HomeMy WebLinkAboutMINUTES - 01211997 - C44 c. A14
TO: BOARD OF SUPERVISORS Contra
yr c
FROM: Costa
Phil Batchelor, County Administrator
County
DATE: January 21-1997
SUBJECT: DELEGATION OF INVESTMENT AUTHORITY TO THE COUNTY TREASURER
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
1. APPROVE the delegation of investing County funds and the funds of other depositors in the
County treasury to the County Treasurer,pursuant to section 53607 of the State Government
Code.
BACKGROUND:
State law provides that the Board of Supervisors may delegate to the County Treasurer,the authority
"to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased"for
a one year period. Last year,the Board delegated this authority to the Treasurer on January 16. This
Board order recommends this delegation be renewed through calendar year 1997.
CONTINUED ON ATTACHMENT: YES SIGNATURE: 'Jan
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE (S):
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
/ I HEREBY CERTIFY THAT THIS IS A TRUE
v UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN. r�
ATTESTED 0 L�191
Contact: PHIL ATCHELOR,6LERK OF THE BOARD OF
CC: 'treasurer-Tax Collector SUPERVISORS AND COUNTY ADMINISTRATOR
a
BY�1^� •" a�04 e DEPUTY