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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: ~~L~~ RON SII.: yer !~~~I :"""~~..J.~.,~~ ,":".< Q.. , City Attorney