Funds Commission
Duties
Supervision and control over all trust, perpetuity, and investment funds of the City and such pension funds as shall be placed in its custody.
Appointment
Appointed by Mayor and confirmed by Council. Whenever the Mayor does not appoint a member within 45 days after vacancy occurs, the Council shall make such appointment.
Term
Four-year staggered terms expiring January 28 and until their successors are appointed and qualified. Appointments to fill vacancies shall be for the unexpired term of office being filled. Not more than one term shall expire in any year.
Commissioners are limited to two full consecutive terms, with one term intervening before becoming eligible for reappointment.
Composition
Five (5) members, consisting of one (1) bank official, two (2) citizens, the City Attorney and City Treasurer. Each member is prohibited from engaging in any activity which could result in conflict of interest and must make an annual statement of financial disclosure.
Governed By
Article V, Section 41(a) of City Charter, as amended 11-4-1969, effective 1-29- 1970. Council Policy 000-13. Resolution 218251, 4-27-1977.
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