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Treasurer/Tax Collector, on behalf of the Treasury Oversight Committee, recommending an increase of the maximum allowed in commercial paper from 15% to 20% and an increase from 4% to 5% invested in the commercial paper of any single issuing corporation; said changes reflect a measured approach to the more liberal limits allowed by Assembly Bill 1794, effective 1/1/07 for the El Dorado County Investment Policy.
RECOMMENDED ACTION: Approve.
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REASON FOR RECOMMENDATION:
New legislation and greater flexibility for investment portfolio.
FISCAL IMPACT: NONE
ACTION TO BE TAKEN FOLLOWING APPROVAL: NONE