A. The Treasurer is authorized to take any and all such actions in the name of and on behalf of the City in order to utilize investment opportunities available at banking institutions approved by the Utah Money Management Act. Such actions shall include but not be limited to setting up sweep accounts, zero balance accounts, automatic transfer of funds accounts and similar deposit and investment arrangements, entering into transactions similar to the foregoing, and performing such actions as may be required in connection with any of the foregoing. From time to time the Treasurer shall present to the City Council for approval all necessary resolutions for designation of depository institutions and authorized signatories.

B. Agreements, instruments, or documents properly executed and delivered to any banking institution approved by the Utah Money Management Act by the City Treasurer shall be binding and enforceable obligations of the City, enforceable in accordance with their respective terms. (Ord. 18-04 (part), 2018: Res. 05-99, 1999)