CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL
COUNCIL BILL NO. O-19-87 ENACTMENT NO. ________________________
SPONSORED BY: Klarissa J. Pe?a, by request
ORDINANCE
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Amending Certain Provisions In Section 4-1-1 Et Seq., ROA 1994, The Fiscal Agent Ordinance, To Add The Chief Financial Officer As A Member Of The Investment Committee, And To Update The Types Of Investments Allowed For Cash Balances Not Required For Immediate Disbursement To Ensure This Ordinance Coincides With Recently Enacted Statutory Amendments Pertaining To Investments Of Cash Balances Not Required For Immediate Disbursement (Pe?a, by request)
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AMENDING CERTAIN PROVISIONS IN SECTION 4-1-1 ET SEQ., ROA 1994, THE FISCAL AGENT ORDINANCE, TO ADD THE CHIEF FINANCIAL OFFICER AS A MEMBER OF THE INVESTMENT COMMITTEE, AND TO UPDATE THE TYPES OF INVESTMENTS ALLOWED FOR CASH BALANCES NOT REQUIRED FOR IMMEDIATE DISBURSEMENT TO ENSURE THIS ORDINANCE COINCIDES WITH RECENTLY ENACTED STATUTORY AMENDMENTS PERTAINING TO INVESTMENTS OF CASH BALANCES NOT REQUIRED FOR IMMEDIATE DISBURSEMENT.
BE IT ORDAINED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE
SECTION 1. Section 4-1-1 et seq., ROA 1994, is amended to read:
"? 4-1-1 AUTHORITY.
The City Council, pursuant to the provisions of Article X, Section 6 of the Constitution of New Mexico, hereby enacts this article as authorized by such section and for the purpose of providing maximum local self-government.
? 4-1-2 DEFINITION.
For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BANKING SERVICE PROVIDER. Any of a group of banks or non-bank commercial entities, which, independently or in alliance with a Depository Financial Institution, provide intermediary, complementary, or end-to-end financial and informational services, technical consulting or specialized banking products.
DEPOSITORY FINANCIAL INSTITUTION. ...
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