(a) 
As authorized by section 27131 of the Government Code, there is hereby established in the County of Tulare a County Treasury Oversight Committee. The committee shall consist of seven (7) members appointed from the following:
(1) 
The Auditor-Controller/Treasurer-Tax Collector.
(2) 
A representative appointed by the Board of Supervisors.
(3) 
The County Superintendent of Schools or his or her designee.
(4) 
A representative selected by a majority of the presiding officers of the governing bodies of the school districts and community college districts in the County.
(5) 
A representative selected by a majority of the presiding officers of the legislative bodies of the special districts in the County that are required or authorized to deposit funds in the County Treasury.
(6) 
Two (2) members of the public with expertise in, or an academic background in, public finance.
(b) 
Members shall be nominated by the Auditor-Controller/Treasurer-Tax Collector and confirmed by the Board of Supervisors. Any County officer who is a member of the committee may designate his or her assistant, or any deputy with experience in cash management, public finance or investment, to represent such officer at any meeting of the committee.
(Added by Ord. No. 3156, effective 4-19-96; amended by Ord. No. 3249, effective 1-18-01; amended by Ord. No. 3459, effective 5-1-14)
(a) 
A member of the committee may not be employed by an entity that has contributed to an election campaign of the Treasurer/Tax Collector or a member of the Board of Supervisors in the previous three (3) years.
(b) 
A member of the committee may not directly or indirectly raise money for the Treasurer/Tax Collector or a member of the Board of Supervisors while a member of the committee.
(c) 
A member of the committee may not secure employment with bond underwriters, bond counsel, security brokerages or dealers, or with financial services firms for three (3) years after leaving the committee.
(Added by Ord. No. 3156, effective 4-19-96)
(a) 
The committee shall meet regularly at such times and places as are convenient for its members. All meetings shall be open to the public and shall be subject to the Ralph M. Brown Act (Chapter 9, commencing with section 54950, of Part 1 of Division 2 of Title 5 of the Government Code).
(b) 
The committee shall review and monitor the investment policy prepared annually by the Treasurer/Tax Collector.
(c) 
The committee shall review any investment report provided by the Treasurer/Tax Collector as required by the Board of Supervisors.
(d) 
The committee shall cause an annual audit to be conducted to determine the County Treasury's compliance with Article 6 (commencing with section 27130) of Chapter 5 of Part 3 of Division 2 of Title 3 of the Government Code. The audit may include issues relating to the structure of the investment portfolio and risk.
(e) 
Nothing in this section shall be construed to allow the County Treasury Oversight Committee to direct individual investment decisions, select individual investment advisors, brokers, or dealers, or impinge on the day-to-day operations of the County Treasury.
(Added by Ord. No. 3156, effective 4-19-96)
The costs of complying with this Article shall be County charges and may be included with those charges enumerated under section 27013 of the Government Code.
(Added by Ord. No. 3156, effective 4-19-96)