HomeMy WebLinkAbout10-25-2007-2o - Resolution - 10/25/2007RESOLUTION NO. 10 -25- 2007 -20
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, APPROVING THE CITY'S INVESTMENT POLICY AND INVESTMENT
STRATEGY FOR FISCAL YEAR 2008 AND AUTHORIZING ITS IMPLEMENTATION.
WHEREAS, the goal of the City of College Station is to create an Investment Policy to insure the
safety of all funds entrusted to the City, while making available those funds for the payment of all
necessary obligations of the City, and providing for the investment of all funds not immediately
required in interest bearing securities; and
WHEREAS, the safety of the principal invested shall always be the primary concern of the City of
College Station; and
WHEREAS, the management of monies in order to insure maximum cash availability and maximum
yields on a short term investment is a primary goal of the City of College Station; and
WHEREAS, the Investment Policy for Fiscal Year 2008 designates the Chief Financial Officer or
his Designee as the Investment Officer of the City and authorizes the Investment Officer to carry
out the responsibilities of investing the City's funds; and
WHEREAS, the Investment Policy FOR Fiscal Year 2008 contains the City's Collateral Policy as
required pursuant to Texas Government Code, Chapter 2257.
WHEREAS, the City Council of the City of College Station has reviewed the City's Investment
Policy for Fiscal year 2008 and the City's Investment Strategy for the Fiscal Year 2008; now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council hereby approves the City's Investment Policy and the
Investment Strategy for Fiscal Year 2008.
PART 2: That the City Council hereby approves the designation of the Chief Financial Officer
or his Designee as the Investment Officer of the City and authorizes the Investment
Officer to carry out the responsibilities of investing the City's funds consistent with
the City's Investment Policy.
PART 3: That this resolution shall take effect immediately from and after its passage.
ADOPTED this 25` day of October A.D. 2007.
EST: APP VED:
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City Secretary Mayor
APPROVE
Vy J T aiithan i - trKwith Annrnvd f
City Attorney