HomeMy WebLinkAboutMINUTES - 12062005 - C132 ...........
TO: BOARD OF SUPERVISORS Contra
AA
FROM: John Sweeten, County Administrator "'11 Costa
DATE: December 6, 2005 _u- County
SUBJECT: Delegation of Investment Authority to the County Treasurer
SPECIFIC REQUEST(S)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.
BACKGROUND/REASON (S) FOR RECOMMENDATION (S):
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 2006.
WJP:mb
001
CONTINUED ON ATTACHMENT: YES SIGNATURE:
aw RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOA6D C
APPROVED AS RECOMMENDED 0,T44fR
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF
IV UNANIMOUS(ABSENT THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
AYES: NOES:
ABSENT: ABSTAIN:
Contact:
Cc: Treasurer-Tax Collector's Office ATTESTED
JOHN SWEETEN,CLERK OF THE BOARD OFSUPERVISORS
AND COUNTY ADMINISTRATOR
BY: DEPUTY