Agenda

Return

C. 22

To:	Board of Supervisors
From:	Russell Watts, Treasurer-Tax Collector
Date:	December 10, 2019

Contra

Costa

County

Subject:

DECLARE A VACANCY ON THE TREASURY OVERSIGHT COMMITTEE

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 12/10/2019

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Ronda Boler, 925-957-2806

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: December 10, 2019
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ACCEPT the resignation of Robert Leete, DECLARE a vacancy in the Contra Costa Special Districts Association Alternate seat on the Treasury Oversight Committee effective immediately, and DIRECT

the Clerk of the Board to post the vacancy.

FISCAL IMPACT:

No fiscal impact.

BACKGROUND:

The purpose of the Treasury Oversight Committee is to review the County's investment policy, regularly monitor the County Investment Pool's performance, and report on the pool's performance to the Board of

BACKGROUND: (CONT'D)

Supervisors. The membership of seven comprises: (1) One representative (or Member) appointed by the Board of Supervisors; (2) The County Superintendent of Schools, or his or her designee; (3) One

representative selected by a majority of the presiding officers of the governing bodies of the school districts and the community college district in the County; (4) One representative selected by a majority of the

presiding officers of the legislative bodies of the special districts in the County that are required or authorized to deposit funds in the County Treasury; and (5-7) Three members of the public, a majority of whom shall have expertise in, or an academic background in, public finance and who shall be economically diverse and bipartisan in political registration. (May have no fewer than three nor more than 11 members, additional restrictions are on members).

Robert Leete, who was an alternate elected by a majority of Contra Costa Special Districts and has served the Treasury since September 11, 2018, has notified our office of his decision to step down effective immediately. The term of his seat ends April 30, 2022. A new nomination to finish out Mr. Leete's term will come from the special districts of the County.

CONSEQUENCE OF NEGATIVE ACTION:

Failure to declare the vacancy before making a new appointment will cause the County to be out of

compliance with State law.

CHILDREN'S IMPACT STATEMENT:

None.