Source: https://development.code.dccouncil.us/dc/council/code/sections/47-351.03.html
Timestamp: 2019-04-23 20:43:50+00:00

Document:
D.C. Law Library - § 47–351.03. General deposit and investment requirements.
↪ § 47–351.03. General deposit and investment requirements.
§ 47–351.04. Eligibility requirements; bidding; awards process.
(a) Unless otherwise provided by law, the Mayor, or the CFO pursuant to § 47-351.02(c), shall invest and deposit District funds in, and obtain financial services from, eligible financial institutions.
(b) The Mayor, or the CFO pursuant to § 47-351.02(c), shall determine what amount of District funds are needed immediately and maintain deposit funds in amounts great enough to satisfy that need. The Mayor, or the CFO pursuant to § 47-351.02(c), shall invest all other funds.
(9) Money market funds registered with the Securities and Exchange Commission and which meet the requirements of Rule 2(a)(7) of the Investment Company Act of 1940, approved August 22, 1940 (54 Stat. 789; 15 U.S.C. § 80a-1 et seq.).
(2) Twenty-five percent of the total District funds available for deposit or investment as of the date of such deposit or placement and as of the end of each fiscal quarter thereafter.
This section is referenced in § 47-351.11.

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