There is created an investment committee for the city, to be composed of four members, namely, the mayor, the clerk-treasurer, and two councilmembers appointed by the city council, such councilmembers to serve during their terms of office as members of the city council.
(Ord. 552 § 1, 1966; Ord. 766 § 1, 1982; Ord. 832 § 1, 1986)
The investment committee shall have the duties and authority set forth in RCW 35.39.030, including the authority to consider and to make investments authorized by law, and also to convert investments into cash. The committee shall make a monthly report of all investment transactions made to the city council.
(Ord. 552 § 2, 1966)