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Minutes 1-18-96 Page 2 Gillette suggested, with Board concurrence, that Item 8.B. be considered first. 8- B. Readoption Of District's Investment Policy Jorgensen reierencea the aocumentation, including the handout regarding the new investment laws and a report from the Treasurer of the State of California. He reviewed the District's investment policy, noting that security and availability take precedent over the rate of return. In response to Holt's inquiry, Jorgensen said that the conservative philosophies of the State and County investment pools are consistent with the District's, and the District does not invest directly because of the FSLIC protection limit and the large amount of District funds to be invested. Lange said he appreciates the reports, the conservative approach, and the constant scrutiny of the staff. Gillette concurred. It was moved by Holt, seconded by Lange, and carried unanimously 3-0, with Berger and Jacobsen abstaining, to readopt the District's investment policy. 7. DEFERRED MATTERS A. Public Hearing To Consider Master Plan For Rancho Conejo Playfield Gillette opened the public hearing to consider the Master Plan for Rancho Conejo Playfield. Sorensen presented a brief review of the design and development of the playfield, the requirements placed on Shapell Industries, and input from the Rancho Conejo Village Community Association. Using maps, he identified elements of the proposed Master Plan, development zones, and surrounding landmarks. He identified components of the three development phases, and discussed the differences between the proposed Master Plan and the homeowners' association outline; i.e., the homeowners' request for no parking lot construction in Phase 1 and an additional basketball court in Phase 2. He discussed parking issues and trail access in the area, and answered questions.