Chapter 2.24
INVESTMENT COMMITTEE
Sections:
2.24.030 Government of actions – Quarterly report.
2.24.010 Appointment.
Pursuant to RCW 35.39.032, the city council appoints an investment committee to be composed of the city finance director, city administrator and a city councilmember, the latter being appropriately elected by a majority vote of the city council to serve at their pleasure. (Ord. 1462 § 1, 2001; Ord. 792 § 1, 1973).
2.24.020 Powers and duties.
The investment committee is authorized to determine the amount of money available in each fund for investment purposes and to make investments of city funds as indicated in RCW 35.39.030, as now or hereafter amended, and RCW 35.39.034 without required action of the legislative authority for each investment in accordance with the “City of Burlington Investment Policy” adopted on July 10, 1997, by Resolution 9-97 of the Burlington city council. (Ord. 1462 § 1, 2001; Ord. 792 § 2, 1973).
2.24.030 Government of actions – Quarterly report.
The investment committee shall be governed in its action by chapter 35.39 RCW, as now or hereafter amended, and shall make a quarterly report of all investment transactions to the city council at the first council meeting following the month for which the quarterly report is made in accordance with the “City of Burlington Investment Policy” adopted on July 10, 1997, by Resolution 9-97 of the Burlington city council. (Ord. 1462 § 1, 2001; Ord. 792 § 3, 1973).