HomeMy WebLinkAboutORD 1164 (1996) ORDINANCE NO. 1164
AN ORDINANCE OF THE CITY OF TUSTIN, CALIFORNIA, AMENDING
CHAPTER 6 OFARTICLE 1 OF THE TUSTIN CITY CODE RELATIVE TO THE
ISSUANCE OF WARRANTS AND AUTHORIZING DEPOSIT OF SURPLUS FUNDS.
The City Council of the City of Tustin hereby ordains as
follows:
SECTION 1. Section 1611(e) and Section 1612 of Part 1 of
Chapter 6 of Article 1 of the Tustin City Code is hereby
amended to read as follows:
1611(e) Checks and Warrants
(1) No check, order or warrant upon the City
Treasury shall be drawn except upon and in accordance with the
terms and provisions of an ordinance, resolution or minute
order of the City Council, the Tustin Community Redevelopment
Agency (the "Agency"), or the Tustin Public Finance Authority
(the "Authority"), and unless there are sufficient
unencumbered funds in the fund upon which it is drawn.
(2) All'checks, orders and warrants upon the City
Treasury for payment of any money drawn in the name of the
City, the Agency, or the Authority, on its respective account,
shall bear the manually-affixed or facsimile signature of any
two (2) of: the City Manager, City Clerk, Chief Deputy City
Clerk, City Treasurer, and other person or persons designated
by resolution or minute order of the City Council, the Agency,
or the Authority. Provided, however, that all checks and
warrants for any sum in excess of Three Thousand Dollars
($3,000.00) shall have at least one manually affixed signature
and any emergency hand issued check shall have two (2)
manually affixed signatures. The designated depository shall
be entitled to honor and to charge the City, Agency, or
Authority, as applicable, for all such checks, drafts or other
orders for the payment of money.
1612 Investment of Funds
(a) Surplus. In the discretion of the City
Treasurer, any surplus funds that are not needed for the
immediate operation of the City, Agency, or Authority shall be
invested to bring the maximum legal and safe return to the
City.
(b) State and Local Compliance. All investments
shall be made in accordance with the provisions of the laws of
the State of California and the than currently adopted City
Investment Policy,' and no other investments except those so
authorized shall be utilized.
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Ordinance No. 1/~
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(c) Report to Council. Periodic reports shall be
3 made to the Council as to the nature of the investments and
4 the returns thereon, and at such other times as the Council
may ask for such reports.
5 SECTION 2. Ordinance No. 832 iS hereby repealed in its
6 entirety.
SECTION 3. If any section, subsection, sentence, clause,
7 phrase, or portion of this ordinance is for any reason held to
be invalid or unconstitutional by the decision of any court of
8 competent jurisdiction, such decision shall not affect the
validity of the remaining portions of this ordinance. The
9 City Council of'the City of Tustin hereby declares that it
would have adopted this portion thereof irrespective of the
10 fact that any one or more sections, subsections, sentences,
clauses, phrases, or portions be declared invalid or
11 unconstitutional.
12 PASSED AND ADOPTED, at a regular meeting of the City
Council for the City of Tustin on this 1st day of April, 1996.
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P~MELA STOKER, ~iTY CLERK
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City of Tustin
ORDINANCE CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY'OF "TUSTIN )
ORDINANCE NO. 1164
Pamela Stoker, City Clerk and ex-officio Clerk of the City Council of
the City of Tustin, California, does hereby certify that the whole
number of the members of the City Council of the City of Tustin is
five; that the above and foregoing Ordinance No. 1164 was introduced at
a regular meeting of the City Council held on March 18, 1996 and was
passed and adopted at a regular meeting of the City Council held on
April 1, 1996 byethe following vote:
COUNCILMEMBER AYES: Potts, Worley, Saltarelli, Thomas
COUNCILMEMBER NOES: None
COUNCILMEMBER ABSTAINED: None
COUNCILMEMBER ABSENT: Doyle
ela Stoker~ City Clerk