Any moneys that may from time to time be in the treasury of the City and not needed for any municipal purpose for a period of six months or more, may be invested in any securities authorized by Ohio R.C. 731.56 in lieu of depositing such moneys in a bank, and the City Auditor is hereby authorized and directed, at any time there are any such moneys in the treasury of the City, to submit to the City Manager and to the City Solicitor a statement of such moneys in the treasury or in the process of collection, a schedule showing the probable requirements of money for the use of the City for a period of six months and his recommendation as to whether any money in the treasury should be invested in any such obligations or securities. The City Manager, City Solicitor and City Auditor are hereby authorized, upon receipt of such schedule and recommendation, if they deem it advisable, to order the investment of any part or all of the moneys that shall not be required for a period of six months or more. All such investments shall be made in accordance with Ohio R.C. 731.56 through 731.59.
(Ord. 2016-146. Passed 11-14-16.)