NC S276

Amends Section 8.141 of the Charter of the City of Charlotte to expand investment authority for the city's employee benefit funds, risk reserve funds, cemetery perpetual care funds, and capital reserves.

Allows Charlotte to invest in securities and other investments authorized by state law for the State Treasurer under G.S. 147-69.2(b)(1)-(6) and (8).

Adds authorization for Charlotte to invest in securities meeting the "prudent person" standard of care, requiring fiduciaries to act with care, skill, prudence, and diligence under prevailing circumstances to achieve portfolio risk and return objectives.

Applies to funds held in trust as well as those designated from time to time by the City Council.

Effective upon enactment.