HomeMy WebLinkAboutOCSD 98-19RESOLUTION NO.OCSD 98-19
DESIGNATING A DISTRICT TREASURER AND AUTHORIZING
THE DISTRICT’S TREASURER AND THE ORANGE COUNTY
TREASURER/TAX COLLECTOR TO INVEST AND/OR REINVEST
DISTRICT FUNDS
A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE
COUNTY SANITATION DISTRICT DESIGNATING A DISTRICT
TREASURER AND AUTHORIZING THE DISTRICT’S
TREASURER AND THE COUNTY OF ORANGE
TREASURER/TAX COLLECTOR TO INVEST AND/OR REINVEST
DISTRICT FUNDS
The Board of Directors of Orange County Sanitation District,
DOES HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That Gary G.Streed is hereby appointed as Treasurer of the
Orange County Sanitation District.
Section 2 The authority of the Board of Directors to invest or reinvest~District
surplus funds,or to sell or exchange securities so purchased,or to deposit for
safekeeping the funds and investments of the District with depositories,as provided for
in California Government Code Sections 53608 and 53630,is hereby delegated to the
District’s Treasurer,as authorized by California Government Code Section 53607.
Section 3 The District’s Treasurer is authorized to direct that the Dist~ict’s
surplus funds,or any portion thereof,be deposited into the care,custody,and control
of the Treasurer/Tax Collector of the County of Orange,for purposes of investment or
reinvestment,pursuant to California Government Code Section 53684.
Section 4 That the Treasurer/Tax Collector of the County of Orange (County
Treasurer)be and is hereby authorized and directed to invest or to reinvest all funds
belonging to the Districts,which have been transferred to the County Treasureç,in
those instruments as authorized by California Government Code Section 53601 and/or
in deposits with depositories,as authorized by California Government Code Seption
53635.The County Treasurer is further authorized and directed to sell or exchange
securities so purchased and to terminate or renew deposits so made.Each of these
authorizations is to continue until the further order of the Board of Directors of the
District or the District’s Treasurer.
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Section 5 That these investments,deposits,sales of investments,
termination,or renewal of deposits are to be made by the District’s Treasurer and
Treasurer/Tax Collector of the County of Orange only after consultation with and
direction by the General Manager of the Districts,or his designee.
Section 6 That the District’s Treasurer and Treasurer/Tax Collector of the
County of Orange,upon confirmation by the General Manager of the District,a~e
hereby authorized and directed to prepare such records of account as are nec~ssary to
effect the transfer of funds required to make the indicated investment.
Section 7 In the event of the temporary absence of the District’s Treasurer,
the District’s General Manager is hereby delegated the authority to appoint an Acting
Treasurer to carry out the powers and duties of the Office of the District Treasurer.
PASSED AND ADOPTED at a Special Meeting held July 1,1998.
Chair
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