File #: 07-015    Version:
Type: Agenda Item Status: Approved
File created: 12/20/2006 In control: Board of Supervisors
On agenda: 5/1/2007 Final action: 5/1/2007
Title: 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.
Attachments: 1. Investment Policy.current.2005 (revised for board approval).pdf, 2. ab_1794_bill_20060828_chaptered.pdf
Title
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.
 
Body
 
 
REASON FOR RECOMMENDATION:       
 
New legislation and greater flexibility for investment portfolio.
 
FISCAL IMPACT:      NONE
 
ACTION TO BE TAKEN FOLLOWING APPROVAL:      NONE