1048_00001ORDINANCENO.1048
ANORDINANCEADDINGSECTION2.12.040 TOTHEMOSESLAKEMUNICIPALCODE
THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTON,DOORDAINAS FOLLOWS:
Section 1.There is added to Moses Lake Municipal Code Chapter 2.12 a new section2.12.040 as follows:
2.12.040 InvesRtme
a ter 35.39,as now codified or hereafter amended,provides acity.may invest excess funds,may designate an investment officialandmaydepositcertaininvestmentreturnsintothecurrentexpensefund.
B.Pursuant to RCW35.39.032,as now codified or hereafter amended,the Finance Director is authorized to determine the amount of moneyavailableineachfundforinvestmentpurposesandtomaketheinvestmentsallowedbylaw.The Finance Director shall make amonthlyreportofallinvestmenttransactionstotheCouncil.
C.Pursuant to RCW35.39.034,as now codified or hereafter amended,the Finance Director is directed to deposit all income derived frominvestmentsintothecurrentexpensefundexceptforthatincomerequiredbytheLawsoftheStateofWashingtonortheUnitedStatestobereturnedtotheparticipatingfund.
Section 2.This ordinance shall take effect and be in force five (5)days afteritspassageandpublicationasprovidedbylaw.
Adopted by the City Council and signed by its Mayor on February 9 ,1982.
I /Mayor /ATTEST:
City Clerk
AS TO
/City Attorney
Publish:February 11,1982
i