The Great White North has weathered the Great Recession very well.
Not engaging in the same high-risk real estate ventures that plagued local and large banks with toxic debt, Canada's fiscal infrastructure has rebounded from the economic malaise that is still slowing the ever ponderous recovery around the world.
Perhaps the Canadian model would be an excellent venue for Hermosa Beach City's cash reserves. A stable depository in a reputable country enjoying adequate economic growth is exactly what local governments in crisis need.