(a) The Finance Director shall establish an account known as the Treasury Investment Account in which she shall enter all transactions relating to the investment of Treasury funds, a copy of which shall be provided to Council.
(b) The Finance Director shall be charged with the collection of all interest and principal when due in the same manner as other receipts are collected. Such interest shall be credited to such fund or funds as may be authorized by ordinance of Council.
(c) The Finance Director shall be charged with the responsibility of the care and custody of all securities in the Treasury Investment Account and shall place them in the custody of any member of the Federal Reserve Banking System or keep them in a safety deposit box or vault belonging to a regular depository. If such securities are kept in a safety deposit box or vault, the Finance Director can open it only in the presence of a member of the Streetsboro Treasury Investment Board, and upon a warrant or order of the Finance Director directing the deposit or removal of securities or the clipping of interest coupons.
(Ord. 1974-19. Passed 3-4-74.)
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