(a) The Director of Finance will be responsible for carrying out the banking and investment policies of the City. The Director of Finance will prepare a list of officers and employees of the City who are authorized to make and approve deposits and investments of City funds, which list shall be filed with the Mayor and the Investment Advisory Committee. The Director of Finance may from time to time specify the maximum amount and types of deposits and investments which specified officers or employees are authorized to make and the period of time during which such authority to make and approve deposits and investments of City funds may be exercised.
(b) At the conclusion of each business day, the Director of Finance or his/her designated substitute shall review the authorized investments which have been made or purchased that day and, if dissatisfied with any authorized investment made or purchased, may order the Commissioner of Taxation and Treasury to withdraw or liquidate such authorized investment as promptly as possible and under the conditions specified by the Director of Finance. In accordance with the order of the Director of Finance, the Commissioner of Taxation and Treasury shall then withdraw or liquidate such an authorized investment.
(c) The Commissioner of Taxation and Treasury shall prepare and file with the Mayor, the Director of Finance and the Investment Advisory Committee a list of officers and employees of the City authorized to wire transfer funds of the City and may specify the maximum amount which a specified officer or employee may wire in one day or in a single transaction and the period of time during which such authority to wire transfer funds may be exercised.
(d) The lists provided in this section may be revised from time to time by the City official preparing such list.
(Ord. 366-86. Passed 5-20-86; Ord. 178-94. Passed 4-18-94.)