Commissioners rescind investment resolutions and restore treasurer's investing authority under court order

Delaware County commissioners on May 8 rescinded three prior resolutions governing semiannual investment reviews and restored the county treasurer as the investing authority after a common pleas court entered an agreed partial judgment on May 6.

County counsel told the board the court order required rescission of Resolution Nos. 24‑759, 25‑175 and 25‑244 and restoration of the treasurer’s investing authority. The entry also included a prohibition: once restored, the treasurer shall not, by private placement, purchase bonds, notes or other obligations issued by political subdivisions or public entities during the remainder of the treasurer’s term.

County counsel presented four draft resolutions (labeled a–d) that would comply with the court’s order; commissioners discussed the amount of historical background to include. The administrator and deputy administrator recommended option B, which provides a full history of the policy and events leading to the entry while omitting some statutory references. Commissioners said they supported adopting option B to preserve the sequence of events for the public record while noting the judgment was only a partial resolution and that the underlying policy’s validity remains subject to further court review.

The board adopted Resolution No. 25‑337 rescinding the earlier investment reviews and restoring the treasurer’s authority; the resolution went into effect immediately upon adoption. Commissioners noted the rescission implements the recent court order and warned the county remains engaged in ongoing litigation related to the investment policy.

The rescission requires the restored treasurer to refrain from private placement purchases for the balance of the current term and preserves the court’s ability to adjudicate remaining claims in the case identified as 25CBH04‑0425.