Chapter 2.28
INVESTMENT COMMITTEE

Sections:

2.28.010    Established—Membership.

2.28.020    Duties.

2.28.010 Established—Membership.

There is created an investment committee for the city, consisting of the following three city officials: the mayor (or mayor pro tem, acting in the absence of the mayor), the chairman of the duly appointed finance committee of the city, and the city clerk-treasurer. (Ord. 517 § 7, 1985).

2.28.020 Duties.

(a)    Although the city clerk-treasurer will initiate and administer all investments, re- investments, liquidation, and redemption of all investments of money of the city in her custody which is not required for the immediate necessities of the city, all investment actions shall be done with the concurrence and approval of a majority of the investment committee.

(b)    No investment of city moneys shall be made or disbursed for investment without the approving signatures in writing on any check, warrant, draft or order by any two members of the investment committee. (Ord. 517 § 8, 1985).