(1) The committee shall meet at least semiannually. The county treasurer shall act as chairperson of the committee and the county executive shall act as secretary of the committee. The committee shall adopt rules of procedure, except that a quorum shall consist of all three members of the committee and action by the committee shall require a majority vote of at least two members of the committee.

(2) The committee shall keep a full and complete record of its proceedings in appropriate books of record and all such records and all correspondence relating to the committee shall be kept in the office of the county executive and shall be open to public inspection.

(3) On or before December 31st of each year the committee shall provide the county council with a written report of its activities during that year. The report shall include a narrative description of actions taken by the committee, copies of the minutes of each committee meeting, and copies of all investment policies in effect or approved by the committee during the year. (Added by Ord. 96-049 § 1, July 10, 1996, Eff date July 22, 1996).