(a) In accordance with Ohio R.C. 731.56, 731.57 and 731.58, there is hereby created an account to be known as the Treasury Investment Account which shall be maintained by the Director of Finance and in which there shall be entered all transactions related to the investment of treasury funds under Ohio R.C. 731.56 and 731.57. The Treasury Investment Account shall be maintained in accordance with the applicable provisions of Ohio R.C. 731.58.
(b) The City Manager, Director of Finance and Law Director shall constitute the Treasury Investment Board, provided that investments by the Treasury Investment Board shall be subject to supervision by the Board provided for in Section 11.08 of the City Charter.
(c) In accordance with Ohio R.C. 731.56, Council hereby determines that whenever there are moneys in the Treasury of the City which will not be required to be used by the City for a period of six months or more, such moneys may, in lieu of being deposited in a bank, be invested in obligations of the City as well as in those additional obligations which are authorized by the provisions of Ohio R.C. 731.56, and such investments shall be made in accordance with such Ohio R.C. 731.56 and 731.57, and the provisions of this section.
(Ord. 88-1192. Passed 8-16-88.)