HomeMy WebLinkAboutORD FOR INTRODUCTION 08-04-80Ordinances for Introduction
No. 1
8-4~80
AGENDA ITEM:
ORDINANCE NO. 832
An Ordinance of the City of Tustin, California, AMENDING THE TUSTIN
CITY CODE RELATIVE TO ISSUANCE OF WARRANTS AND AUTHORIZING DEPOSIT
OF SURPLUS FUNDS
BACKGROUND:
This ordinance was drafted by the City Attorney at the request of
Ed Bushong, Finance Director. This ordinance has been approved by
the Finance Director and the City Administrator.
RECOMMENDATION:
M. O. - that Ordinance No. 832 have first reading by title only.
M. O. - that Ordinance No. 832 be introduced.
1
2
5
6
8
9
10
11
12
14
15
16
[[7
18
19
20
21
22
24
25
27
28
30
31
ORDINANCE NO. $32
AN ORDINANCE OF THE CITY OF TUSTIN,CALIFORNIA,
AMENDING TIlE TUSh'IN CITY CODE RELATIVE TO ISSU-
ANCE OF WA~.RANTS AND AUTHOD. IZING DEPOSIT OF SUR-
PLUS FUNDS.
The City Council of the City of Tustin ordains that Part I of Chapter 6 of
the Tustin City Code, Section 1611 et seq. is hereby amended to read as follows:
CHAPTER 6
FINANCE
PART I GENERAL
1611 (a) AUTHORIZATION FOR CHECKS AND WARRANTS
No check, order or warrant upon the City Treasury shall be
drawn except upon and in accordance with the terms and provisions of a regularly
adopted ordinance, resolution or minute order of the City Council and when there
are sufficient unencumbered funds available to the City Treasury.
(b) FASCIMILE SIGNATURES
The depository or depositories of the City, designated by the
City Treasurer, are hereby requested, authorized and directed to honor all checks,
drafts or other orders for the payment of money drawn in the City's name on its
account, including those drawn to the individual order of any person or persons
whose names appear thereon as signer or signers thereof, when bearing the
manually-affixed or facsimile signature of any two (2) of: the City Administrator,
City Clerk, City Treasurer, and any other person or persons designated by
resolution or minute order of the City Council. Frovided, however, that all checks
and warrants for any sum in excess of Three Thousand Dollars ($3,000.00) shall
have at least one (1) manually-affixed signature. The designated depository shall
be entitled to honor and to charge the City for all such checks, drafts or other
orders for the payment of money.
1612 INVESTMENT Of FUNDS
(a) Surplu.s. In the discretion of the City Treasurer, any
surplus funds that are not needed for the immediate operation of the City shall be
invested to bring the maximum legal and safe return to the City.
(b) State Compliance. All investments shall be made in
Page 1.
1
2
3
4
§
6
?
8
9
10
11
12
13
14
15
16
17
18
19
2O
21
22
23
24
25
26
27
28
29
30
31
32
accordance with the provisions of the laws of the State of California, and no other
investments except those so authorized shall be utilized.
(c) Report to Council. Periodic reports shall be made to the
Council as to the nature of the investments and the returns thereon, and at such
other times as the Council may ask for such reports.
PASSED AND ADOPTED at a regular meting of the City Council of the
City of Tustin, California, held on the day of , 1980.
ATTEST:
CITY CLERK
~JGR:$e:D:6/27/80
T/R/Surplus D:2
MAYOR
Page 2.