HomeMy WebLinkAbout#7 Appoint Treasurer Agenda Item # 7
1r400TRUCKEE DONNER
PUblic Utility District
CONSENT
To: Board of Directors
From: Mary Chapman
Date: December 16, 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 FY10.
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. At this time, no changes are being 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."
3. NEW INFORMATION
On February 4, 2009, the Board authorized Mary Chapman, District Treasurer to invest
District funds for FY09. The Board now needs to make the delegation for FY10.
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 FY10.
Mary
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Ma Cha an .� Michael D. Holley
Administrative Services Manager General Manager
111
PLiblic Utility District
Resolution No. 2009 - XX
AUTHORIZING THE DISTRICT TREASURER
TO INVEST DISTRICT FUNDS FOR FY10
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; and
WHEREAS, the District's investment policy was again reviewed on January 7, 2009 with no
revisions being proposed; and
WHEREAS, no revisions to the District's investment policy Title 3.20 are being proposed at
this time; 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 3.20 Investments of the
District Code for FY10 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 by the following roll call vote:
AYES:
ABSTAIN:
NOES:
ABSENT:
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
Jeff Bender, President
ATTEST:
Michael D. Holley, Clerk of the Board