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Investment Policy <br /> Tustin annually adopts an investment policy. The most recent modifications adopted by the City <br /> Council on April 1, 1996, are in compliance with newly adopted state legislation and in a number of areas are <br /> more restrictive than State requirements. The Policy requires that an investment report be submitted quarterly <br /> to the City Council. In 1988, the City Council established the City of Tustin Audit Committee which meets <br /> on a bi-monthly basis. It is a five member advisory body made up of citizens appointed by the City Council. <br /> The annual review of the City's Investment Policy is a primary function of the Committee. <br /> Description of Leased Premises <br /> Tustin's new Civic Center is a two story structure in a Santa Barbara Mission style architecture, with <br /> beautifully landscaped grounds which include a wishing well. The main lobby features a picturesque fountain <br /> surrounded by tropical plants on the porcelain tile, with sitting areas for residents to enjoy. <br /> The Civic Center expansion's general architecture was designed by John Bates and Associates. The <br /> interior finishings and furniture were designed by Laura McCants Interior Design and Planning. Project <br /> management was provided by HNTB Corporation, and the contractor for the project was Dillingham <br /> Construction, N.A. <br /> Construction of the Civic Center improvements began in August of 1991 and the $11.4 million project <br /> was completed in August of 1993. Improvements were financed by the Tustin Community Redevelopment <br /> Agency and developer fee contributions from new construction in Tustin Ranch. The entire complex is <br /> approximately 69,000 square feet, with an adjacent 59,000 square foot parking structure. The Civic Center <br /> complex is comprised of the City Hall, Police Department, Council Chamber and the Community Center. <br /> Based upon an appraisal conducted in 1994 by the Orange County Cities Risk Management Authority, <br /> the City Hall complex has been valued at $13,100,000. <br /> The City of Tustin's Site Lease and Lease Agreement will support the City's share of the Bonds which <br /> is $2,740,000*. <br /> *Preliminary, subject to change. <br /> B-109 <br />