177.01 ESTABLISHMENT; MEMBERSHIP; DUTIES.

A Treasury Investment Board is hereby established consisting of the Mayor, the Director of Finance, President of Council, one member of Council, and the Law Director. It shall be the duty of such Board to invest the surplus funds of the City not needed for use by the City for a period of six months or more, which funds will be invested either in obligations of the City, United States Government bonds, bonds of the State or bonds of any other political subdivision of the State, according to law.

(Ord. 2016-008. Passed 2-8-16.)

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