Bill Summary for S 49 (2019-2020)

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Bill: TOWN OF CHAPEL HILL INVESTMENTS.

Summary date: 

Feb 12 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 49 (Local) Filed Tuesday, February 12, 2019
AN ACT AMENDING THE CHARTER OF THE TOWN OF CHAPEL HILL TO AUTHORIZE THE TOWN TO INVEST EMPLOYEE BENEFIT FUNDS HELD IN TRUST IN ONE OR MORE OF THE TYPES OF SECURITIES OR OTHER INVESTMENTS AUTHORIZED BY STATE LAW FOR THE STATE TREASURER.
Intro. by Foushee.

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Bill summary

Amends SL 1975-473 Chapter IV, of the Charter of the Town of Chapel Hill, as title indicates. Adds new Article 5, Section 4.30, allowing the Town of Chapel Hill to invest or reinvest any of the employee benefit funds held in trust, risk reserve funds, and capital reserves into one or more of the types of securities or other investments authorized by State law for the State Treasurer.