Whenever there are moneys in the Treasury of the Municipality which will not be required to be used by the Municipality, such moneys may, in lieu of being deposited in a bank or banks, be invested in obligations of the Municipality, or in such other bonds or obligations as are specified in Ohio R.C. 731.56. Such investments shall be managed by the Twinsburg Treasury Investment Board. Such Board shall be comprised of the Law Director, the Director of Finance, the Mayor, and one member of Council. Such member shall be appointed by Council for a one-year term. Investments shall be made in the manner and pursuant to the terms and provisions set forth in Ohio R.C. 731.56 to 731.59.
(Ord. 116-1980. Passed 12-23-80.)