TO: BOARD OF SUPERVISORS
FROM: County Counsel and Auditor-Controller Treasurer-Tax Collector
MEETING DATE: February 6, 2024
DEPARTMENT CONTACT:
County Counsel
PHONE:
707-234-6885
DEPARTMENT CONTACT:
Sara Pierce, Acting A-C/T-TC
PHONE:
707-234-6860
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Adoption of an Ordinance Delegating Authority to Invest or Reinvest the Funds of the County and its Other Depositors in the County Treasury to the Treasurer for Calendar Year 2024
End
RECOMMENDED ACTION/MOTION:
recommendation
Adopt Ordinance delegating authority to invest or reinvest the funds of the County and its other depositors in the County Treasury to the Treasurer for calendar year 2024; and authorize Chair to sign same.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
Presented annually; last presented January 24, 2023, Item #4d. On January 23, 2024, the Board introduced and waived the first reading of the ordinance.
SUMMARY OF REQUEST:
This item provides for the annual review and authorization of the delegated authority of the Board of Supervisors to the County Treasurer to invest and reinvest funds as provided for in Mendocino County Code section 5.130.010. Pursuant to California Government Code section 53607, the Board must annually delegate the authority to invest or reinvest the funds of the County and the funds of other depositors in the County Treasury. As a result, it is necessary to adopt an ordinance for the calendar year 2024, amending section 5.130.010 adopted for the calendar year 2023, delegating this authority to the Treasurer.
ALTERNATIVE ACTION/MOTION:
Do not adopt and provide direction on investment of County funds.
STRATEGIC PLAN PRIORITY DESIGNATION: An Effective County Government
SUPERVISORIAL DISTRICT: ALL
VOTE REQUIREMENT: Majority
SUPPLEMENTAL INFORMATION AVAILABLE ONLINE AT: N/A
FISCAL DETAILS:
SOURCE OF FUNDING: N/A
CURRENT F/Y COST: N/A
ANNUAL RECURRING COST: ...
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