(A) The Board shall endeavor to keep all funds owned or under the control of the Board and not immediately needed to accomplish the purposes of the Board invested in lawful investments. Consistent with its purposes and with obtaining the highest yields prudently obtainable, the Board shall endeavor to invest such funds by the deposit thereof in banks located in the county.
(B) The Board shall file with the county and the city:
(1) Within 45 days after the end of each fiscal quarter of the Board, a statement of revenues and expenses for the then preceding quarter and
(2) Within 120 days after the end of each fiscal year of the Board, an audited statement of income and expenses for and assets and liabilities as at the end of such fiscal year, prepared in accordance with generally accepted accounting principles.
(Ord. 1989-18, passed 11-14-89)