(a) The Finance Director is hereby authorized and directed to invest funds of the City, not immediately needed for public purposes, in a manner consistent with the Charter of the City and the general law of the State with respect to temporary, active or inactive funds, performing all functions of a treasury investment board or its successors pursuant to the general laws of the State.
(b) All current and temporary prior investments of the City are hereby ratified and confirmed.
(c) The Finance Director shall report to Council and the City Manager from time to time upon request of Council or the City Manager concerning the status of any moneys of the City which have been so invested on behalf of the City.
(Ord. 2009. Passed 3-6-73.)