ORDINANCE NO._______________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO,

STATE OF CALIFORNIA

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INTRODUCTION OF AN ORDINANCE ADDING SECTION 2.91.040 TO TITLE 2, ARTICLE 2.9, CHAPTER 2.91 OF THE SAN MATEO COUNTY ORDINANCE CODE DELEGATING INVESTMENT AUTHORITY TO THE COUNTY TREASURER SUBJECT TO ANNUAL RENEWAL AND WAIVER OF READING THE ORDINANCE IN ITS ENTIRETY

The Board of Supervisors of the County of San Mateo, State of California, ORDAINS as follows:

SECTION 1. Section 2.91.040 is hereby added to Title 2, Article 2.9, Chapter 2.91 of the San Mateo Ordinance Code and shall read as follows:

SECTION 2.91.040. INVESTMENT OF FUNDS. The County Treasurer (Treasurer-Tax Collector) is delegated the authority to invest or reinvest the funds of the County and the funds of other depositors in the County Treasury for the entirety of calendar year 2011, pursuant to Chapter 4 (commencing with Section 53600) of Part 1 of Division 2 of Title 5 of the California Government Code. This delegation is subject to annual renewal by the Board of Supervisors for each subsequent year, pursuant to Section 53607 of the California Government Code.

SECTION 2. This ordinance shall take effect thirty days after its final adoption by the Board of Supervisors.