§ 13-6 Investments; annual statement.
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 5, § 13-6 (2026)
§ 13-6 Investments; annual statement.LinkCopy Citation
The Board of Finance for Baltimore City is hereby authorized and directed to:
(1)
receive the monies directed to be paid to it by the Director of Finance;
(2)
hold and invest the same as other monies in its charge are held and invested;
(3)
retain the same as a permanent fund to be used only for the payment of claims as provided in §§ 13-2 and 13-4 of this subtitle;
(4)
keep a separate account of said fund, together with the earnings thereof, as the “Liability Reserve Fund for Commodity, Service and Construction Contracts” of the Mayor and City Council of Baltimore; and
(5)
submit annually to the Director of Finance a statement in writing showing the state and amount of said fund.
History: Ord. 86-774