May 14, 2010
REPORT OF THE RULES, POLICY AND INDUSTRIAL RELATIONS COMMITTEE
Honorable Board of Directors
Golden Gate Bridge, Highway
and Transportation District
Honorable Members:
A meeting of the Rules, Policy and Industrial Relations Committee was held in the Board Room, Administration Building, Toll Plaza, San Francisco, California, on Friday, May 14, 2010, at 9:15 a.m., Chair Pahre presiding.
Committee Members Present (5): Chair Pahre; Vice Chair McGlashan; Directors Elsbernd and Snyder; President Boro (Ex Officio)
Committee Members Absent (2): Directors Newhouse Segal and Sanders
Other Directors Present (3): Director Cochran; Second Vice President Eddie; First Vice President Reilly
Staff Present: General Manager Celia G. Kupersmith; District Engineer Denis J. Mulligan; Director of Procurement and Retail Operations and Acting Auditor-Controller Lori Murray; Secretary of the District Janet S. Tarantino; Attorney David J. Miller; Assistant Clerk of the Board Lona Franklin
Visitors Present: None
| 1. | Approve Adoption of Master Ordinance 2010 In a memorandum to Committee, Secretary of the District Janet Tarantino and General Manager Celia Kupersmith reported on staff’s recommendation to adopt Master Ordinance 2010, which will codify previous changes approved by the Board in 2009 and repeal Master Ordinance 2009. The report stated that the Master Ordinance serves as a repository for actions taken by the Board during a calendar year to: 1) establish tolls, services charges and transit fares; and, 2) prescribe rules and regulations governing use of the Golden Gate Bridge, its approaches and its facilities, including the District’s bus and ferry systems. During the calendar year, ordinances are individually adopted. Those with continuing validity are incorporated into a new Master Ordinance. The following ordinances were adopted during calendar year 2009:
A copy of the staff report and the adopted Master Ordinance 2010 are available from the office of the District Secretary and on the District’s website. Staff recommended, and the Committee concurred by motion made and seconded by Directors COCHRAN/ELSBERND, to forward the following recommendation to the Board of Directors for its consideration: RECOMMENDATION The Rules, Policy and Industrial Relations Committee recommends that the Board of Directors approve adoption of Master Ordinance 2010, which, |
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| a. | Codifies previous changes approved by the Board in 2009; and, | ||
| b. | Repeals Master Ordinance 2009. Action by the Board at its meeting of May 14, 2010 – Ordinance |
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AYES (8): Chair Pahre; Vice Chair McGlashan; Directors Cochran, Eddie, Elsbernd, Reilly and Snyder; President Boro (Ex Officio) |
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| 2. | Approve an Amendment to Rule XI, Investment Policy, of The Rules of the Board In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith reported on staff’s recommendation to approve an amendment to RULE XI, INVESTMENT POLICY, of the Rules of the Board (Rule XI), to include a new provision for authority to invest in the State of California’s Local Agency Investment Fund (LAIF). The report stated that on February 27, 2009, the Board of Directors of the District approved an amendment to Rule XI, Investment Policy, of the Rules of the Board, whereby the District would conform to Section 53601 for permitted investment instruments except for certain District-imposed additional restrictions, resulting in the District’s Investment Policy no longer listing the District’s permitted investment instruments. The report further stated that in addition to the authority to invest District funds in those investment instruments permitted pursuant to Section 53601, the District is also authorized to invest its funds in LAIF, pursuant to Government Code Section 16429.1. Because the District’s current Investment Policy only references those investments permitted pursuant to Government Code Section 53601, and is silent with regard to the authority to invest in LAIF, it is recommended that Rule XI be amended to include a new provision which will provide for the authority to invest in LAIF up to the maximum amount allowed by the State Treasurer. Staff recommended, and the Committee concurred by motion made and seconded by Directors ELSBERND/McGLASHAN, to forward the following recommendation to the Board of Directors for its consideration: RECOMMENDATION The Rules, Policy and Industrial Relations Committee recommends that the Board of Directors approve an amendment to RULE XI., INVESTMENT POLICY, of the Rules of the Board by adding Subsection “J” to the Investment Policy, as follows: |
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| “J. | Local Agency Investment Fund
“The District is also authorized to invest in the State of California’s Local Agency Investment Fund pursuant to California Government Code Section 16429.1, up to the maximum amount allowed by the State Treasurer.” Action by the Board at its meeting of May 14, 2010 – Resolution |
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AYES (8): Chair Pahre; Vice Chair McGlashan; Directors Cochran, Eddie, Elsbernd, Reilly and Snyder; President Boro (Ex Officio) |
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| 3. | Public Comment There was no public comment. |
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| 4. | Adjournment All business having been concluded, the meeting was adjourned at 9:25 a.m. |
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Respectfully submitted,
s/ Barbara L. Pahre, Chair
Rules, Policy and Industrial Relations Committee