HomeMy WebLinkAbout10-12-2006-12.03 - Resolution - 10/12/2006
RESOLUTION NO. 10-12-2006-12.03
A RESOLUTION OF THE aTY COUNaL OF THE aTY OF COLLEGE STATION,
TEXAS, APPROVING THE aTY'S INVESTMENT POUCY AND INVESTMENT
STRATEGY FOR FISCAL YEAR 2007 AND AU1HORIZING ITS IMPLEMENTATION.
WHEREAS, the goal of the Gty 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
necessaty obligations of the City, and providing for the investment of all funds not inunediately
required in interest bearing secunties; 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 2007 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 invesring the City's funds; and
WHEREAS, the Investment Policy FOR Fiscal Year 2007 contains the Gty's Collateral Policy as
required pursuant to Texas Government Code, C1J.apter 2257.
WHEREAS, the Gty Council of the City of College Station has reviewed the City's Investment
Policy for Fiscal year 2007 and the City's Investment Strategy for the Fiscal Year 2007; now,
therefore,
BE IT RESOLVED BY THE aTY COUNaL OF THE aTY OF COLLEGE STATION,
TEXAS:
PART 1:
That the City Council hereby approves the City's Investment Policy and the
Investment Strategy for Fiscal Year 2007.
That the City Council hereby approves the designation of the Chief Financial Officer
or his Designee as the Investment Officer of me City and authorizes the Investment
Officer to carry out the responsibilities of investing the City's funds consistent with
the City's Investment Policy.
That this resolution shall take effect immediately from and after its passage.
PART 2:
PART 3:
ADOPTED this 12th day of October, AD. 2006.
TjST .~
CO~S, CitySecretary
APPROVED:
APPROVED:
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RON SII.: yer
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:"""~~..J.~.,~~ ,":".< Q.. ,
City Attorney