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Resolution No, 15-163
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RESOLUTION DISSOLVING THE TREASURY OVERSIGHT COMMITTEE AND ESTABLISHING INVESTMENT POOL
OVERSIGHT COMMITTEE
WHEREAS,the Butte County Treasury Oversight Committee (TOC) was established by Resolution 96-43 in
accordance with Government Code 27130; and
WHEREAS,the TOC served to provide oversight of the investment of public funds; and
WHEREAS,the mandate for that Committee was suspended in 2004 by the State of California; and
WHEREAS, after a review of function and cost, the TOC has recommended dissolution of the committee; and
WHEREAS, the Board, upon the committee's recommendation, has determined that current conditions support
dissolution of the TOC; and
WHEREAS,the Board desires to establish a new committee to provide oversight of the investment of public
funds while allowing for increased flexibility and reduced costs.
NOW,THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County of Butte that:
1. The Butte County Treasury Oversight Committee is hereby dissolved and Resolution 96-43 rescinded; and
2. The Butte County Investment Pool Oversight Committee is hereby established and shall consist of the
following membership:
a. A representative of the Board of Supervisors.
b. The Butte County Auditor Controller.
c. The Butte County Superintendent of Schools or his representative,
d„ A representative selected by a majority of the presiding officers of the governing bodies of the
school districts and community college districts in the county.
e. A representative selected by a majority of the presiding officers of the governing bodies of the
legislative bodies of the special districts in the county.
3. Committee meetings shall be open to the public and subject to the Ralph M. Brown Act (Chapter 9
(commencing with Section 54950) of Part 1 of Division 2 of Title 5).
PASSED AND ADOPTED by the Butte County Board of Supervisors this 10th day of November, 2015 by the following
vote:
AYES: Supervisors Connelly, Wahl, Kirk, Lambert and Chair Teeter
NOES: None
ABSENT: None ,„ \
NOT VOTING: NOB:e ,
Doug Teeter, Chair
Butte County Board of Supervisors
ATTEST:
l'aul Hahn, ii,e ,dministrative Officer
and Clerk o /.tft- Board of Supervisors