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Treasurer-Tax Collector is recommending approval of modifications to the El Dorado County Investment Policy, pursuant to California Government Code Section 27133.
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Reason for Recommendation:
The applicable California Government Code was added to several sections of the Investment Policy for reference purposes.
One sentence that referred to the investment reliance on government securities and real estate mortgage collateral was removed on page one due to current economic conditions regarding mortgage collateral. The County does not have an investment reliance on government securities and real estate mortgage collateral.
Fully collateralized Money Market Account as an investment category was added in the section "Investments - Maximum Percentage/Portfolio".
Action to be taken following Board approval: None
Contact: Louise Gresham X5819 / Ginnie Hibert X5811
Concurrences: