Antioch City Council Fails to Advance Proposed Ethical Investment Policy After Motion Dies Without Second

The Antioch City Council debated but ultimately failed to pass a proposed municipal ethical investment policy that would have guided city investments away from private prisons, certain Israel-linked companies, and aerospace, defense, oil, gas, and coal companies. During the session at Antioch City Hall on H Street, Council member Tamisha Torres-Walker made a motion to approve the policy with a change suggested by Finance Director Dawn Merchant, but the motion died after failing to receive a second.

City Treasurer Jorge Rojas Junior and community coalition Contra Costa Divest formed the proposal, drawing East County residents to the council chambers for public comment. Proponents urged the municipality to align its investment portfolio with human rights and environmental standards, similar to policies debated in Richmond, Berkeley, and Concord. Seeking council consensus, Torres-Walker said she was willing to strike prohibitions on investing in industries that are known to harm human health or the environment while keeping targeted exclusions intact.

However, council members expressed diverging views on the scope of the treasury restrictions. Mayor Ron Bernal opposed adopting the ordinance as drafted, saying the policy was too broad and could complicate the finance department's fiduciary duty to safeguard municipal liquidity. Meanwhile, Mayor Pro Tem Don Freitas voiced criticism of federal military aid during the debate, saying the United States supplies Israel with weapons that they use to kill people in Gaza, before suggesting that community members redraft the policy and return with a revised proposal.

Municipal finance officers and county treasury oversight committees across Contra Costa County note that California state law requires local governments to prioritize safety of principal and liquidity before yield when managing public tax dollars. Finance Director Merchant's staff report outlined how municipal funds are pooled in diversified government securities, state investment funds, and corporate commercial paper.

Antioch residents and civic coalition members can review the treasury staff report, video recordings of the council debate, and existing investment guidelines online at antiochca.gov. Community advocates with Contra Costa Divest plan to hold workshops in East County to redraft the policy language for a future council agenda. Inquiries regarding municipal treasury management at 200 H Street may be directed to the Antioch City Clerk's Office at (925) 779-7000.