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Miscellaneous Resolution# 8870 . _ • March I, 1979
BY: JAMES A. DOYON, COUNTY COMMISSIONER, DISTRICT 0 10
IN RE: AUTHORIZATION FOR INVESTMENT OF SURPLUS COUNTY FUNDS IN
CREDIT UNIONS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, Act 500 of the Public Acts of 1978 amends Act 66 of the Public
Acts of 1977 provides in part as follows:
"Sec. 1. The ... governing body of a county ... by resolution may
authorize its treasurer ... to invest surplus funds belonging to and
under the control of the ... county as follows:
(b) In certificates of deposit, savings accounts or depository
receipts of ... a credit union which is insured by the national
credit union administration."
and;
WHEREAS, the County Treasurer requests the approval of the County Board of
Commissioners to invest County funds in these investment securities.
NOW THEREFORE BE IT RESOLVED that the County Treasurer is hereby
authorized to invest surplus county funds in the following investment securities:
certificates of deposits, savings accounts or depository receipts of a credit union which
is insured by the national credit union administration.
Mr. Chairperson, I move the adoption of the foregoing resolution.
s A. Doyon, Distri0
ity Commissioner
#8870 March 22, 1979
Moved by Murphy supported by Doyon the report be accepted and Resolution #8870
be adopted.
Moved by Doyon supported by,FOrtino the resolution be laid on the table.
AYES: Wilcox, Aaron, DiGiovanni, Doyon, Fortino, Gabler, Gorsline, Hobart,
Hoot, Kelly, Lewand, McConnell, McDonald, Moffitt, Montante, Moore, Murphy, Page,
Patterson, Perinoff, Pernick, Peterson, Price, Roth. (24)
NAYS: None. (0)
A sufficient majority having voted therefor, the motion carried.