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<br />[8JAction <br /> <br />CITY OF PARIS, TEXAS <br />CITY COUNCIL AGENDA REQUEST <br />MEETING DATE: 11-14-2008 <br /> <br />D Discussion Dlnformation DRefer to: <br /> <br />SUBMITTED BY: <br /> <br />I Gene Anderson, Finance Director <br /> <br />DESCRIPTION: <br />Update and affirmation of the City of Paris investment policy. <br /> <br />BACKGROUND INFORMATION: <br /> <br />Chapter 2256 of the Texas Government Code, commonly known as the "Public <br />Funds Investment Act," requires every city to adopt an investment policy. Once <br />adopted the City Council must annually review and readopt that policy even if no <br />changes are made to the policy. The attached policy put forth for adoption is <br />identical to the policy adopted in 2007 except that two funds no longer in use <br />(Child Safety and CJD Grant) are were deleted from the list of active funds. <br /> <br />FISCAL AUTHORITY: <br />I Not applicable, <br /> <br />LEGAL REVIEW: <br /> <br />I~- <br /> <br />MANAGER'S RECOMMENDATION: <br />