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Chapter 3.88 Investment Advisory Committee

City Code Chapter

3.88.010 Created - Organization.

  1. An advisory committee is created to advise the Mayor, the City Administrator, and the City Treasurer, and is known as the Investment Advisory Committee. The Committee consists of a minimum of three public members who serve without compensation. The Mayor appoints the public members of the Committee to serve for two-year terms that are renewable, subject to confirmation by the Council. The Debt Manager is an advisor of the Committee. In case of the resignation, death, or inability to serve of any member, the Mayor may appoint a successor to serve out the unexpired term subject to confirmation by the Council.

3.88.020 Procedure and Rules.

  1. The Investment Advisory Committee will establish rules, bylaws, and procedures necessary to the conduct of its duties and will provide these for the City Attorney’s legal review. The Committee will hold meetings at times set by the Committee and at any other time at the call of the Chair or the Mayor. The City Administrator will provide administrative staff support.

3.88.030 Duties.

  1. The Investment Advisory Committee will advise 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 Mayor or the City Administrator may request.

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