Chapter 3.04
INVESTMENT OF EXCESS OR INACTIVE FUNDS
Sections:
3.04.030 Conversion of securities into cash.
3.04.010 Authorized.
The clerk-treasurer of the town is empowered to invest funds which she/he determines to be excess to current needs. These funds may be invested as prescribed by RCW 35.39.030 or in a savings account or savings certificates of a bank or savings and loan association licensed to do business in the state. (Ord. 238 § 1, 1978)
3.04.020 Monthly report.
The clerk-treasurer shall make a monthly report to the town council of all investment transactions. (Ord. 238 § 2, 1978)
3.04.030 Conversion of securities into cash.
The town council, by resolution, or the clerk-treasurer may at any time convert the securities referred to in Section 3.04.010, or any part thereof, into cash. (Ord. 238 § 3, 1978)