Premiums and discounts on Treasury investment purchases shall be credited to or charged against interest and amortized over the period from purchase to the date of maturity of the security. Gains and losses in the sale of Treasury investment securities shall be credited to or paid from interest.
Net interest realized by the Treasury Investment Account shall be distributed quarterly, as follows: The interest earned on securities held by the Treasury Investment Account shall be paid to the General Fund.
(Ord. 37-67. Passed 12-12-67.)