Chapter 3.02
FINANCE COMMITTEE*

Sections:

3.02.010    Finance committee established.

3.02.020    Monthly report to council.

3.02.030    Conversion of securities.

*    Collection of fines—Chapter 1.04 of this code.

3.02.010 Finance committee established.

There is established a finance committee consisting of the city treasurer and the city clerk, which committee is authorized to invest any portion of the moneys of the city in its inactive funds or in other funds in excess of current needs in:

(1)    United States bonds;

(2)    United States certificates of indebtedness;

(3)    Bonds or warrants of this state;

(4)    General obligation or utility revenue bonds or warrants of its own or of any other city or town in the state;

(5)    Its own bonds or warrants of a local improvement or condemnation award district which is within the protection of the local improvement guaranty fund law; and

(6)    In other investments authorized by law. (Ord. 519 § 1, 1965).

3.02.020 Monthly report to council.

The finance committee shall make a monthly report of all investment transactions to the city council. (Ord. 519 § 2, 1965).

3.02.030 Conversion of securities.

The finance committee is authorized to convert the securities purchased for the city of Omak, or any part thereof, into cash at any time. (Ord. 519 § 3, 1965).