County supervisors on Tuesday unanimously voted to revoke Orange Countyâ€™s Treasurer-Tax Collector Chriss Streetâ€™s authority to invest county funds. Supervisors said that while Street has done a good job as treasurer, the move was needed to prevent the public and investors from losing confidence in the countyâ€™s investment pool until Streetâ€™s term ends on Jan. 3, 2011.
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Campbell and board Chairwoman Janet Nguyen are sponsoring an emergency agenda item that calls for transferring Streetâ€™s investment authority to county Chief Financial Officer Bob Franz. â€œWe just donâ€™t believe itâ€™s proper to have someone found guilty in court of breaching his fiduciary duty to be responsible for managing the countyâ€™s investment funds,â€