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At the first meeting of the Housing Commission following the effective date of Ordinance No. 1498, the Housing Commission shall adopt bylaws. Thereafter, the bylaws of the Housing Commission may be amended only with the approval of at least four (4) members of the Housing Commission at a regular or special meeting, and any amendment shall not be inconsistent with the provisions of this ordinance, applicable Health and Safety Code provisions, or enactments delegating powers to the Housing Commission. (§ 2, Ord. 1406, eff. April 14, 2011, as amended by § 8, Ord. 1498, eff. June 21, 2018)
Article 38. Financial Oversight Committee
(a) There shall be created a Financial Oversight Committee to advise the Board regarding the oversight of financial reporting, audit, the treasury, budgeting, and tax allocation.
(b) The Committee shall, subject to Board approval, adopt and revise a charter for the Committee setting forth membership criteria and powers consistent with the County Code of Ordinances.
(c) The Committee's charter shall include the following requirements for members of the Committee:
(i) A member shall disclose to the committee at a regular meeting any activities that directly or indirectly raised money for:
a. a candidate for local treasurer; or
b. a member of the governing board of any local agency that has deposited funds in the county treasury while a member of the committee.
For purposes of this subsection, raising money includes soliciting, receiving, or controlling campaign funds of a candidate, but not the member's individual campaign contributions or non-financial support. This section does not apply to a member raising money for his or her own campaign.
(ii) A member shall disclose to the Committee at a regular meeting any contributions, in the previous three years or during the period that the employee is a member of the committee, by an employer to:
a. the campaign of a candidate for the office of local treasurer; or
b. to the campaign of a candidate to be a member of a legislative body of any local agency that has deposited funds in the county treasury.
(iii) A member cannot secure employment with, or be employed by, bond underwriters, bond counsel, security brokerages or dealers, financial services firms, financial institutions, and municipal advisors with whom the County is doing business during the member's Financial Oversight Committee membership period or for one year after leaving the Financial Oversight Committee. This subsection only applies to employment or soliciting employment, and not other relationships with such companies with whom the County is doing business.
(iv) A member shall disclose to the Committee any honoraria, gifts, and gratuities from advisors, brokers, dealers, bankers, or other persons who conduct business with the County Treasurer while a member of the Committee. All members shall also comply with the requirements of the Political Reform Act or any other law or regulation regarding the receipt and disclosure of financial benefits and conflicts.
(§ 4, Ord. 1450, eff. January 5, 2015, as amended by § 2, Ord. 1471, eff. October 13, 2016)
The Financial Oversight Committee shall consist of seven (7) voting members as follows:
(a) Two (2) members of the Committee shall be members of the Board, appointed by the Board.
(b) One (1) member of the Committee shall be the Superintendent of the Office of Education, or his or her designee.
(c) One (1) rotating member of the Committee shall be a City Council member or employee of any City within the County. Prior to each term, each City within the County may nominate one (1) individual to serve on the Committee. The Board shall appoint the member from these nominees.
(d) One (1) rotating member of the Committee shall be a board member or employee of any special district within the County which, in the preceding twelve (12) months, has had funds on deposit with the County treasury. Prior to each term, each special district whose jurisdiction includes any portion of the County may nominate one (1) individual to serve on the Committee. The Board shall appoint the member from these nominees.
(e) Two (2) rotating members of the Committee shall be members of the public residing in the County of Yolo. The member shall not be a board member or employee of the County, any City within the County, or any special district within the County which, in the preceding twelve (12) months, has had funds on deposit with the County treasury. Any qualifying individual may submit an application, and any Board member or current Committee member may nominate a qualifying individual to the Board for consideration. The Board shall appoint the members from these applicants and nominees. At least one (1) public member appointed by the Board must have financial expertise as described in the Committee's charter. (§ 4, Ord. 1450, eff. January 5, 2015)
(a) The Chief Financial Officer and County Administrative Officer, or their designees, shall each be non-voting members of the Committee.
(b) Except for the public members, each member may designate an alternate member to have all the power of a voting member in his or her absence.
(c) Each member shall be financially literate, as described in the Committee Charter. (§ 4, Ord. 1450, eff. January 5, 2015)
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