Chapter 3.04FINANCE COMMITTEE

Sections:

3.04.010
Composition.
3.04.020
Investment.
3.04.010Composition.

The mayor, the city treasurer, and one city councilman shall constitute the city finance committee. The council member shall be appointed by the council and shall remain a member at the pleasure of the council. The mayor shall act as chairman of the committee and the city treasurer as secretary thereof. A complete record of all investments shall be kept in the financial records of the city, maintained by the city treasurer.

(Ord. 603 § 1, 1966)

3.04.020Investment.

The finance committee is authorized to invest city money from inactive funds or from other funds in excess of current needs in the manner and in the investments prescribed by RCW 35.39.030, without the necessity of a consenting ordinance of the city council for each such investment. The finance committee shall make a monthly report of all investment transactions to the city council. The city council or the city finance committee may at any time convert the securities, or any part thereof, into cash. The treasurer shall remain the custodian of all such moneys and securities for the city, as prescribed by RCW 35.24.130.