The purpose of this chapter is to enable the city of Forks to invest its inactive funds in certain prescribed investments.
(Ord. 498 § 1, 2002)
[1]
Prior legislation: Ord. 103.
The clerk/treasurer is hereby authorized to make investments on behalf of the city. Monies in inactive funds or other funds in excess of current needs may be invested in a manner authorized by state law by the clerk/treasurer without consent of the city council for each investment. The clerk/treasurer may at any time convert securities and investments purchased with city funds, or any part thereof, into cash.
(Ord. 498 § 1, 2002)
The clerk/treasurer shall make monthly reports to the mayor and the council of all investment transactions as part of the monthly treasurer’s report.
(Ord. 498 § 1, 2002)