D.C. Mun. Regs. r. 1-4800

Current through Register Vol. 71, No. 24, June 14, 2024

Rule 1-4800 - PLACEMENT OF INVESTMENTS

4800.1

The Chief Financial Officer of the District of Columbia shall invest all deposited public funds which are not required to be disbursed immediately.

4800.2

Public funds shall be invested in obligations of the United States government or its agencies directly or through repurchase agreements secured by such obligations.

4800.3

The investments shall have the longest maturities possible under the circumstances.

4800.4

The period for which an investment may be held shall not exceed ninety-one (91) days.

4800.5

Each investment shall be placed with the eligible financial institution which has made the highest interest rate yield bid in response to a solicitation by the Chief Financial Officer of the District of Columbia.

D.C. Mun. Regs. r. 1-4800

Final Rulemaking published at 32 DCR 5098 (September 6, 1985)

Authority: Pursuant to section 424 of the District of Columbia Home Rule Act of 1973, as amended by Pub. L. No. 109-356, approved October 16, 2006 (D.C. Official Code 1-204.24a et seq.), all duties of the Deputy Mayor for Financial Management have been transferred to the Chief Financial Officer of the District of Columbia.