The Board of Finance of the City of Baltimore is hereby designated as the agency of the Mayor and City Council of Baltimore which is authorized to adopt rules, regulations or guidelines covering the exercise of the investment authority granted to the Treasurer of Baltimore City by Chapter 755 of the Laws of Maryland of 1974. City Code, 1976/83, art. 5, §21 Ord. 74-749 The State enabling law to which the preceding section refers, State <cite data-path="|95">Article 95</cite>, §22A, was repealed by Chapter 319, Laws of Maryland 1997. But see <cite data-path="|5|§5-2">§ 5-2 of this subtitle</cite> below.

The Mayor and City Council of Baltimore shall be governed by a local government investment policy that is consistent with and complies with the local government investment guidelines adopted in under State Code <cite data-path="|95|§22F">Article 95, § 22F</cite>. The Board of Finance shall adopt and implement the local government investment policy for Baltimore City. Any amendments to the City’s local government investment policy:shall be consistent with the local government investment guidelines; and shall be submitted to the State Treasurer in accordance with State Code <cite data-path="|95|§22F">Article 95, § 22F</cite>. Consistent with the requirements of this section, the Board of Finance shall amend the City’s local government investment policy to be consistent with Subtitle 29 {“Commercial Non-Discrimination Policy”} of <cite data-path="|5">this article</cite> and to ensure that no City funds are invested in or through business entities that are in violation of the City’s Commercial Non-Discrimination Policy. City Code, 1976/83, art. 5, §22 Ord. 95-611 Ord. 06-186