A CHARTER ORDINANCE EXEMPTING THE CITY OF PARK CITY, KANSAS FROM K.S.A. 12-1675 PROVIDING SUBSTITUTE AND ADDITIONAL PROVISIONS ON THE SAME SUBJECT, RELATING TO INVESTMENT OF PUBLIC MONIES OR FUNDS WHICH ARE NOT IMMEDIATELY REQUIRED FOR THE PURPOSES FOR WHICH THE MONIES WERE COLLECTED OR RECEIVED.

BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF PARK CITY, KANSAS:

Section 1.  The City of Park City, Kansas, by the power vested in it by Article 12, Section 5, of the Constitution of the State of Kansas, hereby elects to exempt itself from and make inapplicable to it Kansas Statutes Annotated 12-1675, and provide substitute and additional provisions as hereinafter set forth in this Ordinance.  Such statutory section is applicable to this City but it not applicable uniformly to all cities.

Section 2.  The Governing Body of the City of Park City, Kansas may invest any monies or funds which are not immediately required for the purpose for which they were collected or received, and the investment of which is not subject to or regulated by any other Ordinance or Statute.  Such monies or funds shall be invested only in commercial banks or trust companies, savings and loan associations or Federally chartered savings banks which have their home office located in Sedgwick county, Kansas.  Said funds may be invested in those institutions by the City Clerk of Park City, Kansas using any of the various investment options available with those institutions in accordance with then current city policy.

(05-14-1985)