Chapter 3.88 Investment Advisory Committee


- Note
(New Chapter added by Ordinance No. 135093; amended by 143470 and 151419, effective Apr. 16, 1981.)

3.88.010 Created - Organization.

 

(Amended by Ordinance Nos. 167877 and 181483, effective January 18, 2008.)  There hereby is created an advisory committee to the Commissioner In Charge, the Director of the Office of Management and Finance and the city Treasurer to be known as the Investment Advisory Committee.  The Committee shall consist of a minimum of three public members who shall serve without compensation.  The Commissioner In Charge, with approval by the Council, shall appoint the public members of the Committee to serve for 2-year terms that are renewable.  The Debt Manager shall be an ex officio member of the Committee.  In case of the resignation, death or inability to serve of any member, the Commissioner may appoint a successor to serve out the unexpired term subject to approval by the Council.


3.88.020 Procedure and Rules.

 

(Amended by Ordinance Nos. 167877 and 181483, effective January 18, 2008.)  The Investment Advisory Committee shall establish its own rules, bylaws and provide the procedure for all matters for consideration or action by the Committee.  The Committee shall hold at least three meetings per year at such times as is set by the body and at any other time at the call of the Chair.  The Office of Management and Finance shall provide clerical staff.


3.88.030 Duties.

 

(Amended by Ordinance Nos. 167877 and 181483, effective January 18, 2008.)  The Investment Advisory Committee shall advise the Commissioner In Charge, the Director of the Office of Management and Finance, the City Council and the City Treasurer of the City on: investment policies and investment practices of the City; maximum bank balances to be maintained by the City; and such other investment matters as the Commissioner in Charge of the Office of Management and Finance, the City Council or the Director of  the Office of Management and Finance may request.