In addition to authority granted by Arizona Statutes, the Council may cause City moneys to be deposited or invested in Certificates of Deposit or other forms of deposit or investment, in any financial institution within the United States, upon sufficient security being given the City therefor by said financial institution, the policies and administration relating to such investments and security to be as provided by ordinance adopted by the Council.

(Election of 11-9-1971; election of 11-1-1983)