HomeMy WebLinkAboutORD FOR ADOPTION 08-18-80ORDINANCES FOR ADOPTION
NO. 1
8~18~80
AGENDA ITEM:
ORDINANCE NO. 832
An Ordinance Qf the City of Tustin, California, AMENDING THE TUSTIN
CITY CODE RELATIVE TO ISSUANCE OF WARRANTS AND AUTHORIZING DEPOSIT
OF SURPLUS FUNDS
BACKGROUND:
Ordinance No. 832 had first reading by title only and introduction
at the'August 4, i980 meeting.
RECOMMENDATION:
M. O. - that Ordinance No. 832 have second reading by title only.
Mi O. - that Ordinance No. 832 be passed and adopted.
(Roll Call Vote)
ORDINANCE NO. 832
AN ORDINANCE OF THE CITY OF TUSTIN,CALIFORNIA,
AMENDING THE TUSTIN CITY CODE RELATIVE TO ISSU-
ANCE OF WARRANTS AND AUTHORIZING DEPOSIT OF SUR-
PLUS FUNDS.
§ The City Council of the City of Tustin ordains that Part I of Chapter 6 of
6 the Tustin City Code, Section 161t et seq. is hereby amended to read as follows:
? CHAPTER 6
8 FINANCE
9 PART I GENERAL
10 1611 (a) AUTHORIZATION FOR CHECKS AND WARRANTS
13. No check, order or warrant upon the City Treasury shall be
3.2 drawn except upon and in accordance with the terms and provisions of a regularly
Z3 adopted ordinance, resolution or minute order of the City Council and when there
24 are sufficient unencumbered funds available to the City Treasury.
35 (b) FASCIMILE SIGNATURES
3.6 The depository or depositories of the City, designated by the
3.? 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
:[9 account, including those drawn to the individual order of any person or persons
20 whose names appear thereon as signer or signers thereof, when bearing the
21 manually-affixed or facsimile signature of any two (2) of: the City Administrator,
22 City Clerk, City Treasurer, and any other person or persons designated by.
2~ resolution or minute order of the City Council. Provided, however, that all checks
24 and warrants for any sum in excess of Three Thousand Dollars ($3,000.00) shall
25 have at least one (1) manually-affixed signature. The designated depository shall
26 be entitled to honor and to charge the City lot all such checks, drafts or other
27 orders for the payment of money.
28 1612 INVESTMENT OF FUNDS
29 (a) S. urplu~. In the discretion of the City Treasurer, any
30 surplus funds that are not needed for the immediate operation of the City shall be
3]. 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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accordance with the provisions of the laws of the State of California~ and no other
investments except those so authorized shall be utilized.
'(el Report to Council. Periodic reports shall be made to the
Council as to the nature of the investments and the returns thereon~ and at such
other times as the Council may ask for such reports.
PASSED AND ADOPTED at a regu]ar meting of the City Council of the
City o! Tustin, Calilornia~ held on the day of ~ 1980.
ATTEST:
MAYOR
CITY CLERK
3GR:se:D:6/27/$0
T/R/Surplus D:2
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