City of Spokane

Spokane Municipal Code

***Note: Many local criminal codes can now be located under Chapter 10.60 SMC while others are now cited under the Revised Code of Washington (RCW), which was incorporated into the municipal code in 2022. (See SMC 10.58.010). Code Enforcement, including Noise Control and Animal Regulations are located in Chapters 10.62 through 10.74.

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Title 07
Chapter 07.15
Section 07.15.010
 

Title 07 Finance

Chapter 07.15 City Investment Committee

Section 07.15.010 City Investment Committee

  1. There is established the City Investment Committee, to consist of the following:

    1. Chief Financial Officer,

    2. City Retirement Director, and

    3. City Treasurer or other Investment Officer designated by the Mayor who shall act as Committee Chairperson,

    4. One City Council Member, and

    5. An investment community professional designated by the Mayor

    who shall be appointed annually and who shall serve on the committee without additional compensation.

  2. The duties of the committee are to:

    1. determine the amount of money available in each fund for investment purposes;

    2. make the investments authorized as indicated in RCW 35.39.030 as now or hereafter amended and the provisions of RCW 35.39.034 without the consent of the City Council for each investment;

    3. convert any or any part thereof of the City’s investment securities into cash; and

    4. manage the investable assets of the City not immediately needed for City purposes.

  3. The City Investment Committee reports monthly to the City Council on all investment transactions.

Date Passed: Monday, February 1, 2016

Effective Date: Wednesday, March 16, 2016

ORD C35355 Section 2