|
|
|
|
COUNTY OF SAN MATEOInter-Departmental Correspondence |
Treasurer-Tax Collector |
| |
DATE: |
October 6, 2003 |
BOARD MEETING DATE: |
October 21, 2003 |
| |
TO: |
Honorable Board of Supervisors |
FROM: |
Lee Buffington, Treasurer-Tax Collector |
SUBJECT: |
RESOLUTION AUTHORIZING INVESTMENT OF COUNTY MONIES IN THE LOCAL AGENCY INVESTMENT FUND (LAIF) |
| |
Recommendation |
Renew a resolution authorizing investment of County monies in the Local Agency Investment Fund (LAIF) in the State Treasury for the deposit of money, of a local agency, for purposes of investment by the State Treasurer pursuant to Chapter 730 of the statutes of 1976, Section 16429.1. The current County officers in the Treasurer's Office, or their successors, shall be authorized to order the deposit or withdrawal of monies in the Local Agency Investment Fund (LAIF). |
| |
Background |
On January 11, 1977, the Board of Supervisors adopted Resolution No. 36852, (Exhibit A") approving the deposit and withdrawal of County monies in the Local Agency Investment Fund (LAIF) in accordance with the provision of Section 16429.1 of the Government Code for the purpose of investment by the State Treasurer. |
| |
Discussion |
It has been 26 years since Resolution No. 36852, was adopted on January 11, 1977, authorizing investment of County monies in the Local Agency Investment Fund (LAIF). A renewal of this Resolution is once again requested by the State Treasurer's Office. |
| |
Vision Alignment |
This resolution keeps the commitment of responsive, effective and collaborative government through goal number 20: Government decisions are based on careful consideration of future impact, rather than temporary relief or immediate gain. |
| |
Fiscal Impact |
None |