HomeMy WebLinkAboutMINUTES - 12092008 - C.103 6 E-•_L
TO: BOARD OF SUPERVISORS • °� Contra
FROM: DAVID TWA, COUNTY ADMINISTRATOR Costa
AlVA '4
DATE: December 9 2008 ,�s
County
'1 COUK
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 provided 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 one year
period. It is recommended that this delegation be renewed through the calendar year 2009.
CONTINUED ON ATTACHMENT: ❑ YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR LZY RECOMMENDATION OF BOARD COMMITTEE ❑
APPROVE 110 R \
SIGNATURE(S): /� �/
A ON OF BOARD ON eCf-
AIPPROVED AS RECOMMENDED ❑ OTHER
VOTE OF SUPERVISORS: I HEREBY CERTIFY THAT THIS IS A TRUE AND
/ CORRECT COPY OF AN ACTION TAKEN AND
Y UNANIMOUS (ABSENT ) ENTERED ON THE MINUTES OF THE BOARD OF
AYES: NOES: SUPERVISORS ON THE DATE SHOWN.
ABSENT: ABSTAIN: ATTESTED: N Ce���, fes„,„l J,00%
�V� �
Contact: Brice Bins (957-2850) DAVID TWA, CLERWOF THE BOARD
OF SUPERVISORS AND COUNTY
cc: Treasurer-Tax Collector's Office ADMINISTRATOR
A
By: Deputy