HomeMy WebLinkAboutMINUTES - 06181985 - 1.67 TO: BOARD OF SUPERVISORS i #
FROM: Phil Batchelor, County Administrator Cwtra
Casty
DATE: June 7, 1985 Court/
SUBJECT: Report 'of county Treasurer-Tax Collector on Investments of
County Funds with Banks Doing Business in South Africa
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
Acknowledge receipt of report dated June 5, 1985, submitted by the County
Treasurer-Tax Collector in response to Board referral advising that the
Government Code does not allow for investment of county funds in
corporate stocks or bonds, and that county investments are of such
short-term maturity that use of county funds in South Africa is nearly
impossible.
BACKGROUND
On May 21, 1985, on the recommendation of Supervisor Tom Torlakson, the
Board referred to the County Administrator and the Tax Collector for
review and report back to the Board the matter of how the county's tax
dollars are invested. At issue is whether county funds are indirectly
supporting apartheid in South Africa. The response of the Treasurer-Tax
Collector indicates that this is not a concern.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION OF BOARD ON June , APPROVED AS RECOMMENDED OTHER -
VOTE OF SUPERVISORS
11_ UNANIMOUS (ABSENT ) 1 HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
CC: County" Administrator ATTESTED 00,
j3j ,
Treasurer-Tax Collector J Pail Batrhelor, Clerk of the Board of
Supervisors and County Ad;-ninistrator )
M382/7-83 BY DEPUTY