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January 6, 2000 Page 4 Understanding, which identifies all conditions of the proposed fence including safety considerations. In response to Lange's inquiry, Sorensen explained that there are no user conflicts at Cypress Park and, thus, the exact placement of the fence presents no problem. In response to Jacobsen's inquiry regarding advertising at sporting events, Ward noted the use of portable banners by various teams, and Lindsey said that staff, using previously established District guidelines and precedent, works with organizations on an individual basis. It was moved by Lange, seconded by Holt, and carried 5-0 to authorize a seasonal permit for the 2000 Pony Baseball season to Newbury Park Pony Baseball for installation of a temporary fence subject to the conditions contained in the submitted memorandum. D. Approval Of Westlake Baseball Association Request To Install Fencing At Triunfo Park Ballfield Lindsey stated that this is an annual request, there were no reported problems last year, and she noted the Memorandum of Understanding. It was moved by Holt, seconded by Jacobsen, and carried 5-0, to authorize a seasonal permit for the 2000 baseball season to Westlake Baseball Association for installation of a temporary fence subject to conditions contained in the submitted memorandum. E. Readoption Of District's Investment Policy Jorgensen stated that it is necessary for the Board to authorize the redelegation of investment authority on an annual basis, the policy is the same as that approved last year, the policy reflects a conservative investment approach, and staff may transfer a greater share of District funds from Ventura County to the State Investment Pool (LAIF), if the investment return shifts in their favor. He recommended adoption. It was moved by Jacobsen, seconded by Holt, and carried 5-0 to readopt the District's investment policy.