Council authorizes the Fiscal Officer to invest the cash assets of the Village in instruments described in Chapters 133 and 135, of the Ohio Revised Code. The Fiscal Officer shall obtain the instrument that yields the highest interest rates and is in the best interests of the Village. All investments shall be approved by Council.
(Res. 471. Passed 12-30-97.)
(a) Whenever there are moneys in the treasury of the Village, which will not be required to be used for a period of six months or more, such moneys shall be deposited in the Village depository bank in interest bearing investments according to law.
(b) Interest on special funds, including but not limited to water works fund, sewage disposal funds, sewer funds, traffic funds, street construction maintenance and repair funds and federal funds and any and all other funds, shall be credited to that respective fund whose moneys earned the interest.
(Ord. 197. Passed 3-4-80.)