CER 23-0260 — Office of the Chief Financial Officer Responsible Investments Recognition Resolution of 2020

eENROLLED DORIGINAL e r r — u Councilmember Grosso n H s e A PROPOSED RESOLUTION C23-260 IN THE COUNCIL OF THE DISTRICT OF COLUMBIA ToreogiethtteDsrctfColumbificefteChefFnncalffcrforepnsbyMarch gnvilncendwarrftern.sinesmetsnamanneratoesotpretae3, WHEREAS,2020 To recognize that the DistrictofColumbiaDistrict paidof $6.5Columbia billionOffice of the Chief Financial Officer for responsibly managing the District of Columbia’s investments in federala taxesmanner in2017;that does not perpetuate gun violence and war profiteering.

WHEREAS,heitictfClubi’sttlanulbugetslrertan5stts,ndinWHEREAS, iclyar2020tled1.38ilo,inldig$857ilinfomlclfud,butniketts,the ititofColumbidetsreubettoCnresinlreie:District of Columbia paid $6.5 billion in federal taxes in 2017;

WHEREAS,eDititofColumbasanstmaedoplainof75,49asf209,WHEREAS, agrtantwotts,uthsnovtngrpesnaionnteUntedtteseaterteUntedthe ttsHoueofepeenaivs:District of Columbia’s total annual budget is larger than 15 states, and in fiscal year 2020 totaled $15.38 billion, including $8.57 billion from local funds, but unlike states, District of Columbia budgets are subject to Congressional review;

noer117ilindetsanddheniedSaeshssentver56trlononarsesligWHEREAS, slcigmorehn101milonpole;the District of Columbia has an estimated population of 705,749 as of 2019, larger than two states, but has no voting representation in the United States Senate or the United States House of Representatives;

WHEREAS,heotofUS.dmetcWHEREAS, ndfrigniitrs,inldigvteas’far,since omlad2001, euiy,adlawefrcmetandicreato,toped818ilinin07,andthe acoutedor4United ecetffdealdsceinayseningn206,tatiewhenfdrlfudsStates areepeaelyeeedinrertouldffrabehosngimroepulctast,nddeeophas sutinbeenrgyorcs;spent over $5.6 trillion on wars resulting in over 1.17 million deaths and displacing more than 10.1 million people;

WHEREAS,heniedSaesrminshemstmltaiedatonntheold,ithaWHEREAS, miiaybugetratrtantenxtegtcunrescmbne:anetiatd800iitryassthe 4)cost andsainsnovr70cutresrondtewol;andamspodcestatomnaed56.6%fof thehrefmajorlblarmsaesn205;U.S.

Bdomestic and Russia,foreign continuemilitarism, including veterans’ affairs, homeland security, and law enforcement and incarceration, topped $818 billion in 2017, and accounted for 64 percent of federal discretionary spending in 2016, at a time when federal funds are desperately needed in order to posebuild anaffordable intolerablehousing threatimprove tohumanity;public transit, and develop sustainable energy sources;

andWHEREAS, detonationthe ofevenUnited aStates smallremains fracofthe thesemost weaponsmilitarized wouldnation disruptin the globalworld, climatewith anda agriculturalmilitary productionbudget sogreater eerlyhttereutngfaminoldpttelvsofmorehntwoilonpeopltik;than the next eight countries combined;

WHEREAS,heniedSaessposdtosend1.7rlindlasovrtenettreean decdstominanandmodemizsnclarbombsdwaheds;hesbmrne,mislsestimated andbmbestoelvrthm;adthenrsrutreosstinheucereneprseneiiel,800 hihmanyeprtseieeatalyicraesherskfnclarrlieain;ucearerrsm;military bases and stations in over 70 countries around the world;

ndnceararbyacdnt,icaclainoritn,ataiewhenncla-amedoutisareand aleayontebinofiitrycnrottin;arms producers that dominated 56.6% of the share of major global arms sales in 2015;

WHEREAS,nesigincmpnisprduingheucearndcnenioalweapontaWHEREAS, theotsoUS.miiarsmmpiilyupotstisidietinfourtxdlar;nearly 15,000 nuclear weapons worldwide, largely held by the United States and Russia, continue to pose an intolerable threat to humanity;

WHEREAS,manymajorarrdcesdependoheedrlgovernmesterand primaryconsumeethusdependentuponperpetuoiialntblt,andthedetonation prioritizationofmilitarismof overeven diplomacy;a small ENROLLED ORIGINAL fraction of these weapons would disrupt the global climate and agricultural production so severely that the resulting famine could put the lives of more than two billion people at risk;

6BWHEREAS, WHEREAS,.S.weaponnuacuersoniuetouplyepesiereiesarudthe heord,ndU..prduedweaponreeigusdinttcstatheitraioalcommunityUnited deemsnlwulfrterdspoorinaeandxesiveharociiin;States is poised to spend $1.7 trillion dollars over the next three decades to maintain and modernize its nuclear bombs and warheads;

WHEREAS,the billionsofdollarssubmarines, worthmissiles ofmilitary-gradeand equipmentbombers has been transferred to localpodepartmentdeliver inourthem; communitdisproportionate targeting ofcommunities ofclrandperpetuaautrefviolenhsiiy,anfa;

nand evlpedord,asiiingunanfatuescotiueorepenormouoftsffhethe Binfrastructure necssrybooshdinursresandhome;to sustain the nuclear enterprise indefinitely, which many experts believe actually increases the risk of nuclear proliferation;

"4nuclear WHEREAS,nSepemer1,203,ahotrterrorism; armeih a9mmsm-atoaic weapanda1-gugehogn aalyht 2pepe anijrd heethrstte asintonNavyad,inheititofClubi;

i)and WHEREAS,frothbegingof201throuthenof2019thewer19,40gunnuclear crimeithDistrofColumbwit51%ofthoguncrimconcentriWard7war an8;by accident, miscalculation or intent, at a time when nuclear-armed countries are already on the brink of military confrontation;

82 WHEREAS, in2019investing thein Councilofthecompanies DistrictofColumbiaproducing made an inquiry with the innilinvestmenweaponsmanufacobeginconversationsregardingdivestmentfColumbianuclear hasand anyconventional fromweapons at the weaponsroots industry;of U.S.

WHEREAS,heOfceofhehefFnncalOfcer(OCFOadaradyonucedtsmilitarism ownnlyisnpiedyaprsseortnery218implicitly oudesandhatepsuesteDsrctfsupports Columbidtoweaponnuatuer;this misdirection of our tax dollars;

WHEREAS,heOCFOfundhttheititofColumbadnodrctnvsmetsWHEREAS, ncuingeerlfudoresrefudinetmntsnweaponaufcurr,whihcotnusmany otisay;major arms producers depend on the federal government as their primary consumer and are thus dependent upon perpetual warfare, political instability, and the prioritization of militarism over diplomacy;

WHEREAS,heOCFOdsevstobeecgizdfrtiscmmedalemangeentofWHEREAS, heDsrctfCoumiasfnncalotoi,andheCunilecorgesheOCFOtootiueU.S. omangetepblcsfnacsandnvstnscalyrsonilecmpnes,nusre,frs, adfud;and WHEREAS,heDsrctfColumbisproucd24cnectiebaacedudes,ad uretyhodsaGnralblgtinBondaingfAAA romMod’s,ndanIcoeTax ScuedRveueBondaigofAAA romtadrdadPors,dmosraingxeplry iclgoerace;

RESOLVED,weapons BYmanufacturers THEcontinue COUNCILto OFsupply THErepressive DISTRICTregimes OFaround COLUMBIAthe thatthisworld, resolutionand mayU.S.-produced beweapons citedasare being used in attacks that the “Officeoftheinternational Chiefcommunity Financialdeems Officerunlawful Responsiblefor Investmentstheir Recognitiondisproportionate Resolutionand of2020”.excessive harm to civilians;

WHEREAS, billions of dollars worth of military-grade equipment has been transferred to local police department in our communities, aiding the disproportionate targeting of communities of color and perpetuating a culture of violence, hostility, and fear;

WHEREAS, the rate of mass shootings in America is the highest anywhere in the developed world, as civilian gun manufacturers continue to reap enormous profits off unnecessary bloodshed in our streets and home;

WHEREAS, on September 16, 2013, a shooter armed with a 9mm semi-automatic weapon and a 12-gauge shotgun fatally shot 12 people and injured three others at the Washington Navy Yard, in the District of Columbia;

WHEREAS, from the beginning of 2010 through the end of 2019, there were 19,408 gun crimes in the District of Columbia, with 51% of those gun crimes concentrated in Wards 7 and 8;

ENROLLED ORIGINAL WHEREAS, in 2019 the Council of the District of Columbia made an inquiry with the Office of the Chief Financial Officer regarding whether the District of Columbia has any financial investments in weapons manufacturers to begin conversations regarding divestment from the weapons industry;

WHEREAS, the Office of the Chief Financial Officer (OCFO) had already conducted its own analysis inspired by a press report in early 2018 to understand what exposures the District of Columbia had to weapons manufacturers;

WHEREAS, the OCFO found that the District of Columbia had no direct investments including general fund or reserve fund investments in weapons manufacturers, which continues to this day;

WHEREAS, the OCFO deserves to be recognized for this commendable management of the District of Columbia’s financial portfolio, and the Council encourages the OCFO to continue to manage the public’s finances and invest in socially responsible companies, industries, firms, and funds;

and WHEREAS, the District of Columbia has produced 24 consecutive balanced budgets, and currently holds a General Obligation Bond rating of AAA from Moody’s, and an Income Tax Secured Revenue Bond rating of AAA from Standard and Poor’s, demonstrating exemplary fiscal governance.

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA that this resolution may be cited as the “Office of the Chief Financial Officer Recognition for Responsible Investments Resolution of 2020”.

The2. Councilof the DistrictofColumbia recognizes the Officeof the Chief Financial Officer forresponsibly managing the DistrictofColumbia’s investments ina manner Wd thatdoes notperpetuategun violenceand war profiteering.

Sc.3.hsreouionhlThe aeefctimeiaeyuponheistaefpblcaionnCouncil teDsrctfColumbigitr.of the District of Columbia recognizes the Office of the Chief Financial Officer for responsibly managing the District of Columbia’s investments in a manner that does not perpetuate gun violence and war profiteering.

Sec.

3.

This resolution shall take effect immediately upon the first date of publication in the District of Columbia Register.