Bill Text: NC S276 | 2013-2014 | Regular Session | Amended
Bill Title: Charlotte Charter/Investments
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2013-03-13 - Ref To Com On State and Local Government [S276 Detail]
Download: North_Carolina-2013-S276-Amended.html
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2013
S 1
SENATE BILL 276
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Short Title: Charlotte Charter/Investments. |
(Local) |
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Sponsors: |
Senator Clodfelter (Primary Sponsor). |
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Referred to: |
State and Local Government. |
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March 13, 2013
A BILL TO BE ENTITLED
AN ACT concerning investments of the city of charlotte.
The General Assembly of North Carolina enacts:
SECTION 1. Section 8.141 of the Charter of the City of Charlotte, being S.L. 2000‑26, as amended by S.L. 2007‑255, reads as rewritten:
"Section 8.141. Certain investments. In addition
to the authority granted in G.S. 159‑30, the City may invest and
reinvest any of the City's employee benefit funds held held (i) in
trust, risk reserve funds, cemetery perpetual care funds, and capital reserves,
as designated from time to time by the City Council, in one or more of the
types of securities or other investments authorized by State law for the State
Treasurer in G.S. 147‑69.2(b)(1)‑(6) and (8).(8);
and (ii) in securities or other investments which meet the "prudent person"
standard of care consistent with fiduciary responsibilities to act with care,
skill, prudence, and diligence under circumstances prevailing to achieve
portfolio risk and return objectives."
SECTION 2. This act is effective when it becomes law.
