Sec. 30-3. - Designation of investment company for handling of pension funds.
Part of the Code of Ordinances of Warwick, RI.
The text
(a)
The mayor shall have the authority to designate an investment company to purchase and invest prudently in equities and fixed income securities, using funds from police pensions I and II and the fire pension fund.
(b)
The municipal retirement board shall have the authority to designate an investment company to purchase and invest prudently in insurance contracts, equities and fixed income securities, using funds from the municipal retirement system.
(Code 1971, § 2-102)