HomeMy WebLinkAboutMINUTES - 01132004 - C44 TO: BOARD OF SUPERVISORS
Contra
FROM: John Sweeten, County Administrator Costa
County
DATE: January 13, 2004 C I
SUBJECT: DELEGATION OF INVESTMENT AUTHORITY TO THE COUNTY TREASURER
Specific Request(s) or Recommendation(s) & Background & 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 53507 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. It is recommended that this delegation be renewed through the calendar year 2004.
Continued on Attachment:_YES Signature:
...--- Recommendation of County Administrator Recommendation of Board Committee
-Approve Other
/"�
Signature(s): i
Action of Board or 3y 13, APproved as Recommended X Other
Vote of Supervisors: I HEREBY CERTIFY THAT THIS Is A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
R Unanimous (Absent IV ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN.
Absent: Abstain:
Contact:Tony Enea (335-1094) Attested: imwry 13 2004
cc: Treasurer-Tax Collector John Sweeten. Clerk of
the Board of Supervisors
and County Administrator
By.. `J(DEPUTY
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