Chapter 3.40
INVESTMENT OF FUNDS
Sections:
3.40.020 Monthly report required.
3.40.040 Interest-bearing checking account – Income disposition.
3.40.010 Authorization.
The city clerk-treasurer is authorized to determine the amount of money available in each fund for investment purposes and make the investments authorized as indicated in RCW 35.39.030 as now, or hereafter amended, and the provisions of RCW 35.39.034 without the consent of a legislative authority for each investment. (Ord. 87-390 § 1, 1987)
3.40.020 Monthly report required.
The city clerk-treasurer shall make a monthly report of all investment transactions to the city council. (Ord. 87-390 § 2, 1987)
3.40.030 Conversion to cash.
The city council or the city clerk-treasurer may at any time convert any of its investments, securities or any part thereof into cash. (Ord. 87-390 § 3, 1987)
3.40.040 Interest-bearing checking account – Income disposition.
It is directed in accordance with RCW 35.39.034 that all income derived from the interest-bearing checking account shall be used for the benefit of and deposited to the general (current expense) fund of the city. (Ord. 87-391 § 1, 1987)