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<br />DRAFT
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<br />fattomey\reswork\current\ Investment Pol Res Jan 2007
<br />January 3, 2007
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<br />RESOLUTION NO.
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, AFFIRMING THAT THE CITY OF PARIS HAS
<br />COMPLIED WITH THE REQUIREMENTS OF THE PUBLIC FUNDS
<br />INVESTMENT ACT; AMENDING THE CITY'S INVESTMENT POLICY;
<br />MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE
<br />SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
<br />
<br />WHEREAS, Chapter 2256 ofthe Texas Government Code, commonly known as the "Public
<br />Funds Investment Act," requires the chief financial officer of the City to attend investment training;
<br />and,
<br />
<br />WHEREAS, the City of Paris approves of the investment training course sponsored by the
<br />Texas Municipal League or any other independent source; and,
<br />
<br />WHEREAS, the chief financial officer of the City of Paris has attended an investment
<br />training course sponsored by the Texas Municipal League or other independent source, as required
<br />by the Public Funds Investment Act; and,
<br />
<br />WHEREAS, the Public Funds Investment Act requires the City to adopt an investment
<br />policy by rule, order, ordinance, or resolution; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of
<br />February, 1990, in Resolution No. 90-009, adopt an investment policy, which was amended on the
<br />13th day of November, 1995, by Resolution No. 95-122; the 9th day of March, 1998, by Resolution
<br />No. 98-036; the 11th day of January, 1999, by Resolution No. 99-003; the 12th day of February
<br />2001, by Resolution No. 2001-010; the 14th day of January, 2002, by Resolution No. 2002-021, the
<br />13th day of January, 2003, by Resolution No. 2003-005; the 12th day of January, 2004, by resolution
<br />No. 2004-001; and the 10th day of January, 2005, by Resolution No. 2005-003; and the 9th day of
<br />January, 2006 by Resolution No. 2006-003, and it is deemed appropriate that such policy be further
<br />amended; and,
<br />
<br />WHEREAS, the investment policy and incorporated revisions comply with the Public Funds
<br />Investment Act and authorize the investment of City funds in safe and prudent investments; NOW,
<br />THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
<br />TEXAS:
<br />
<br />Section 1. That the findings set out in the preamble to this resolution are hereby in all things
<br />approved.
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