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Board approves first reading to revise county investment delegation and adopt tighter county investment policy
Summary
Supervisors removed a longstanding prohibition on delegating investment authority to the county's chief financial officer and approved a draft county investment policy that staff say is more restrictive than state law; the board voted unanimously on first reading.
Orange County supervisors on Feb. 11 approved first reading of an ordinance that would remove a decades‑old prohibition on delegating the county’s investment authority to the chief financial officer and adopted a draft county investment policy that county staff said is more restrictive than state law.
The change would give the chief executive and the chief financial officer additional flexibility to manage pooled county investments; the draft…
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