(a) A Treasury Investment Board shall be established and shall consist of the Mayor, Finance Director and one member of Council who shall be appointed by the President of Council.
(b) All such monies which will be available for the investments are to be first approved by this Board.
(c) Investments may be made as outlined in Article VII, Section 3, of the City Charter and in addition thereto Certificates of Deposit may be purchased from commercial banks having a branch office in the City.
(d) The Finance Director shall advise the Board of the City finances and assure that sufficient funds will be available for operations before any investments are approved.
(e) It shall be mandatory that the Finance Director maintain an investment account as prescribed in Ohio Revised Code 731.58.
(f) The Finance Director shall render monthly accounting to Council of the Investment transactions.
(Ord. 123-70. Passed 11-23-70.)