HomeMy WebLinkAbout9 District Treasurer Agenda Item # g
TRUCKEE DONNER
Public Utility District
CONSENT
To: Board of Directors
From: Mary Chapman
Date: February 04, 2009
Subject: Appoint Treasurer of the District for Purposes of Investment
1. WHY THIS MATTER IS BEFORE THE BOARD
Only the Board can appoint the Treasurer to perform investments for FY09.
2. HISTORY
At the January 7, 2009 Board meeting, staff reviewed Section 3.20 Investments with
the Board of Directors. Since the Board had made minor changes to the policy in July,
2008, no further changes were proposed.
Section 53607 of the Government Code states:
"The authority of the legislative body to invest or to reinvest funds of a local agency, or
to sell or exchange securities so purchased, may be delegated for a one-year period
by the legislative body to the treasurer of the local agency, who shall thereafter
assume full responsibility for those transactions until the delegation of authority is
revoked or expires, and shall make a monthly report of those transactions to the
legislative body. Subject to review, the legislative body may renew the delegation of
authority pursuant to this section each year."
On December 19, 2007, the Board authorized the Treasurer to invest District funds for
FY08. The Board now needs to make the delegation for FY09.
3. NEW INFORMATION
There is no new information.
4. FISCAL IMPACT
There is no fiscal impact with this delegation.
5. RECOMMENDATION
Approve the attached resolution authorizing Mary Chapman, District Treasurer, to
perform investments of District funds pursuant to District Code 3.20 for FY09.
1� Ck" �?N - - .7;8 Mary Chap n �Michael
Administrative Services Manager General Manager
rTRUCKEE DONNER
Public Utility Dlst6ct
Resolution No. 2009 -
AUTHORIZING THE DISTRICT TREASURER
TO INVEST DISTRICT FUNDS FOR FY09
WHEREAS, it is the intent of the Board of Directors that the District's investment policy be
reviewed on an annual basis; and
WHEREAS, the Board of Directors of the Truckee Donner Public Utility District last updated
its investment policy in resolution #2008-19 on July 2, 2008 along with other changes to Title
3 Finance and Accounting; and
WHEREAS, the District's investment policy was again reviewed on January 7, 2009 with no
revisions being proposed; and
WHEREAS, Section 53607 of the Government Code states that certain investment related
duties may be delegated to the Treasurer of the District for a one-year period; and
NOW THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby authorize
Mary Chapman, Treasurer to perform the duties described in Title 3.2 Investments of the
District Code for one year pursuant to Government Code Section 53607.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within
the District on February 4, 2009 by the following roll call vote:
AYES:
ABSTAIN:
NOES:
ABSENT:
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
J. Ron Hemig, President
ATTEST:
Michael D. Holley, Clerk of the Board