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~ ~ _ - , . . ~ . • ORDINANCE N0. 3 0 3 4
AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, DESIGNATING PURSUANT TO THE
PROVISIONS OF CHAPTER 35.39 OF THE REVISED CODE OF WASHINGTON,
THE AUBURN CITY FINANCE DIRECTOR AS THE CITY OFFICIAL FOR THE
CITY OF AUBURN AUTHORIZED TO INVEST CITY OF AUBURN MONIES IN
INACTIVE FUNDS OR IN OTHER FUNDS IN EXCESS OF CURRENT NEEDS
IN AUTHORIZED DEPOSITORIES OR SECURITIES SUBJECT TO APPROVAL
OF THE AUBURN CITY COUNCIL.
WHEREAS, R.C.W. 35.39.030 of the laws of the State of Washington, authorizes
cities such as the City of Auburn, Washington, to invest any portion of its monies
in its inactive funds or in other funds in excess of current needs in:
(1) United States bonds;
(2) United States certificates of indebtedness;
(3) Bonds or warrants of the State of Washington;
(4) General obligation or utility revenue bonds or warrants of
the City of Auburn or or any other city or town in the State
of Washington;
(5) Its own bonds or warrants of a local improvement or condemnation
award district which is within the protection of the local im-
provement guaranty fund law; and
(6) In any other investments authorized by law for any other taxing
districts.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. Pursuant to the provisions of R.C.W. 35.39.032, the Finance
Director of the City of Auburn, Washington, is herewith appointed and authorized
to make investments of inactive funds or other funds in excess of current needs of
the City of Auburn in securities as outlined in R.C.W. 35.39.030 as said Finance
Director determines when amounts of money are available in city funds for invest-
ment purposes without the consent of the City Council of the City of Auburn, provided
however, the Finance Director shall make a monthly report of all such investment
transactions to the Auburn City Council and provided further, that the Auburn Finance
Director may at any time convert any of the City of Auburn's investment securit9es
or any part thereof, into cash.
11-25-75
Page One
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Section 2. This Ordinance shall take effect and be in force five (5)
days after its passage, approval and publication, as provided by law.
INTRODUCED: DECEMBER 1, 1975
PASSED: DECEMBER 1, 1975
APPROVED: DECEMBER 1, 1975
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ATTEST:
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City Clerk
APP VED AS TO FORM:
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ILI
City Attorney
PUBLISHED: DECfMBER 5, 1975
11-25-75
Page TWo & Last
~ . . , ~ • . - . STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
I, Dawn L. Hodson, the duly appointed, qualified and acting City C1erk of
t1ie City of Auburn, a Municipal Corporation and Code City, situate in tlze County
of King, State of Washington, do hereby certify that the foregoing is a fu11,
true and correct copy of Ordinance No.3034 of the ordinances of the City of
Auburn, entitled "AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, DESIGNATING
PURSUANT TO THE PROVISIONS OF CHAPTER 35.39 OF THE REVISED CODE OF WASHINGTON,
THE AUBURN CITY FINANCE DIRECTOR AS THE CITY OFFICIAL FOR THE CITY OF AUBURN
AUTHORIZED TO INVEST CITY OF AUBURN MONIES IN INACTIVE FUNDS OR IN OTHER FUNDS
IN EXCESS OF CURRENT NEEDS IN AUTHORIZED DEPOSITORIES OR 5ECURITIES SUBJECT TO
APPROVAL OF THE AUBURN CITY COUNCIL."
I furtlier ccrtify that said Ordinance No. 3034 was duly passed by the
Council and approved by the Mayor of the said City of Auburn and pubZished as
provided by Iaw in the Auburn Globe-News, a weekly newspaper published in the
City of Auburn, and of general circulation therein, on the 5th day of
December , A.D., 19 75. _
WITNESS my hand and the official seal of_ the City of Auburn, this 5th
day af December , A.D., 19 75.
O
CITY CLER OF THE CITY OF AUBURN