Date Established/Background:  The Investment Advisory Board was established by the City Commission on April 28, 1980 in accordance with the Provisions of Public Act 20 of 1943, as amended.
Mission: The Board reviews and makes decisions concerning invested City funds.
Corresponding MCL#, City Charter Citation, and/or City Code:  MCL 129.91-129.97a; City Commission Policy #2008-01; City Commission resolution of 12-21-81.
Number of Members & Term of Office:  The Board has five members, of which three serve three-year terms and two appointed indefinitely by virtue of their positions as Chief Financial Officer and Treasurer.
Do members serve until a replacement is appointed? No
Quorum Requirement:  Per section 13-4 of the City Charter, a quorum of any board, commission, or committee created by or pursuant to this charter shall be a majority of the members of such board, commission, or committee in office at the time, but not less than two members.
Meetings Held:  The Board meets quarterly at 8:00 a.m. in City Hall Room 103.
Bylaws: Yes