6.6.6.040 Findings

The Council hereby finds and declares that:

(a) The Pueblo maintains investment accounts with an investment advisor, San Francisco Sentry, containing significant funds for the future needs of the Pueblo and to provide security for unforeseen circumstances;

(b) San Francisco Sentry makes important decisions regarding the management of the Pueblo's investment accounts and involving complicated securities transactions in a highly regulated environment;

(c) The Council has identified the need to provide additional protections and monitoring of the Pueblo's investment accounts through regular, professional monitoring of the transactions involving the Pueblo's funds;

(d) The Council and Executive Branch officials have identified a highly qualified portfolio monitoring company, Portfolio Monitoring, LLC, that provides specialized and cost-effective services to protect the Pueblo's sizeable accounts maintained at San Francisco Sentry;

(e) The Council has determined that the use of a small fraction of the investment funds, approximately $55,000, to provide additional protection to the Pueblo's sizeable investment fund is cost-effective and fulfills its fiduciary duty owed to the members of the Pueblo.