HomeMy WebLinkAbout2344ORDINANCE NO. 13L4
AN ORDINANCE of the City Council of the
City of Port Angeles establishing a
Finance Committee to review the
financial operation of the City and
provide for the filing of an annual
report covering the depositing of
public funds in financial institutions,
amending Sections 2 and 3 of Ordinance
1882 and Sections 3.06.020 and 3.06.030
of the Port Angeles Municipal Code.
WHEREAS, the legislative body of a municipal corpora-
tion is required by law to establish the standards governing the
investment of its funds and has the authority to delegate said
function after establishing these standards; and
WHEREAS, a municipal corporation is required by Chapter
42.17 RCW to report information regarding investments to the
Public Disclosure Commission; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PORT
ANGELES as follows:
Section 1. Section 2 of Ordinance 1882 and Section
3.06.020 of the Port Angeles Municipal Code are each hereby
amended to read as follows:
3.06.020 Finance Committee Established. There is
hereby established a Finance Committee to be composed of three
Councilmembers, the City Manager, Director of Finance and Admin-
istrative Services and the City Treasurer. The duties of the
Committee are as follows:
A. To review the financial operation of the City and to
recommend such policies from time to time to the City Council as
required to improve the financial operation of the City.
B. To review the investment program of the City and to act
in an advisory capacity to the Director of Finance and Administra-
tive services and City Treasurer.
C. To recommend, in accordance with RCW 35A.40.030, to the
City Council the bank or banks which shall be the depository of
City Funds.
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Section 2. Section 3 of Ordinance 1882 and Section
3.06.030 of the Port Angeles Municipal Code are each hereby
amended to read as follows:
3.06.030 Report to State Commission. The City
Treasurer shall, on or before April 15th of each calendar year,
file with the Public Disclosure Commission all necessary state-
ments required under RCW 42.17.245.
Section 3, This Ordinance shall take effect as
provided by law.
PASSED by the City Council of the City of Port Angeles
at a regular meeting of said Council held on the tL_ day of
ATTEST:
Mer'i A. Lannoye, City Cl rk
APPROV, AS TO FORM:
, 1985.
Craig D. l ut , City Attorney
PUBLISHED: , ( 1CI$T
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