The Weekly Newspaper of El Segundo
Herald Publications - El Segundo, Hawthorne, Lawndale & Inglewood Community Newspapers Since 1911 - (310) 322-1830 - Vol. 108, No. 23 - June 6, 2019
Inside
This Issue
Certified & Licensed
Professionals.....................11
Classifieds............................4
Crossword/Sudoku.............4
Community Briefs...............3
Legals..................................10
Letters...................................3
Obituaries.............................2
Real Estate..................7-9,12
School Spotlight..................5
Sports.................................5,6
Weekend
Forecast
ESHS Students Earn First Place
Science Award at Herndon Event
El Segundo High School students recently received the First Place Science Experiment Award at the Aerospace Corporation’s 42nd Herndon Science Competition with their exhibit “The NUBEsat.” In the
photo from left: Alonzo Prater (Aerospace Corporation), Daniel Horvath (teacher) Trevor Loe, Matthew Tritasavit, Andrew Fahey, Luke Calimlim, Ethan Sorensen (El Segundo High School) Oliver Ambrosia
(Aerospace Corporation). Photo: Aerospace Corporation
City Council Meets New Officers,
Gets Investment/Trash/ADU News
By Brian Simon
Tuesday night’s El Segundo City Council
meeting featured four members on the premises
plus Chris Pimentel participating and
voting via teleconference from a lodge in
Pennsylvania. Police Chief Bill Whalen kicked
off the proceedings by introducing the three
newest officers in his department—all with
local ties. Oscar Haro and Zachary Contreras
recently graduated from the police academy
in Riverside County and are now in the Field
Training Officer Program. The third, Anthony
Sanchez, is a hire Whalen described as a
“remarkable event” since the former is the
first true lateral officer to join the El Segundo
Police Department since 2011. As part of an
aggressive recruitment campaign to bolster
sworn personnel, the ESPD offers laterals who
come from other agencies a $25,000 signing
bonus incentive.
City Treasurer Crista Binder and Deputy
City Treasurer II Dino Marsocci presented
their quarterly investment portfolio update
with some notable news about the economy.
A marked drop since the end of March in the
5-year yield suggests an economic slowdown
(though not necessarily a full-on recession),
with the Federal Reserve likely to cut interest
rates twice between September and December.
However, unemployment remains low and
inflation numbers hover near the Fed’s target
of 2 percent – both reasons for optimism. At
the same time trading uncertainty with China
and Mexico has put a strain on the market,
with bond yields falling as a result.
To hedge against further yield reductions,
Binder and Marsocci confirmed that the City
of El Segundo made a flurry of investments in
the past couple of weeks – particularly 5-year
CDs – to lock in better rates now while still
maintaining diversification. Looking overall,
the City’s total invested portfolio market value
is $84 million, with an effective yield of 2.33
percent at the end of the last quarter and continued
compliance with the investment policy.
During this quarter, the City purchased
three CDs for $735,000 and one corporate
bond for $500,000. Two investments matured
for $1.245 million and three bonds called for
$1.5 million. Since March 31, the City bought
17 CDs for $4.165 million, three municipal
bonds for $2 million, two corporate bonds for
$1 million and one Supra bond for $1 million.
Four investments matured since March
for $1.745 million. Also during this time,
the City moved $16.75 million in funds to
CAMP, which is a new permitted investment
pool added to the policy in June 2018. The
effective yield in CAMP at the end of this
quarter was 2.61 percent. Total invested at
the end of March was $25.7 million.
Addressing a January compliance order from
the Department of Resources Recycling and Recovery
(CalRecycle), the Council introduced an
ordinance amending the City’s solid waste and
recycling code to meet current state-mandated
requirements. Public Works Director Ken
Berkman referred to the ordinance as a
“critical step” in achieving the necessary
compliance. One key change is to establish
a permitting and regulatory program starting
January 2020 for commercial and multi-family
residential properties in regards to solid waste
(keeping it out of landfills) and recycling. It
will require the more than 20 local licensed
haulers to provide detailed reports showing all
reasonable efforts are being made to properly
implement the program – including monitoring,
education and enforcement.
While the City has done well in the area
of green recycling and posts good waste diversion
numbers, it apparently isn’t enough.
City Attorney Mark Hensley said CalRecycle
wants to see El Segundo perform even better
– and will require haulers to keep track
of business and residential diversion. The
permit system –with a fee to be established
by the Council in coming months -- essentially
puts the burden on the haulers to ensure
compliance, Berkman explained, and could
prompt some to opt out of doing business
in town. He added that the City also plans
to look at franchising commercial collection
(currently it only does so for single-family
residences and duplexes) in five years. The
amended ordinance will also clarify limitations
on large, bulky items left for pick-up
at residences.
Friday
AM Clouds/
PM Sun
67˚/60˚
Saturday
Partly
Cloudy
68˚/61˚
Sunday
Partly
Cloudy
69˚/62˚
See City Council, page 6