Valley News -

By Tony Ault
Staff Writer 

San Jacinto hears financial investment report, asks regular updates from contracted advisors

 

Last updated 9/13/2018 at 7:11pm

Courtesy

San Jacinto Mayor Crystal Ruiz reads her notes taken during her second meeting with President Donald Trump and Vice President Michael Pence at the Capitol, honoring ICE and the U.S. Border Patrol.

The San Jacinto City Council, following a quarterly City Investment Program report, is requesting its investment managers to provide more information to the city's finance department on the nation's trends for the next five years to apprise the city of the best investment strategies.

The quarterly Statement of Investment Policy was presented by representatives from Chandler Asset Management and Public Trust Advisors who gave a "snapshot" report of the city's cash position at the end of July 31. It showed the city's more than $10 million in investments, as required by government code, posted slight gains of 2.56 to 2.65 percent in the quarter.

The city's investments and their earnings are returned to the city and used for needed public services and projects that benefit all its citizens. The city's investment portfolio remains invested in high credit quality securities of appropriated maturity and duration as well as high-quality corporate and taxable municipal bonds that generate a yield premium over Treasury bonds, according to PTA reports.

The adviser told the council that the city's investment strategy should consider that the Federal Reserve has raised its fund rate three times over the past 12 months and may raise it two more times before the end of the year. The adviser said it suggested the pace of the interest rate will likely remain the same and the future returns may be historically lower in the next few years.

Councilman Andrew Kotyuk said that there are cycles in the economy and at this time are considered high, but following the high there is usually a recession. Kotyuk asked the advisors to keep a close watch on the trends and invest the city's money wisely, keeping the finance director and city council continuously updated. They said they would and will report back with the latest updates by the first of next year. Investment reports are made public quarterly in the council meetings and the reports available through the city clerk's office.

The council took the reports under advisement and filed them for future reference.

Mayor Crystal Ruiz reported on second meet with President Donald Trump and announced she would meet again with the president, Sept. 20.

Ruiz met with Trump and other city mayors for the second time to honor the Department of Homeland Security's Immigration and Customs Enforcement office and to explain the efforts they are making in reducing drug smuggling and human trafficking.

In the one-hour meeting on border issues with Trump and Vice President Michael Pence, the president said the Border Patrol helps prevent terrorists from coming into the country, go after illegal drug smugglers, sex traffickers, illegal gun and ammunition smugglers and in doing so partner with state and local law enforcement.

As a result, a Joint Terrorism Task Force has been formed. While there are millions of opportunities to make a mistake every day, but 90 percent of those arrested by ICE are convicted criminals, the chief executives said.

"In the last 35 years, the terrorists have merged with gangs and are now a focus for the task force. Gangs are no longer just tagging our communities; they are sex trafficking our children, selling them into slavery and using butchery techniques to intimidate entire communities. Ten known or suspected terrorists being arrested a day coming across the southern border," according to Ruiz' meeting notes.

Ruiz said they were told, "One of the National Parks agents was attacked, beaten and left for dead by an illegal immigrant who had done time twice already and was deported multiple times.

"Back east a 13-year-old girl was beheaded just to send a message to the community and enforce their code of conduct on the local residents," Ruiz' note showed.

Trump said, "A lot of focus has been on the people crossing the border that don't present an obvious threat, but along with them is a hardened group of smuggling organizations that are trans international groups that are blatantly violating our laws and coming through the southern border. This puts all of us at risk."

The mayors heard there was a 2 percent increase in narcotics coming across the border last year and 70,000 pounds of meth. There is a spike in heroin and fentanyl coming across the southern border as well.

Trump noted in the discussion, "The rule of law matters. Congress sets the policy. Law enforcement has the obligation to enforce the law fairly and impartially. When cities decide to become sanctuary cities, they knowingly and willfully are violating the laws. This says to criminals, 'It is OK to commit these violent acts of crime and we will openly welcome you.' It is time Congress to defund those cities that support violating the law by becoming sanctuary cities."

Ruiz noted, "Border security is national security and the frustration with sanctuary cities is extremely high from cities, counties, states, public safety officers, ICE, border patrol and the federal government. The blatant violation of the law is putting all citizens at risk." She read from her notes, "States, counties and cities are pushing Congress to stop funding sanctuary cities."

Immigration and Customs Enforcement and Homeland Security are dedicated to the long-term investigations, Ruiz said. They are going after the cartels, how they work and how they are financed. With that, the president honored some of the agents and the departments, including a border agent who recently saved 78 immigrants from the back of a very hot truck without water, Ruiz said.

Looking at the city's fire and police chiefs at the meeting, Ruiz said, "The president and his staff send thanks to our San Jacinto Police Department and Riverside County Sheriff's Department. You are making a difference, and they want you to know that they appreciate all you do."

Tony Ault may be reached by email at [email protected]

 

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