HomeMy WebLinkAbout1972-1399 ORDINANCE NO. /-37F
AN ORDINANCE relating to city government administration; creating an
investment committee, appointing members thereto and
specifying the organization and functions thereof; and
amending Section. 1.73.010, 1.73.020 and 1.73.030 of
the City of Yaki Municipal Code.
BE IT ORDAINED BY THE CI Y OF YAKIMA:
Section 1. Section 1.73 010 of the City of Yakima Municipal
Code is hereby amended to rea4 as follows:
"1.73.010 Investment Committee Created -- Authorit . There
is hereby created an investment committee composed of the city
manager, director of fin.nce and city treasurer of the City of
Yakima. The committee i. hereby authorized to make investments
of city funds, as author zed by law, and, at any time, to convert
investments, or any part thereof, into cash, and to engage in
all such transactions wi hout the consent of the city council
being first obtained for each such transaction."
Section 2. Section 1.73 020 of the City of Yakima Municipal
Code is hereby amended to read as follows:
"1.73.020 Officers of Investment Committee. The city
manager is hereby appointed as chairman of said investment com-
e mittee to preside at all meetings thereof, provided, that the
city manager shall designate some other member of the investment
committee as chairman thereof to preside at any meeting from
which the city manager may be absent.
The city treasurer is hereby appointed as secretary of the
investment committee, and shall maintain a record of the minutes
of each meeting of the investment committee, together with a
record of all transactions thereof."
Section 3. Section 1.73.030 of the City of Yakima Municipal
Code is hereby amended to read as follows:
"1.73.030 Meetings of Investment Committee. The investment
committee shall meet at least once each month, at a time desig-
nated by the city manager. Additional meetings may be called
by the city manager, from time to time, as he deems necessary
or desirable for the best interests of the city, provided, the
function of the investment committee is deemed to be continual
so that the city manager may direct that any two members of the
committee may perform functions of the investment committee at
any time without a special meeting being called for that purpose."
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Section 4. This ordinance shall be in full force and effect
thirty days -after its passage, approval and publication as provided
by law and by the City Charter.
• PASSED BY THE CITY COUNCIL, signed and approved this 24th day
of March, 1972.
6 ;,1
Mayor
ATTEST:
City Clerk
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