HomeMy WebLinkAbout10-13-2005-12.08 - Resolution - 10/13/2005RESOLUTION NO. 10-13-2005-12.08
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 2006 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 2006 designates the Director of Finance and Strategic
Planning 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 2006 contains the City's Collateral Policy as required
pursuant to Texas Government Code, Chapter 2257; and
WHEREAS, the City Council of the City of College Station has reviewed the City's Investment Policy
for Fiscal Year 2006, including a change made to the Investment Policy which removes language that
incorrectly referred to the City of College Station City Charter, and the City's Investment Strategy for the
Fiscal Year 2006; 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 as modified and the
Investment Strategy for Fiscal Year 2006.
PART 2: That the City Council hereby approves the designation of the Director of Finance and
Strategic Planning 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 13th day of October, A.D. 2005.
APPROVED:
City Attorney
APPROVED:
RO VIA, ayor