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Oxnard council directs staff to pursue investment-pool options for city funds
Summary
At the Sept. 16 meeting the council gave staff direction to research and return with recommendations on investing excess city funds in state-authorized investment pools (such as CalTRUST/CAMP) and related legal steps; staff said pools offer daily liquidity and market rates, and the council asked for comparative proposals.
The Oxnard City Council on Sept. 16 instructed staff to return with a comparison of local investment-pool options that meet state law, directing staff to prepare proposals for council review rather than delegating unrestricted investment authority to staff.
Background and recommendation: Finance staff presented the council with a choice: continue current practices (including LAIF) or pursue authorized local government investment…
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