80-8788 Investment FundsORDINANCE NUMBER 80-8788
(Published in The Salina Journal MCV.y 2 , 1979)
AN ORDINANCE AUTHORIZING THE INVESTMENT OF IDLE FUNDS OF THE CITY AND
SPECIFYING THE TYPES OF INVESTMENTS; AMENDING SECTION 2-187 OF THE SALINA CODE
AND REPEALING THE EXISTING SECTION.
BE IT ORDAINED by the Governing Body of the City of Salina, Kansas:
Section 1. That Section 2-187 of the Salina Code be and the same is
hereby amended to read as follows:
"Section 2-187. Authorized.
Temporary idle moneys of the city not currently needed may, in
accordance with the procedure hereinafter prescribed, be invested in:
Sec. 2-187(1). Direct obligations to the United States Government
which mature within one year from date purchased and which are
guaranteed as to principal by the United States Government; or
Sec. 2-187(2). Temporary notes of the city, issued pursuant to
K.S.A. 10-123. The provisions hereof shall not apply to any funds of
the city, the investment of which is expressly authorized or limited
or prohibited by the statutes of the State of Kansas; or
See. 2-187(3). In interest bearing certificates of deposits of
the depository banks of the city; or
See. 2-187(4). In interest bearing accounts with federally
insured savings and loan associations located within the city; or
Sec. 2-187(5). No -fund warrants of the city, or the Salina
airport issued pursuant to an order of the Board of Tax Appeals of the
State.
See. 2-187(6). In interest bearing accounts with federally
insured banks located within the city."
Section 2. That Section 2-187 of the Salina Code is hereby repealed.
Section 3. That this ordinance shall be in full force and effect from
and after its adoption and publication in the official city newspaper.
Introduced: April 21, 1980
Passed: April 28, 1980
(SEAL)
ATTEST:
D. L. Harrison, City Clerk