(a) Whenever there are moneys in the treasury, which will not be required to be used for a period of six months or more, such moneys may, in lieu of being deposited in a bank or banks, or other public depository, be invested by the Village in accordance with the provisions of Ohio R.C. 731.56, 731.57, 731.58 and 731.59. Investments so purchased shall be sold in strict accordance with Ohio R.C. 731.57.
(Ord. 104-1969. Passed 12-16-69.)
(b) In order to invest such public funds of the Village pursuant to subsection (a) hereof, Council hereby creates a Treasury Investment Board, consisting of the Mayor, the Finance Director, the Director of Law and the Finance Chairman of Council.
(Ord. 12-1971. Passed 2-2-71.)
(c) The Treasury Investment Board shall possess all powers and shall be subject to all obligations as set forth in Ohio R.C. 731.56 to 731.59, inclusive.
(Ord. 104-1969. Passed 12-16-69.)