Pursuant to the delegation of authority in Section 3.01.010, the City Treasurer is authorized to purchase, at their original sale or after they have been issued, securities which are permissible investments under any provision of State law relating to the investing of general City funds, including but not limited to Government Code Sections 53601, 53635 and 53635.5, and the City Charter, as said Sections now read or may hereafter be amended, from moneys in his custody which are not required for the immediate necessities of the City and as he may deem wise and expedient and to sell or exchange for other eligible securities and reinvest the proceeds of the securities so purchased.
[Ord. No. 461, Section 3, 5/9/07.]