The City Treasurer, subject to the provisions of Act 20 of the Michigan Public Acts of 1943, as amended, may from time to time, invest, sell and reinvest and monies of the Reserve Fund in securities as permitted by law, which securities shall be held and safely kept by the Treasurer for the use and benefit of the Reserve Fund. Interest shall be credited to the Reserved Fund annually.
(Ord. 690, passed 7-2-90)