§ 2-97. Investment procedures.

Latest version.

(a)

Written investment procedures must be approved by the investment committee for the capital reserve fund or the pension plan, they have no independent authority to expend said funds.

(b)

The investment committee shall provide for immediate release of meeting minutes, which shall be distributed to the full governing body.

(c)

Any two (2) members of the committee may request a special meeting, and four (4) members shall constitute a quorum. The committee shall establish its own rules of procedure. The committee shall perform such other duties as may be assigned, or upon motion of the governing body.

(Ord. of 2-26-96)

                    
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