HomeMy WebLinkAboutRESOLUTIONS - 02261991 - 91-143 x--099
IN THE BOARD OF SUPERVISORS
OF
CONTRA COSTA COUNTY, STATE OF CALIFORNIA
Adopted this Resolution on February 26 , 1991, by the following
vote:
AYES: Supervisors Fanden, Schroder, McPeak, Torlakson, Powers
NOES: None
ABSENT: None
RESOLUTION NO. 91/ 143
SUBJECT: Authorizing Participation in the California Arbitrage
Management Trust Joint Exercise of Powers Agency and
Execution of the Declaration of Trust
0
The Board of Supervisors of Contra Costa County
Resolves That:
WHEREAS, Section 6502 of Title 1 , Division 7 Chapter 5 of the
Government Code of the State of California (The Joint Exercise of
Powers Act) provides that, if authorized by their legislative or
other governing bodies, two or more public agencies by agreement
may jointly exercise any power common to the contracting parties;
and
WHEREAS, under Section 6500 of the Joint Exercise of Powers Act a
"Public Agency" includes but is not limited to any California
County, county board of education, county superintendent of
school, city, city and county, public corporation, public
district, regional transportation commission or state department
or agency; and
WHEREAS, public agencies which constitute local agencies, as that
term is defined in Section 53630 of Title 5, Division 2, Part 1 ,
Chapter 4, Article 2 of the Government Code of the State of
California, are authorized pursuant to Section 53635 thereof to
invest all money belonging to, or in the custody of, the local
agency in certain specified investments; and
WHEREAS, the California Arbitrage Management Trust (the "Trust" )
was established, pursuant to and in accordance with the Joint
Exercise of Powers Act, by a Declaration of Trust, make as of
December 15, 1989 (the "Declaration of Trust" ) by Monterey
Peninsula Water Management District and Placer County, as the
initial Participants, as a vehicle for public agencies to jointly
exercise their common power to invest bond proceeds, and to
secure related record keeping, custodial and Federal arbitrage
rebate calculation services; and
WHEREAS, pursuant to and in accordance with the Joint Exercise of
Powers Act, the County desires to join the other public agencies
which are or will be Participants of the Trust by adopting and
executing the Declaration of Trust, a form which has been
presented to this meeting; and
WHEREAS, the County is public agency as that term is defined in
the Joint Exercise of Powers Act; and
WHEREAS, there has been presented to this meeting an Information
Statement describing the Trust and the Individual Portfolios to
be managed by the Investment Adviser to the Trust (the
"Information Statement" ) ;
RESOLUTION N0. 91/143