The Mayor, Auditor and Law Director are hereby designated as members of the Treasury Investment Commission which is hereby created pursuant to Ohio R.C. 731.56. The Treasury Investment Commission shall have the authority to invest City funds pursuant to the provisions of Ohio R.C. 731.56 and to sell obligations in the manner provided by Ohio R.C. 731.57. The Commission shall be governed by the provisions of Ohio R.C. 731.56 to 731.59 inclusive.