(A) For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ELECTRONIC FUNDS TRANSFER. Any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, that is initiated through an electronic terminal, telephone or computer or magnetic tape for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account.
TREASURER. The duly elected, qualified and acting Treasurer of the county.
(B) (1) The Treasurer is hereby authorized to transact the financial business of the county, through the use of electronic funds transfer.
(2) This authority shall be limited to the purchase of county investments, such as, but not limited to, certificates of deposit, repurchase agreements and treasury bills.
(3) The Treasurer shall maintain adequate documentation of the transactions so that they may be audited as provided by law.
(Ord. 5-1983, passed 5-17-1983)