The actions of the Mayor in the performance of his duties as manager of the City’s funds shall be evaluated using the “prudent person” standard. Investments shall be made with judgment and care under prevailing circumstances which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment considering the probable safety of their capital as well as the probable income to be derived.
(Ord. 94-12-2, passed 12-28-94)