PROVIDENCE RETIREMENT BD. v. City Council of Providence

OPINION

LEDERBERG, Justice.

These consolidated cases came before the Supreme Court on the appeal of the defendants 1 from a judgment of the Superior Court that enjoined them from implementing an amendment to the Code of Ordinances of the City of Providence. It is the conclusion of this court that the authority of the Providence Retirement Board of the Employees’ Retirement System to invest pension funds was derived pursuant to a valid ordinance. We further conclude that the amendment that transferred the investment authority to the Board of Investment Commissioners was a permissible exercise of…