Dallas County |
Code of Ordinances |
Part II. County Administrative Policies And Procedures |
Chapter 70. Financial Matters |
Article V. Investment Of County Funds |
§ 70-470. Methods of investment
(a) Internal investments.
(1) The county treasurer is authorized to internally electronically wire transfer funds for county investments from currently established funds, plus any newly established county funds, within the depository bank.
(2) The county treasurer is authorized to utilize an internal electronic banking system for the investment of such funds by means of an automated clearing house (ACH) program, customer direct access (CDA) program, customer direct link (CDL) program, or similar program, or county checks, with the depository bank.
(3) The purpose of the internal electronic wire transfer banking system shall be to allow the county treasurer to enhance the time frame for investments, for elimination of checks to make investments of funds within county accounts, and to return funds to primary county accounts.
(4) The county treasurer is authorized to internally electronically wire transfer and credit principal, plus interest earnings, to county funds currently established, plus any newly established county funds, as such investments mature.
(b) External investments.
(1) The county treasurer is authorized to utilize an electronic wire transfer program, i.e., Automated clearing house (ACH), Fed Wire System, or other officially approved wire transfer program to disburse funds for investments from the county depository bank to authorized investment institutions as set forth in section 70-469 and in accordance with state law. Such program shall be operated under guidelines and controls established and mutually agreeable between the county auditor and county treasurer. Properly approved county checks may also be utilized for such investments if required.
(2) The county treasurer is further authorized to accept electronic wire transfer of all county investments, including principal and interest, as such investments mature, for the proper internal disbursement to county funds.
(Ord. No. 99-2004, § X, 10-26-1999; Ord. No. 2000-2287, § X, 11-14-2000)