§ 2.40.240. Investments.  


Latest version.
  • The Trustee shall invest the trust fund, irrespective of any rules of law governing the investment of trust funds, in any manner deemed advisable and shall have the following powers, rights and duties: Subject to the provisions and limitations expressly set forth in this Chapter, the Trustee shall have, in general, the power to do and perform any and all acts and things in relation to the trust fund in the manner and to the same extent as an individual might or could do with respect to his or her own property. Without limiting the generality of the foregoing, the Trustee may invest in bonds, notes, mortgages, commercial paper, preferred stocks, common stocks or other securities, rights, obligations of property, real or personal, including shares and certificates of participation issued by investment companies or investment trusts.

(Ord. 763(part), 1978; Ord 672 Art 7, §4, 1973)