HomeMy WebLinkAboutMINUTES - 01112005 - C.55 TO: BOARD OF SUPERVISORS CONTRA
FROM: John Sweeten - COSTA
County Administrator COUNTY
DATE: JANUARY 11, 2005
SUBJECT: Delegation of Investment Authority to the County Treasurer
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
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:
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 he renewed through
the calendar year 2005.
CONTINUED ON ATTACHMENT: _YIi SIGNATURE: -y 4t
,.•ACOMMENDATION OF COUNTY ADMINISTRATOR—RECOMMENDATION OF BOARD COMMITTEE
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OTHER
SIGNATURE(S):
ACTION OF BOAK0 O : '" i' rl ,c'a APPROVED AS RECOMMENDED�,! R
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VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS{ABSENT 1 TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED
ABSENT: ABSTAIN: ON MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Contact: Laura Strobel 5-1099
CC: County Administrator ATTESTED
Treasurer-Tax Collector JOHN SWEETEN,CLERK OEµ
THE BOARD OF SUPERVISORS
AND COUtyp(Y ADMINISTRATOR
BYrDUTY
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