Section 2-501 Administration.

a)    Columbia Trust accounts shall be established for receipt of unrestricted charitable contributions made to the Columbia Trust.  Assets in the Columbia Trust shall be commingled and invested in a way that provides for the growth and security of the Columbia Trust.

b)    The city council or city manager may establish individual funds or accounts in the Columbia Trust for special purposes or to receive restricted gifts or contributions. Restricted gifts or special purpose accounts shall be managed in a fiscally advantageous manner and in compliance with the restrictions or special purposes.

c)    All Columbia Trust assets shall be managed and accounted for according to procedures approved by the city manager.  The city manager shall report the status of the Columbia Trust to the city council annually.

(Ord. No. 15993, § 1, 5-3-99)