For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BEARER PAPER. Commercial paper is which is negotiable upon delivery by any party in possession or which does not designate a specific party by whom it is negotiable.
CITY. The City of Hickory Hill, Kentucky.
CITY FUNDS. Any revenues, moneys, accounts payable, notes, obligations, bonds, or other monetary funds lawfully collected and/or received by the city subject to its control and jurisdiction.
COLLATERAL. As used in commercial transactions, COLLATERAL means the property subject to a security interest.
FINANCIAL ASSETS. All monetary assets held directly by the city as accounted for in the city’s annual financial report or budget, including moneys existing in all outstanding or future funds.
INVESTMENT PORTFOLIO. The entire group of securities or other investments held by the city at any point.
(Ord. 1B-1994, passed 12-13-1994)