A BILL TO BE ENTITLED
AN ACT concerning investments of the city of charlotte and mecklenburg county.
The General Assembly of North Carolina enacts:
SECTION 1.  Chapter 8 of the Charter of the City of Charlotte, being S.L. 2000‑26 as amended, is amended by adding a new article to read:
"ARTICLE VII. INVESTMENT AUTHORITY.
"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 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)."
SECTION 2. In addition to the authority granted in G.S. 159‑30, the County of Mecklenburg, or any governing body, agency, person, or other corporation that contracts with Mecklenburg County, may invest and reinvest any of the County's employee benefit funds held in trust, risk reserve funds, and capital reserves, as designated from time to time by the Mecklenburg County Board of Commissioners, 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). This authority is granted, notwithstanding the provisions of G.S. 153A‑93, 153A‑149, 159‑18, 159‑30, 159‑31, or any other provision of law.
SECTION 3.  This act is effective when it becomes law.