Item Coversheet

Item Number: 12.



MEETING DATE:  2/9/2016

DEPARTMENT: TREASURER/TAX COLLECTOR

DEPT HEAD/DIRECTOR: Mary Lou Andrade

AGENDA ITEM PREPARER: Mary Lou Andrade

SBC DEPT FILE NUMBER: 685.2

SUBJECT:

TREASURER/ TAX COLLECTOR - M. L. ANDRADE

Adopt Resolution delegating to the San Benito County Treasurer the authority to invest or reinvest county funds and the funds of other depositors in the County Treasury, or to sell or exchange securities so purchased, pursuant to the requirements of State Law.

SBC FILE NUMBER: 685.2

RESOLUTION NUMBER: 2016-5



AGENDA SECTION:

CONSENT AGENDA

BACKGROUND/SUMMARY:

Board adopted ordinance #689 that implemented Government Code Section 53607 providing that the Board may delegate its authority to invest and reinvest funds of the County and other depositors in the County treasury to the County Treasurer.  This ordinance passed and was adopted April 1, 1997.  Upon written resolution, the Board may renew the delegation of authority to the County Treasurer.  Treasurer respectfully requests authority from the Board.



BUDGETED:

No

SBC BUDGET LINE ITEM NUMBER:

n/a

CURRENT FY COST:

n/a

STAFF RECOMMENDATION:

Adopt the attached resolution delegating authority to the County Treasurer to invest and reinvest county funds and other depositors’ funds in the county treasury or to sell or exchange securities so purchased, pursuant to the requirement of state law.



ADDITIONAL PERSONNEL: No

BOARD ACTION RESULTS:

Adopted Resolution No. 2016-5 delegating authority to the County Treasurer to invest and reinvest county funds and other depositors’ funds in the county treasury or to sell or exchange securities so purchased, pursuant to the requirement of state law.

Approved per staff recommendation. (5/0 vote)

ATTACHMENTS:
DescriptionUpload DateType
resolution1/26/2016Resolution Letter