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TO BOAR® OF SUPERVISORS ;; °.'� Contra
FROM: John Sweeten w f>� Costa
DATE: January 8, 2002 county
SUBJECT: DELEGATION OF INVESTMENT AUTHORITY TO THE COUNTY
TREASURER
SPECIFIC REQUEST($)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION';
APPROVE the delegation of authority to the County Treasurer for investing and
reinvesting County funds and the funds of other depositors in the County treasury, or to
sell or exchange securities so purchased, pursuant to section 53607 of the State
Government Code.
BACKGROUNDIREASON S FOR RECOMMENDATION S
State law provides that the Burd 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. This Board Order recommends this
delegation be renewed through the calendar year 2002.
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CONTINUED t7AI ATTACHMENT. YI~ SIGNATURE: t
RECOMMENDATION OF COtJ W— MINISTRATOR'- RECOMMElS[ ATIOI+I OF OARD COA MITTEE
APPROVE OTTER
SIGMTURE S
ACTION OF BOARD ON 1 f 1r APPROVEDAS RECOMMENDED OTHER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF
UNANIMOUS'(ABSENT
THE BOARD OF SUPERVISORS ON THE[TATE SHOWN.
�,.
AYES: NOES'
ABSENT: .._._._..... ABSTAIN:
Contact:
Cc: Treasurer-Tax Collector's OMce ATTESTED J LL-A-U
JOHN SWEETEN,CLERK OF T E BOARD'`OFSUPERVISORS
l AND COUNTY ADMINISTRATOR
BY: I✓ ' DEPUTY