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Oakland Divests from Manufacturers of Firearms, Ammunition

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This press release is from the Office of Oakland City Council President Rebecca Kaplan. 

OAKLAND, CA  Mar 5, 2013 – The Oakland City Council unanimously passed a resolution Tuesday night that divests the city from making investments in the manufacturers of firearms or ammunition.

Council President Pro Tem Rebecca Kaplan (At Large), City Attorney Barbara Parker and Vice Mayor Larry Reid (District 7) co-authored the measure as part of the city’s ongoing effort to reduce gun violence.

“There is a well-funded corporate effort pushing against our work to stop gun violence,” Kaplan said.  “And Oakland is now formally part of a national movement that includes cities like Chicago and Los Angeles – communities committed to stopping so many tragedies that take place at the hands of a gun.”

With its passage, the resolution does the following:
·         Declares a city policy prohibiting the City of Oakland from holding any investment or ownership stake in any manufacturer of firearms or ammunition
·         Directs the City Administrator to examine the city's holdings and future investments to assure that the city complies with this city policy
·         Urges the Police And Fire Retirement System Board and the Oakland Municipal Employees Retirement System Board to adopt a similar policy
·         Urges other state and local jurisdictions to prohibit investment of their public funds in manufacturers of firearms or ammunition

The measure was amended, at the request of Councilmember Dan Kalb (District 1) to also include divestment from companies that manufacture ammunition.

The divestment comes on the heels of recent city action to beef up the size of its police force, as well as the city’s action to endorse the renewal of a federal ban on assault weapons and signed on to support state legislation to regulate ammunition sales.

“City officials and local law enforcement are fully committed to going after illegal guns on our streets,” Kaplan said.  “And by taking action here to send a message to weapons manufacturers, Oakland is showing its commitment to big-picture efforts to reduce gun violence here and in communities across America.”

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