Chapter 3.58
INVESTMENTS

Sections:

3.58.010    Finance director designated as investment officer.

3.58.020    Policy for investments.

3.58.010 Finance director designated as investment officer.

The finance director is designated as the investment officer for the city of Poulsbo and is authorized to invest any excess of inactive funds in any manner authorized by law. (Ord. 86-05 § 1 (part), 1986)

3.58.020 Policy for investments.

In accordance with RCW 35.39.034, as amended, the following policy for the investment of excess or inactive funds is adopted:

A.    Moneys determined to be available for investment by the finance director may be invested on an individual fund basis or may, unless otherwise restricted by law, be commingled within one common investment portfolio.

B.    The finance director shall apportion thirty percent of all income derived from investments to the General Fund No. 001, unless otherwise restricted by law, with the balance to be allocated to the parent fund. All income derived from the investment of moneys from the general fund shall be apportioned to the general fund. (Ord. 86-05 § 1 (part), 1986)