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<br />DRAFT <br /> <br />f:attorney\reswork\current\Investment Pol Res Jan 2008 <br />January 8, 2008 <br /> <br />RESOLUTION NO. <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, AFFIRMING THAT THE CITY OF PARIS HAS COMPLIED WITH <br />THE REQUIREMENTS OF THE PUBLIC FUNDS INVESTMENT ACT; <br />AMENDING THE CITY'S INVESTMENT POLICY; MAKING OTHER <br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />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 ofJanuary, 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; the 9th day of <br />January, 2006 by Resolution No. 2006-003; and the 8th day of January by Resolution 2007-004, and <br />it is deemed appropriate that such policy be further amended; and, <br /> <br />WHEREAS, the investment policy and incorporated revisions attached hereto as Exhibit A <br />comply with the Public Funds Investment Act and authorize the investment of City funds in safe and <br />prudent investments. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF PARIS, TEXAS: <br /> <br />Section 1. That the findings set out in the preamble to this resolution are hereby in all things <br />approved. <br /> <br />T <br />