HomeMy WebLinkAboutORD 832 (1980) 1 ORDINANCE NO. 832
2 AN ORDINANCE OF THE CITY OF TUSTIN,CALIFORNIA,
AMENDING THE TUSTIN CITY CODE RELATIVE TO ISSU-
5 ANCE OF WARRANTS AND AUTHORIZING DEPOSIT OF SUR-
PLUS FUNDS.
5 The City Council of the City oi Tustin ordains that Part I of Chapter 6 of
6 the Tustin City Code, Section 1611 et seq. is hereby amended to read as follows:
7 CHAPTER 6
8 FINANCE
9 PART I GENERAL
10 1611 (a) AUTHORIZATION FOR CHECKS AND WARRANTS
Z21 No check, order or warrant upon the City Treasury shall be
~12 drawn except upon and in accordance with the terms and provisions of a regularly
215 adopted ordinance, resolution or minute order of the City Council and when there
14 are sufficient unencumbered funds available to the City Treasury.
15 (b) FASCIMILE SIGNATURES
216 The .depository or depositories of the City, designated by the
Z7 City Treasurer, are hereby requested, authorized and directed to honor all checks,
18 drafts or other orders for 'the payment of money drawn in the City~s name on its
19 account, including those drawn to the individual order of any person or persons
~0 whose names appear thereon as signer or signers thereof, when bearing the
~1 manually-affixed or facsimile signature of any two (2) of: the City Administrator,
~2 City Clerk, City Treasurer, and any other person or persons designated by
25 resolution or minute order of the City Council. Provided, however, that all checks
~4 and warrants for any sum in excess of Three Thousand Dollars ($3,000.00) shall
~5 have at least one (1) manually-affixed signature- The designated depository shall
~6 be entitled to honor and to charge the City for all such checks, drafts or other
27 orders for the payment of money.
~8 1612 INVESTMENT OF FUNDS
~9 (a) Surplus. In the discretion of the City Treasurer, any
~0 surplus funds that are not needed for the immediate operation of the City shall be
51 invested to bring the maximum legal and safe return to the City-
~2 (b) State Compliance. All investments shall be made in
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1 accordance with the provisions of the laws of the State of California, and no other
2 investments except those so authorized shall be utilized.
3 '(c) Report to Council. Periodic reports shall be made to the
4 Council as to the nature of the investments and the returns thereon, and at such
5 other times as the Council may ask for such reports.
6 PASSED AND ADOPTED at a regular meting of the City Council of the
7 City of Tustin, California, held on the 18 day of August , 1980.
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ATTEST:
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CITY CLERk'
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T/R/Surplus D:2
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STATE OF CALIFORNIA )
COD~TY OF ORANGE ) SS
CITY OF TUSTIN .)
MARY E. WYNN, City Clerk and ex-officio of the City Council of the City~
Tustin, California, does hereby certify that the whole number of members
of the City CoUncil of the City of Tustin is five; that the above and fore-
going Ordinance No. 832 was duly and regularly introduced and
read at a regular meeting of the City Council held on the 4th day of
August , 1980, and was given its second reading and duly passed and
adopted at a regular meeting held on the 18th day of August ,
1980, by the following vote:
AYES ~ COUNCILMEN: EDGAR, HOESTEREY, SHARP, KENNEDY
NOES : COUNCILMEN: NONE
ABSENT: COUNCILMEN: SALTARELLI
MARY E. WYNN lerk~ ~
City of Tustin,California
PUBLISH TUSTIN NEWS:
August 28, .1980