HomeMy Public PortalAboutResolution - 79-02- 19790110 - Author of Board MembersRESOLUTION NO. 79-2
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE MIDPENINSULA REGIONAL OPEN SPACE
DISTRICT AUTHORIZING CERTAIN•BOARD
EMPLOYEES TO INVEST TEMPORARILY IDLE
FUNDS IN SECURITIES ALLOWED BY GOVERNMENT
CODE.
WHEREAS, the District needs to maximize its yield
on temporarily idle funds in order to help meet land acqui-
sition objectives; and
WHEREAS, Government Code, Sections 53630-53635
authorize the District to invest inactive funds in securities
currently yielding interest rates considerably higher than
the Santa Clara County Fund; and
WHEREAS, the District can markedly improve its yield
on temporarily idle funds without sacrificing financial safety
or flexibility;
NOW, THEREFORE, BE IT RESOLVED by the Board of
Directors of the Midpeninsula Regional Open Space District that
the General Manager and the Controller, acting. jointly. or in
their absence, District employees authorized to act on their
behalf, are hereby authorized to invest temporarily idle funds
in any investment instrument authorized by the Government Code
for maturitiesappropriateat time of investment.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
RESOLUTION NO. 79-2
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula
Regional Open Space District on January 10
regular meeting thereof, by the following vote:
, 19 79 at a
AYES: R. Bishop, K. Duffy, B. Green, N. Hanko, E. Shelley,
H. Turner and D. Wendin
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: APPROVED:
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Secretary, card
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President, Board of Di ctors
I, the District Clerk of the Midpeninsula Regional Open Space
District, hereby certify that the above is a true and correct copy
of a resolution duly adopted by the Board of Directorsof the
Midpeninsula Regional Open Space District by the above vote at a
meeting thereof duly held and called on the above date.
District Clerk