HomeMy WebLinkAbout78-009WHEREAS, pursuant to §53607 of the Government Code, the
Board of Supervisors may delegate ~o the treasurer ~he autho~i~y
to invest or to reinvest the funds of the county or to sell or
exchange se~urities purchased by said funds; and
ti~IERE.AS, puxsuan.~ to §53608 0~ the Gavernmene Code, ~h.e
Board of Supervisors may delegate to the treasurer the authority
to degosit fo~' safe lceepix~g wi~h a~rus~ company or st~te or
national bank evidences of indebtedness in which the funds of the
county were invesred.
NOW, THEREFORE, BE IT R~SOLVE- by the Board o~ Supervi.sors
o~' the Coun~y' of ~utCe ~hat:
1. The ~reas~rer is authorized to invest or reinvest
county ~unds and Co se11 or exchange securities purchased by county
funds. ~he ~reasurer shall make a monthly report of such transactions
to the Board of Supervisors,
2. Tha ~zeasurer is authorized to deposit for safe
keeping with a ti~'us~C company or a state or national bank located
within this state or with the ~'ederal. Reserve Bank of San Francisco
ox any branch thereof withi~n ~k~e state or ~rith any fed.eral reserve
bank or with any state oz na~~onal located in any city designated
as a reserve city by Che Board of Governors of the Federal Reserve
System, the bonds, notes, bills, debentures, obligations, certificates
of indebtedness, warrants or o~her evidences of indebtedness in
which the funds o£ ~Che county is invested. 'The treasurer sha11 take
from such bank or trust company a receipt for the securities deposd:~Ced.
The treasurer Snaii not be responsible for securities delivered to
RESOLUTIdN DELEGATING AUTHOI2ITY TO TREASURER TO INVEST
OR REINVEST COUNTY FUNDS OR TO SELL OR EXGHANGE
SECUR~'~IES PURCHASED SY INVESTMENT AND 'TO DEPOSIT IN
TEtUST COMPANIES OR BANKS THE EVIDENCES OF INDEBTEDNESS
IN WHICH THE FUNDS OF THE COUDTI`Y T~AVE BEEN INV~S'~~D
and receipted for by a bank or trus~ company vntil:_they are with-
drawn from the bank or trust company by the ~reasurer.
PASSED AND AbOPTED by the Board o£ Supervisors of the
County of Butte this 17th day - ---~ - ~
foll~wing vote:
AYES: supervisors Lerake
NOES : None
ASSENT: None
N0~ V~TIIVG: None
ATTEST:
CLARK A. NELSON, County Clerk and
ex-offi~ca.o Clerk of the Board
~y C~C~' c ~~~.~/,,.`_
cc:
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2.
Board of Supervisors