(A) A Municipal Treasury Investment Board is hereby established in and for the City. The Board shall consist of the Mayor, the City Auditor, the President of Council, the Director of Law and the City Treasurer, and shall have the power to authorize the investment of funds in the City Treasury not required for immediate use by the City in the manner set forth in Chapter 282.
(B) The term "immediate use" means a period of less than six months, if such meaning is determined by the Board to be advisable.
(C) The City Auditor shall maintain accounts known as the Treasury Investment Accounts, as prescribed by Ohio R.C. 731.58, and shall perform all duties therein set forth, except as otherwise provided in this section and in Chapter 282. The Municipal Treasury Investment Board shall furthermore periodically provide Council with reports of the investments made as authorized by the Board.
(Ord. 185-97. Passed 1-26-98.)