In the discretion of the city manager and/or the director of
finance, any surplus funds that are not needed for the immediate operation
of the city shall be invested to bring the maximum return possible
to the city.
(Ord. 170 § 1, 1963; Ord. 512 § 13, 1968)
All investments shall be made in accordance with the provision
of the laws of the state of California, and no other investments,
except those so authorized shall be utilized.
(Ord. 170 § 2, 1963)
A periodic report shall be made to the council as to the nature
of the investments and the returns thereon, or whenever the council
shall ask for such report.
(Ord. 170 § 3, 1963)
