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March 3, 2011 <br />Page 2 <br />It was moved by Gibson, seconded by Lange, and carried 5-0 to approve the <br />Consent Calendar as amended; i.e., date on page 4 Section D second paragraph <br />changed to April 29. <br />7. DEFERRED MATTERS <br />None <br />8. NEW ITEMS <br />A. Readoption of Investment Policy <br />Lewanda stated that Government Code requires the Board to annually authorize the <br />delegation of investment authority, which is best accomplished by reviewing the District's <br />investment policy. The submitted policy was last adopted on February 4, 2010. She <br />noted that section 5. 1.1 has been added to require Board authority prior to modifying the <br />current District investment practice of investing only in State and County investment <br />pools. Staff recommends the District continue to rely on the financial expertise of the full- <br />time experts managing the State and County pools. The policy was reviewed with the <br />Board's Finance Committee at its February 23, 2011 meeting. <br />A discussion of investment options ensued. <br />It was moved by Holt, seconded by Lange, and carried 5-0 to readopt the District's <br />Invest Policy. <br />B. Update to Disposal of District Owned Property Policy <br />Hare stated that, to more effectively dispose of District owned property, it is necessary to <br />update the current policy created in 1986. The recommended updated policy provides for <br />more current methods of sale of District property; and more flexibility by allowing <br />cannibalization, donation, recycling and destroying/transferring to a public dump site as <br />an equal option to sale or trade-in. <br />It was moved by Gibson, seconded by Jacobsen, and carried 5-0 to approve update <br />to Disposal of District Owned property Policy. <br />C. Appointment to Goebel Senior Commission Applicant Review Committee <br />Lindsey provided background information. She stated that at its January 26, 2011 <br />meeting, the Commission decided to alter the way in which it reviews applicants. The <br />Commission has recommended that a member of the District Board of Directors <br />participate in the discussion process with candidates and assist the ad hoc committee in <br />its assessment of candidates and recommendation to the full Commission. March 14, <br />