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HomeMy WebLinkAboutResolution No. 06-16 Investment Policy RESOLUTION NO. 06-16 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS, ADOPTING THE INVESTMENT POLICY OF THE CITY OF UNIVERSITY PARK HERETOFORE ADOPTED BY RESOLUTION NO. 05-19; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Public Funds Investment Act, as amended, requires the City to adopt an investment policy by rule, order, ordinance or resolution, and to review such policy not less than annually; and WHEREAS, the Public Funds Investment Act, as amended, requires the Treasurer, the Chief Financial Officer, and the Investment Officers of the City to attend investment training; and WHEREAS, the City of University Park approves of the investment training courses sponsored by the Texas Municipal League and other independent sources; and WHEREAS, the Treasurer, the Chief Financial Officer, and the Investment Officers of the City have attended investment training courses as required by the Public Funds Investment Act; and WHEREAS, the attached investment policy complies with the Public Funds Investment Act, as amended, and authorizes the investment of City funds in safe and prudent investments; Now, Therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That the City of University Park has complied with the requirements of the Public Funds Investment Act, and the Investment Policy, as amended, attached hereto as Exhibit "A" is hereby adopted as the Investment Policy of the City of University Park, effective September 05, 2006. SECTION 2. That the following individuals are hereby designated as Investment Officers for the City of University Park: Kent Austin, Director of Finance; Bob Livingston, City Manager; and, Thomas Tvardzik, Controller. C:\Documents and SettingslnwilsonlLocal Settings I Temporary Internet Files\OLK3I\Resolution Invest Policy 09-05-06. doc SECTION 3. This resolution shall take effect from and after its passage, and it is accordingly so resolved. DULY PASSED AND APPROVED by the City Council of the City of University Park, Texas, on the 5th day of September, 2006. APPROVED: ATTEST: CITY ATTORNEY c: \Documents and SettingslnwilsonlLocal Settings I Temporary Internet FileslOLK31 \Resolution Invest Policy 09-05-06.doc