HomeMy WebLinkAboutMINUTES - 02051985 - IO.3 T7: BOARD OF SUPERVISORS
Contra
FROM: Internal Operations Committee
'Costa
DATE: January 28, 1985 Copinty
SUBJECT: Policy on Investments in Firms doing
Business in South Africa
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) !I: BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
I. Adopt attached statement of Board policy on investments in firms doing business in
the Republic of South Africa.
2. Direct Clerk of the Board to forward copies of this report, the attached policy
statement and the County Administrator's report dated January 15, 1985 to the
President of the United States, and to this County's state and federal legislative
and congressional delegations, requesting that they take a forceful and appropriate
action against the apartheid policy of the Republic of South Africa.
3. Direct County Administrator to forward a copy of this report, the attached policy
statement and the County Administrator's report dated January 15 to State Controller
Ken Cory and ask that he consider it in relation to his responsibility for investing
State funds.
4. Commend the County Retirement Board for their position on the use of proxy votes to
demonstrate the Retirement Board's opposition to the apartheid policy of the
Government of the Republic of South Africa.
5. Request the Retirement Administrator to advise the Board of Supervisors the names
of those firms in which the Retirement Board holds shares of stock or bonds who do
business in South Africa.
6. Direct the County Administrator to send the Board's policy statement to the firms
identified by the Retirement Administrator with a letter urging them to withdraw
their corporate activity from the Republic of South Africa as rapidly as possible.
7. Direct the County Administrator to forward a copy of the attached policy statement
from the Alameda County Employees' Retirement Association to the Contra Costa County
Employees' Retirement Association, and request that they consider adoption of a
similar policy.
8. Request that the Retirement Administrator advise the Board of Supervisors of ways
in which Contra Costa County can work cooperatively with other county retirement
systems to achieve the goals of the attached policy statement.
9. Direct the County Administrator to forward to the County Treasurer--Tax Collector
the list of firms doing business in the Republic of South Africa indicating that
it is the Board's intent to apply a policy similar to the one adopted by Alameda
County for our own investment profile and request that the Treasurer--Tax Collector
comment to the Board of Supervisors on the extent to which he has funds invested
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMM D TION OF OARD COMMITTEE
APPROVE ER
SIGNATURE(Sj Tom Torlakson T wers
ACTION OF BOARD ON FAhruary S. 19RS APPROVED AS RECOMMENDED _ OTHER
VOTE OF SUPERVISORS
UNANIMOUS (ABSENT III ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
CC: ATTESTED February 5 198,E
See page 2 for
PHIL BATCHELOR. CLERK OF THE BOARD OF
distribution. SUPERVISORS AND COUNTY ADMINISTRATOR
s M3e2/7-e3 BY DEPUT
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9. (continued)
in those firms and on the extent, to:,which" he-believes- i•t-woul-d- be -prudent to
withdraw investment of County funds from those =firms..:.
10. Indicate that it is the Board's intent to consider sensitivity to
social issues, as well as`_ffnancial 'knowledge; when'-making public
member appointments to the Retirement Board:: `- u y '
BACKGROUND:
On January 15, 1985, the Board of Supervisors referred to our Committee a
report from the County-Administrator in response to a previous Board referral
relating to the investment of County Retirement Association funds in firms who
do business in or with the Republic of South Africa. Our Committee met with
the Retirement Administrator and staff from the County Administrator's Office
on January 28. Our Committee recognizes and respects the independence of the
Retirement Association and its Board in terms of its investment policy.
Supervisor Torlakson did, however, make available a letter from the Alameda
County Retirement Administrator which included a policy statement their
Association had adopted. This policy statement calls for taking into account
the "social and environmental policies of the corporation in which the fund
owns or contemplates owning investments". We have prepared a proposed policy
statement which we recommend the Board adopt and distribute as noted in our
recommendations.
We believe it is important for the Board of Supervisors to express its unalterable
opposition to the barbaric and inhumane policies of the government of South Africa.
These policies have resulted in the forced relocation of blacks within South
Africa and the denial of their most basic human rights and freedom. We believe
that if other measures are unsuccessful , the economic power of the United States
and of state and local government must be brought to bear in a way that will end
the policy of apartheid within South Africa.
cc: County Administrator
President Ronald Reagan
Senators Alan Cranston, Pete Wilson
Congressmen George Miller, Ron Dellums,
Pete Stark
County Retirement Board
Retirement Administrator
Senators Dan Boatwright, Nicholas Petris
Assemblymen William Baker, Tom Bates,
Robert Campbell , Phil Isenberg
State Controller Ken Cory (via CAO)
Alameda County Retirement Assoc. (via CAO)
Treasurer-Tax Collector (via CAO)
Firms doing business in South Africa (via CAO)
Government of South Africa (via CAO)
V
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on February 5, 1985
p r , . by,the,following vote:
AYES: Supervisors Powers , McPeak.,, Torlakson , Fanden
NOES: None
ABSENT: Supervisor`Schroder "
ABSTAIN: None
SUBJECT: )
County Policy on Investments )
in Firms doing Business in ) RESOLUTION NO. 85/ 46
the Republic of South Africa. )
WHEREAS the government of South Africa pursues as national policy,
political , social and economic discrimination towards its Black citizens, known
as "apartheid"; and
WHEREAS the government of South Africa also suppresses its "colored"
citizens in an only slightly less deplorable manner; and
WHEREAS Americans of every faith and color, humble and renowned, have
struggled non-violently to preserve the right of Americans to be free of bigotry,
to live in dignity and to have the opportunity to achieve political , social and
economic justice without restraints imposed by their government; and
WHEREAS various corporations continue to do business with the government
of South Africa and operate plants within South Africa thereby contributing to
the economy of a government which continues to practice this unacceptable national
policy known as "apartheid";
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County
of Contra Costa that it expresses publicly its unalterable opposition to the
barbaric and inhumane policy of apartheid as practiced by the government of
South Africa; and
BE IT FURTHER RESOLVED that the Board calls on all parties who are
responsible for the investment of public funds in private corporations which may
be contributing to the policy of apartheid to use their proxy authority to protest
the policy of apartheid; to express directly to such corporations their desire
that the corporation withdraw from corporate activity within South Africa as
rapidly as possible and, if necessary, to terminate all financial relationships
with such corporations in order to express their insistence that pressure be
brought to bear on the government of South Africa to abandon the policy of
apartheid; and
BE IT FURTHER RESOLVED that copies of this Resolution be forwarded to
the President of the United States and this County's State and National Legislative
Representatives.
I hereby certify that,iisis la a trus and correct copy of
an action taken and a,tcr£�on the minutes of the
Board of Supervi ars on Cle date shown.
ATTESTED: ____, ✓ / y s
F 11L BATCHELOR, Clerk o, 'the Board
Of Supervisors and COLn.y Administrator
Orig. Dept.: County Administrator
cc: President Ronald Reagan By , Deputy
State Legislative .Delegation
Congressional Representatives
RESOLUTION NO. 85/ 46
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