[Code 1969, § 2-1; Ord. of 7-20-1959]
A committee consisting of the town manager, the director of finance and the town treasurer is hereby constituted for the purpose of supervising the investment and reinvestment of all trust funds now owned, held or managed by the town or which may hereafter be owned, held or managed by the town. The committee shall have the power of investing and reinvesting such trust funds in such investments as the committee, in its sole discretion, shall deem proper; provided, that all such investments shall be such as are legal for the investment of trust funds in the state, unless the creator of any such trust has limited the investment of any such trust funds, in which case such investments and reinvestments shall be confined to the types so limited by such creator.