Chapter 3.48
INVESTMENT OF SURPLUS FUNDS
Sections:
3.48.020 Conformance with state law.
3.48.030 Local government investment pool.
3.48.010 Authority.
The finance committee is designated and appointed to make investments of surplus funds as determined by the city treasurer from time to time. The city treasurer shall report to the finance committee such funds as are available and qualified investments, and the finance committee shall authorize the city treasurer to make such investments of said funds and, at the next following council meeting after such investments, the city treasurer shall report to the council the investment, in order that the council may be advised. (1964 code § 1.40.045).
3.48.020 Conformance with state law.
All investments shall be made in accord with the laws of the state. (1964 code § 1.40.046).
3.48.030 Local government investment pool.
The city treasurer or the deputy clerk/treasurer of the city is authorized to deposit and withdraw moneys in the local government investment pool in the State Treasury in accordance with Chapter 294, Laws of 1986 and WAC 210-01-010 et seq., for the purpose of investment as stated therein. (Ord. 1165, 1986).