(a) An Investment Committee is hereby established.
(b) The Investment Committee shall be composed of the following named persons:
(1) The Mayor.
(2) The Finance Director.
(3) Two additional members to be appointed for annual terms by Council.
(c) The Chairman of the Investment Committee shall make a report concerning the same to Council on the fourth Tuesday of every month.
(d) The Director of Finance shall make all investments of funds upon the recommendation of the Investment Committee and with the concurrence of the majority of the voting members of Council eligible to vote.
(Ord. 89-15. Passed 12-29-15.)