§ 5.10.020. Delegation of authority.

Latest version.

Management responsibility for the investment program is hereby delegated to the director of finance who shall establish written procedures for the operation of the investment program, consistent with this investment policy. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the director of finance. The director of finance shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinates.

(Ord. No. 89-7, § 1(part), 1989)

                    
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