HomeMy WebLinkAbout0144 Investment of City Funds 1975ORDINANCE NO. 144
AN ORDINANCE OF THE CITY OF CHUBBUCK, IDAHO,
SPECIFYING THE PLACE OR PLACES WHERE THE CITY
TREASURER SHALL DEPOSIT FUNDS BELONGING TO THE
CITY; AUTHORIZING THE CITY TREASURER TO MAKE
CERTAIN INVESTMENTS OF SUCH FUNDS PURSUANT TO
RESOLUTION OF THE CITY COUNCIL; AND PROVIDING
WHEN THIS ORDINANCE SHALL BECOME EFFECTIVE.
BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF
CHUBBUCK, IDAHO:
SECTION 1: That funds belonging to the City which come
into the possession of the City Treasurer shall be deposited in
one or more "designated depositories" as defined and regulated by
Title 57, Chapter 1 of the Idaho Code as now in effect and as it
may hereafter be amended° The identity of such designated depos-
itories shall be indicated from time to time as required by reso-
lution of the City Council.
SECTION 2: That, notwithstanding the foregoing section,
the City Treasurer may invest city funds in the additional manner
prescribed by Idaho Code section 50-1013, as now in effect and as
it may hereafter be amended, when directed and empowered to do so
by resolution of the City Council.
SECTION 3: That the rule requiring ordinances to be readl
on three separate days is hereby dispensed with, and this ordinance~
shall become effective upon its approval and publication as provided
by law. '
PASSED BY THE MAYOR AND COUNCIL of the City of Chubbuck,
ATTEST:
City Clerk
~ayor z>z"
Idaho, this llth day of March, 1975o