HomeMy WebLinkAboutMINUTES - 12052006 - C.136 TO: BOARD OF SUPERVISORS ,.��, � , Contra
FROM: John Cullen, County Administrator o, „n Costa
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DATE: Dec. 5, 2006 Count�osrA covn't't cA Y
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.
FISCAL IMPACT: None
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 2007.
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CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
�— APPROVE OTHER
SIGNATURE(S):
ACTION OF BO D N 1 21pd o(l APPROVED AS 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
THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
UNANIMOUS(ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:
Contact: vPtGl�NT S EA'C
Cc: Treasurer-Tax Collector's Office ATTESTED �� C ce
JOHN CULL ERK OF THE BOARD OFSUPERVISORS
ANT CO Y AD ISTRATOR �
BY: DEPUTY