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Gainesville City Commission approves resolution calling for divestment of holdings in Russian and Belarusian securities

BY JENNIFER CABRERA

At their March 17 meeting, the Gainesville City Commission passed a resolution calling for divestment of holdings in Russian and Belarusian securities and denouncing the war in Ukraine.

The resolution requested the Boards of Trustees for the City of Gainesville Employees Pension Plan and Fund, the Retiree Health Insurance Trust Fund, and the City of Gainesville Police Officers and Firefighters Consolidated Retirement Plan to divest of any current holdings in Russian or Belarusian securities and consider a new operating fund investment policy opposed to future investment of City funds in Russian or Belarusian securities. 

The resolution denounces the invasion and war in Ukraine and welcomes refugees “from the conflict in Ukraine and all other conflicts.” It also “reaffirms the City of Gainesville’s sister city relationship with Novorossiysk, Russia in recognition of the importance of cultural exchange and diplomacy between countries.”

No members of the public offered any public comment, and other than a brief statement from Mayor Lauren Poe thanking the Finance Committee (made up of Commissioners Adrian Hayes-Santos, Harvey Ward, and Reina Saco) for bringing the resolution forward, there was no discussion before the resolution was approved on a unanimous roll-call vote.

The Pension Review Committee will discuss their response to the resolution at their meeting tomorrow at 9:00 a.m.

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