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Delaware County commissioners amend investment resolution, designate finance director as investing authority
Summary
The Board of Commissioners of Delaware County voted to amend Resolution 25-175 by adopting Resolution 25-244, replacing Section 3 to designate the county’s director of finance, Justin Nave, as the investing authority in place of the Delaware County Treasurer and directing counsel to pursue legal action if needed.
The Board of Commissioners of Delaware County voted to adopt Resolution 25-244, amending Resolution 25-175 to designate Justin Nave, the county’s director of finance, as the county’s investing authority, replacing the Delaware County Treasurer immediately upon adoption.
The change, read into the record by Eric Hostetler, general counsel, also directs the board’s legal counsel to “initiate, prosecute, and defend any legal action necessary as a result of the designation,” and directs the clerk to provide written notice of the change to the treasurer.
The amendment, described by general counsel as a deletion and replacement of Section 3 of Resolution 25-175, follows an extended internal dispute over compliance with the county’s investment procedures. A commissioner told colleagues that the treasurer had “refused to acknowledge or follow” the earlier resolution requiring that private placements be discussed with the investment committee and approved unanimously by that committee before purchase; the board said it sought an opinion from the Delaware County Prosecutor, who upheld the board’s position.
Commissioners voiced support in the meeting for naming Nave as the investing authority. One commissioner said the revised policy “was not being followed intentionally” and that the earlier approach had produced protracted litigation rather than a resolution. Another commissioner praised Nave’s qualifications and experience, saying they were comfortable with the designation.
At the roll call, the motion to adopt Resolution 25-244 passed with three aye votes: Commissioner Lewis — aye; Commissioner Benton — aye; Commissioner Merrell — aye. No no votes or abstentions were recorded on the transcript.
The board’s amendment takes effect immediately on adoption, and the resolution text as read places the director of finance in the investing-authority role “until the designation is rescinded or a new designation is made by further resolution of the board.” The resolution also keeps the board’s earlier instruction that legal counsel may pursue necessary litigation arising from the change.
Meeting minutes show the board then adjourned. The transcript records a brief set of typographical corrections suggested by general counsel to the draft language and a clerk direction to notify the treasurer in writing.
