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Whenever there are moneys in the treasury of the City which will not be required to be used by the City for a period of six months or more, such moneys may, in lieu of being deposited in a bank or banks, be invested in obligations of the City, or in such other bonds or obligations as are or may be specified in Ohio R.C. 731.56, now in effect or as the same may from time to time be hereafter amended.
Such investments shall be made in the manner and pursuant to the terms and provisions set forth in Ohio R.C. 731.56 et seq.
(Ord. 360. Passed 6-10-57.)
(Ord. 360. Passed 6-10-57.)
The funds in the general account of the City of Huron, on active deposit with the Firelands Community Bank and Erie County Bank, shall be subject to be withdrawn on the check, draft, note or order of the City signed by the Director of Finance and the City Manager.
(Res. 1961-7. Passed 8-14-61.)
There is hereby created the position of Assistant Finance Director. Such assistant shall be subject to the management and control of the Finance Director. The Assistant Finance Director shall perform the duties of Finance Director during the disability or temporary absence of the Finance Director. Such duties shall include those duties imposed upon the Finance Director by the Charter and ordinances of the City and the laws of the State and the authority to execute notes and bonds of the City where the ordinance authorizing such notes or bonds requires the signature of the Finance Director and the further authority to execute, in lieu of the Finance Director, any and all other certificates and documents that may be required or customary in connection with the issuance of such notes and bonds. (Ord. 1974-52. Passed 10-21-74.)
(a) Pursuant to the home rule powers of the City, interest earned on pooled investments made by the City shall be credited to the General Fund with the exception of interest earned on rescue squad funds, street funds, state highway funds, and grant funds, with the interest on such funds to be credited respectively to the Huron Rescue Squad Fund, the Street Fund, the State Highway Fund and the applicable grant fund. In addition, interest earned on debt proceeds for capital projects shall be credited to the appropriate Capital Project Fund.
(b) The Director of Finance is authorized and directed to make the needed entries on the City's books of accounts and to do all other things necessary to carry out the intent of this section. (Ord. 1997-14. Passed 5-27-97.)