Kodiak's two council members on the city investment committee are both leaving the council

Kodiak City Council member Annika Woods reminded colleagues Thursday that she and Bob Stanford, who are both leaving the council, hold both council seats on the city's investment committee.

The committee oversees investment of all city funds, and the two council members hold two of its five votes. A city work session packet lists the managed portfolio at $48.5 million in August. The mayor appoints replacements, subject to council approval.

"Bob's put a ton of work into that. I can't claim any credit on that at all," Woods said. She asked the council to keep the committee's momentum going.

Woods' departure also opens the council seat on the local emergency planning committee, which she said has had trouble making quorum.

Former council member John Whiddon, who said he encouraged Stanford to run, called in to credit him with turning the city's investment portfolio from losing money to making money over his two terms.

Stanford, who said he joined the council about six years ago, thanked city staff and the mayors he served with. "It has been an incredible ride," he said.

New council members take office Oct. 26, City Clerk Brandy Warnecke said.