A. Investment Committee Created: An investment committee, comprised of the city treasurer, the city finance officer (clerk) and the mayor, is hereby created for the purpose of beneficial investment of funds accruing to the city. (1985 Code ch. 7 § 2-3)
B. Authority To Invest: The investment committee is authorized to invest and reinvest available funds of the city and its agencies, as limited by law; provided, that income from such investments may be placed in such funds as statutes afford, or into such funds as the city council may prescribe under special conditions. (1985 Code ch. 7 § 2-4)
C. Records Of Investment Maintained: The city treasurer shall keep records of all investments, showing the amount invested in each fund by type of investment and distribution of interest earned. (1985 Code ch. 7 § 2-5)