RCW 35.39.032
Approval of legislative authority—Delegation of authority—Reports.
No investment shall be made without the approval of the legislative authority of the city or town expressed by ordinance: PROVIDED, That except as otherwise provided by law, the legislative authority may by ordinance authorize a city official or a committee composed of several city officials to determine the amount of money available in each fund for investment purposes and make the investments authorized as indicated in RCW 35.39.030 as now or hereafter amended and the provisions of RCW 35.39.034, without the consent of the legislative authority for each investment. The responsible official or committee shall make a monthly report of all investment transactions to the city legislative authority. The legislative authority of a city or town or city official or committee authorized to invest city or town funds may at any time convert any of its investment securities, or any part thereof, into cash.
[ 1969 ex.s. c 33 § 2.]
Structure Revised Code of Washington
Chapter 35.39 - Fiscal—Investment of Funds.
35.39.030 - Excess or inactive funds—Investment.
35.39.032 - Approval of legislative authority—Delegation of authority—Reports.
35.39.050 - Construction—1965 c 7.
35.39.060 - Investment of pension funds.
35.39.070 - City retirement system—Registration and custody of securities.
35.39.080 - City retirement system—Investment advisory committee.
35.39.090 - City retirement system—Investment advisory committee—Powers and duties.
35.39.100 - City retirement system—Investment advisory committee—Employment of members.
35.39.110 - City retirement system—Investment advisory committee—Liability of members.