Resolution - 6938•
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RESOLUTION NO. 6938
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA, CALIFORNIA ESTABLISHING THE FINANCIAL
DISCLOSURE REQUIREMENTS FOR THE TRANSITION/WASTE
MANAGEMENT COMMISSION.
WHEREAS, State and the City of West Covina conflict
of Interest Code requires the Transition/Waste Management
Commission to make a recommendation as to the scope of their
individual financial disclosure; and
WHEREAS, the Transition/Waste Management Commission has
reviewed and adopted the City Attorney's recommended disclosure
(1, 2, & 3); and
WHEREAS, the Transition/Waste Management Commission does
recommend disclosure categories (1, 2, & 3) to the City Council
as being appropriate for the Commission.
NOW, THEREFORE, be it resolved, the City Council of the
City of West Covina does resolve as follows:
ATTEST:
1. Disclosure categories; 1) Real Property, 2) Invest-
ments, and 3) Income received from sources within
jurisdiction, per attachment "A" shall pertain
to -the Transition/Waste Management Commission in
consideration of the Annual Statement of
Economic Interest.
2. The City Clerk shall certify to the adoption of
this resolution.
APPROVED AND ADOPTED THIS _ 8tom_ day of October 1984.
City Cleilk
go M M STAS, I I
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I hereby certify that the foregoing Resolution
No. 6938 was duly adopted by the City Council of the City
of West Covina, at a regular meeting thereof held on the 8th
Of. October , 1984 by the following vote of the Council:
• AYES: Manners, Chappell, Shearer, Tennant, Bacon'
NOES: None
ABSENT: None
APPROVED AS TO FORM:
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C ty At me
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City Cle k
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Category 1.
ATTACHMENT "A"
DI.SCLOSURE CATEGORIES
Persons in this category shall disclose all
real property within the jurisdiction. Real property
deemed to be within the jurisdiction if less than two
the boundaries of the jurisdiction or within two miles
owned or used by the local government agency.
Category 2.
interests in
shall. be
miles outside;
of any land
Persons in this category shall disclose all investments.
Investment means:
. . any financial interest in or security issued
by a business entity, including but not limited to,
common stock, preferred stock, rights, warrants,
options, debt instruments and any partnership or
other ownership interest. i'f the business entity or
any parent, subsidiary or otherwise related business
• entity has an interest in real property in the
jurisdiction, or does business or plans to do
business in the jurisdiction, or has done business
within the jurisdiction at any time during the two
years prior to the time any statement or other
action is required under this title. No asset shall
be deemed an investment unless its fair market value
exceeds one thousand dollars ($1,000.00). The term
'investment' does not include a time or demand de »sit
in a financial institution, shares in a cradit union,
any insurance policy, or any bond or other debt
instrument issued by any government or government
agency. Investments of an individual includes a pro
rata share of investments of any business entity or
trust in which the individual or spouse owns,
directly, indirectly or beneficially, a ten percent
(100/6) interest, or greater ."
Category 3.
Persons in this category shall disclose all income
received from any source located or doing business within the
jurisdiction or`expecting to do business within the jurisdiction.
Income received from a public agency need not be disclosed. Income
of persons in this category also includes a pro rata share of airy
income of any business entity located or doing business within the
jurisdiction in which the person or spouse owns, directly, , in-
directly or beneficially, a ten percent (l0/) interest,, or greater.