The City Treasurer may invest the city’s funds only in those investments permitted by ILCS Ch. 30, Act 235, § 2, as now or hereafter amended. The City Treasurer shall not make any investments in banks which are not insured by the Federal Deposit Insurance Corporation, nor shall he or she make any investments in the shares or investment certificates of savings and loan associations which are not insured by the Federal Savings and Loan Insurance Corporation.
(1986 Code, § 2-140.1)
Statutory reference:
Similar provisions, see ILCS Ch. 30, Act 235, § 2