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(A) The city is hereby given full and complete authority to make any and all investments of public funds, as allowed by law. In that regard the city controller is authorized, as provided by state statue, to manage all city funds and to make investments hereof, as deemed necessary pursuant to all applicable law.
(B) This section is not intended nor is it enacted to suggest that the city has not had investment powers but rather this section is an updated local codification of such powers and is passed pursuant to IC 5-13-4-1 through 5-13-14-4.
(C) The city hereby reaffirms its vacation and paid sick time policies, as contained in the city policy manual. Provided, however, and notwithstanding anything in the policy manual to the contrary, accrued but not used vacation time shall not be “cashed out” prior to termination of an employee. Furthermore, pay will not be given to an employee (except in the case of termination) in lieu of taking vacation.
('74 Code, 1-13) (Ord. No. G-17-83, passed 6-4-83)