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Home My WebLink About10-08-18-2b - Resolution - 10/08/2018 RESOLUTION NO. 10-08-18-2b A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, APPROVING THE CITY’S INVESTMENT POLICY; THE CITY’S INVESTMENT STRATEGY; REVIEWING AND RECORDING CHANGES TO SUCH POLICY AND STRATEGY; APPROVING A COLLATERAL POLICY; AND DESIGNATING INVESTMENT OFFICERS FOR FISCAL YEAR ENDING SEPTEMBER 30, 2019; AND CONTAINING OTHER PROVISIONS RELATED TO THE SUBJECT MATTER. WHEREAS, it is a paramount goal of the City of College Station, Texas (“City”) to ensure the financial integrity of the City and to meet all legal requirements associated with the safekeeping and investing of its funds; and WHEREAS, in accordance with the Public Funds Investment Act, Chapter 2256, Texas Government Code, the City council must adopt an investment policy and investment strategies; and WHEREAS, Section 2256.005, Texas Government Code requires the City Council to review the investment policies and investment strategies not less than annually and to adopt a resolution or order stating the review has been completed and recording any changes made to either the investment policies or investment strategies; and WHEREAS, the Investment Policy for Fiscal Year 2019 designates the Assistant City Manager or his Designee(s) 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 2019 contains the City’s Collateral Policy which is required pursuant to Chapter 2257, Texas Government Code; now therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS: PART 1: That the facts and recitations set forth in the preamble of this Resolution are hereby declared true and correct. PART 2: That the City Council hereby approves the City’s Investment Policy, the City’s Collateral Policy, the City’s Broker/Dealer List and the City’s Investment Strategy for Fiscal year 2019, all of which is attached hereto as Exhibit “A” and made a part hereof. PART 3: That the City Council of the City has completed its review of the investment policy and investment strategies, and any changes made to either the investment policy or investment strategy are recorded in Exhibit “A” hereto. PART 4: That the City Council hereby approves the designation of the Assistant City Manager or his Designee(s) 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. RESOLUTION NO. 10-08-18-2b Page 2 of 25 PART 5: That this Resolution shall take effect immediately from and after its passage. ADOPTED this 8th day of October, A.D. 2018. ATTEST: APPROVED: ______________________________ _________________________________ Tanya Smith, City Secretary Karl Mooney, Mayor APPROVED: _______________________________ City Attorney RESOLUTION NO. 10-08-18-2b Page 3 of 25 Exhibit “A-1” Investment Strategy and Policy 2019 RESOLUTION NO. 10-08-18-2b Page 4 of 25 RESOLUTION NO. 10-08-18-2b Page 5 of 25 RESOLUTION NO. 10-08-18-2b Page 6 of 25 RESOLUTION NO. 10-08-18-2b Page 7 of 25 RESOLUTION NO. 10-08-18-2b Page 8 of 25 RESOLUTION NO. 10-08-18-2b Page 9 of 25 RESOLUTION NO. 10-08-18-2b Page 10 of 25 RESOLUTION NO. 10-08-18-2b Page 11 of 25 RESOLUTION NO. 10-08-18-2b Page 12 of 25 RESOLUTION NO. 10-08-18-2b Page 13 of 25 RESOLUTION NO. 10-08-18-2b Page 14 of 25 RESOLUTION NO. 10-08-18-2b Page 15 of 25 RESOLUTION NO. 10-08-18-2b Page 16 of 25 RESOLUTION NO. 10-08-18-2b Page 17 of 25 RESOLUTION NO. 10-08-18-2b Page 18 of 25 RESOLUTION NO. 10-08-18-2b Page 19 of 25 RESOLUTION NO. 10-08-18-2b Page 20 of 25 RESOLUTION NO. 10-08-18-2b Page 21 of 25 RESOLUTION NO. 10-08-18-2b Page 22 of 25 RESOLUTION NO. 10-08-18-2b Page 23 of 25 RESOLUTION NO. 10-08-18-2b Page 24 of 25 RESOLUTION NO. 10-08-18-2b Page 25 of 25 Exhibit “A-2” Recorded changes to Investment Policy and/or Investment Strategy  Section V. Suitable and Authorized Investments-  Investments-Authorized 1. Interest bearing bank deposits insured by the FDIC or the National Credit Union Share Insurance Fund. . . . . 6. AAA-rated No-Load Money Market Mutual Funds registered with the Securities and Exchange Commission that invest exclusively in investments described in this section. Must have a weighted average maturity of less than 90 daysand comply with SEC Rule 2a-7 .