Lassen County Municipal Code Ch. 3.12 Delegation of Investment Authority

(a) Pursuant to Government Code Sections 27000.1 and 53607, the board of supervisors delegates its authority to the county treasurer-tax collector to invest and reinvest the funds of the county and the funds of other depositors in the county treasury, pursuant to Chapter 4 (commencing with Section 53600) of Part 1 of Division 2 of Title 5 of the Government Code. This delegation may be revoked at any time by the board by enacting an ordinance to that effect.

(b) Unless renewed, this delegation of investment authority by the board of supervisors to the county treasurer-tax collector will expire on July 1, 2000. If the delegation is not renewed investment authority over all funds of the county and funds of other depositors in the county treasury (other than funds deposited in the county treasury by local agencies other than the county and at the discretion of those local agencies) shall be exercised by the board of supervisors.

(c) The county treasurer/tax collector shall present the year 2000 proposed statement of investment policy to the board of supervisors, together with the recommendations and comments of the treasury oversight committee, on or before July 1, 2000, and annually thereafter.

(d) Any delegation or renewal hereunder shall not exceed a one-year period for any single delegation or renewal.

(Ord. 540 § 2, 1999)