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RESOLUTION NO. 8515 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />REDLANDS AUTHORIZING CITY STAFF TO VOTE CITY -OWNED SHARES OF WATER <br />COMPANY STOCK <br />WHEREAS, the City of Redlands owns shares of various water company stock that allow <br />the City to receive water at its Horace Hinckley and Henry Tate surface water treatments plants; <br />and <br />WHEREAS, every year, each of the water companies for which the City owns shares has <br />an annual shareholder meeting and from time to time other specially -called meetings of its <br />shareholders, (collectively, the "Shareholder Meetings"); and <br />WHEREAS, at such Shareholder Meetings, topics are discussed and voted upon that may <br />impact operations and management of each water company and the City; and <br />WHEREAS, for decades, City staff has voted such shares on behalf of the City at such <br />Shareholder Meetings; and <br />WHEREAS, often information on the topics to be voted on is not available to City staff <br />prior to such Shareholder Meetings; and <br />WHEREAS, it is the desire of the City Council of the City of Redlands to formally authorize <br />City staff to vote on behalf of the City at any such Shareholder Meetings, and bring to the City <br />Council, when practicable, water company topics proposed for discussion and direction at such <br />meetings; and <br />WHEREAS, by this Resolution, the City Council's intends to formally adopt a policy that ratifies <br />existing practice. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redlands as <br />follows: <br />Section 1. The City Council of the City of Redlands authorizes City staff to vote on <br />behalf of the City at any annual or other specially -called water company shareholder meetings, <br />bring to City Council when practicable water company topics proposed for discussion and <br />direction at such meetings, and provide a report on the actions that are voted on. <br />Section 2. <br />adoption. <br />This Resolution shall take effect from and after the date of its passage and <br />ADOPTED, SIGNED AND APPROVED this 19th day of Se mbe <br />ATTEST: <br />fine Donaldson, City Clerk <br />1 <br />I:\Resolutions\Res 8500-8599\8515 Water Voting.docx-jm <br />Eddie Tejeda, Mayo <br />