HomeMy WebLinkAbout11-1356 01-25-2011RESOLUTION NO. 11 -1356
A RESOLUTION APPROVING THE INVESTMENT POLICY
FOR FUNDS FOR THE CITY OF EULESS AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, Chapter 2256 of the Texas Government Code, also known as the Public
Funds Investment Act ( "PFIA "), requires the governing body of an investing entity to adopt
by rule, order, ordinance, or resolution, a written investment policy regarding the investment
of its funds; and
WHEREAS, once an investment policy has been adopted, the PFIA also requires the
governing body to review the investment policy and investment strategies annually; and
WHEREAS, the PFIA states that the governing body shall adopt a written instrument
by rule, order, ordinance, or resolution stating that it has reviewed the investment policy and
investment strategies; and
WHEREAS, the City's Investment committee has reviewed the current investment
policy and recommends approval with no changes at this time; and
WHEREAS, the City Council desires to approve the Investment Policy;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF EULESS,
TEXAS; THAT:
SECTION 1
The City Council has reviewed the attached Investment Policy for the City of Euless
and the policies and strategies contained therein.
SECTION 2
The City Council hereby adopts the attached Investment Policy as the City's
Investment Policy,
SECTION 3
All resolutions, or parts of resolutions in force with provisions relating to this
resolution, which are inconsistent or in conflict with the terms or provisions contained herein,
are hereby repealed to the extent of any such conflict only. The non - conflicting sections,
sentences, paragraphs, and phrases shall remain in full force and effect.
SECTION 4
This resolution shall become effective immediately upon its passage and approval.
APPROVED AND ADOPTED at a regular meeting of the Euless City Council on the
25th day of January 2011 by a vote of 7 ayes, p nays, and p abstentions.
APPROVED:
d;/, CjthL
Mary Lib Saleh, Mayor
Resolution No. 11 -1356, Page 2 of 2
ATTEST:
usan Crim, RMC, City Secretary