping with no direct fiscal impact, as it aims to maintain the City's investment objectives of safety, liquidity, and yield in compliance with state law.