HomeMy WebLinkAbout2869 AN ORDINANCE establishing a committee to handle the
acquisition and disposal of investments for the var-
ious funds of the City of Bremerton, and declaring an emergency.
THE CITY OF BRE~ERTON DOES ORDAIN:
SECTION 1. There is hereby established an Investment Committee
consisting of the Commissioner of Finance and Accounting, the City Clerk,
and the City Treasurer.
SECTION 2. Such committee shall determine the amount of money
available in each fund for investment purposes and make the investments
authorized as indicated in RCW 35.39.030 as now or hereafter amended, and
the provisions of Section 3, Chapter 33, Washington Laws of 1969, let
Extraordinary Session, without the consent of the legislative authority
for each investment.
SECTION 3. Such committee shall make a monthly report of all
investment transactions to the City Council.
SECTION 4. The City Council, or the committee provided for in
Section i of this Ordinance, may at any time convert any of its invest-
ment securities, or any part thereof, into cash.
SECTION 5. There exists~ and is hereby declared to exist, an
emergency, and this ordinance is necessary for the immediate preservation
of the public peace, health and safety of the citizens of Bremerton~ and
shall be in full force and effect immediately upon passage and publication.
PASSED on first reading by the City Council of the City of Brem-
erton, signed by the Nayor and attested~by the City Clerk in authentication
of such passage this ~. day of _~/~~, 19 ~.~