Title
Approving a resolution for the Annual Investment Policy.
Summary
In accordance with the Texas Public Funds Investment Act, the City Council must review and approve the Investment Policy to ensure that it remains in compliance with the law.
The changes to the policy include: Adding Council of Governments to the training list giving more options, removed limits on investments pasted one year since there is a significant amount of bond funds available to be invested, adding Rice Financial to the Authorized Broker/Dealer list. The redline version of the policy is attached for your review.
Valley View Consulting will be present to answer any questions.
Prior City Council Action
City Council last approved the Investment Policy 11/29/2022
Deadline for City Council Action
Action is requested on February 27, 2024
Funding Expected: Revenue __ Expenditure __ N/A X__
Budgeted Item: Yes __ No __ N/A _X_
Amount: N/A________
1295 Form Required? Yes __ No X__
Legal Review Required: N/A _X_ Required __ Date Completed: ___________
Supporting documents attached:
Investment Policy Redlined
Investment Policy
Resolution
Recommended Action
Approve a resolution for the Annual Investment Policy.