Chapter 3.12
INVESTMENT OF FUND MONEYS
Sections:
3.12.010 Authority.
The city manager and/or the city treasurer are, pursuant to RCW 35.39.032 and 35A.40.050, authorized to determine the amount of money available in each fund of the city for investment purposes, and to invest available moneys of the city in any investment authorized by the laws of the state of Washington without the consent of the city council for each investment. [Ord. 195B, 1979.]
3.12.020 Method.
Any moneys of the city determined to be available for investment purposes by the city manager and/or the city treasurer may be invested on an individual fund basis or may, unless otherwise restricted by law, be commingled with one common investment portfolio for the mutual benefit of all participating funds; provided, that if such moneys are commingled in a common investment portfolio, all income derived therefrom shall be apportioned among the various participating funds in direct proportion to the amount of money invested by each fund. [Ord. 195B, 1979.]