(a) Whenever the Director of Finance submits to the Mayor and to the Law Director a statement of moneys in the City Treasury or in the process of collection and a schedule showing the probable requirements of money for use by the City for a period of not less than six months, together with a recommendation as to whether any moneys in the Treasury shall be invested in the various types of bonds or obligations enumerated in Ohio R.C. 731.56, the Mayor, the Law Director and the Director of Finance may thereupon order the investments, at not more than the current market value, as they deem advisable in the interest of the City.
(b) The Director of Finance shall maintain an account, to be known as the Treasury Investment Account, in which he shall enter all transactions relating to the investment of treasury funds. He shall maintain a record and furnish to Council a duplicate of all items entered thereon, showing any bonds or other securities purchased or sold for the account, with the number, maturity, date and interest rate of each.
(1979 Code 31.11)
(1979 Code 31.11)