2008-005-RES Affirming that the City of Paris has complied with the requirements of the public funds investments act; amending the City's investment policy

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RESOLUTION N0. 2008-005 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AFFIRMING THAT THE CITY OF PARIS HAS COMPLIED WITH THE REQUIREMENTS OF THE PUBLIC FUNDS INVESTMENT ACT; AMENDING THE CITY'S INVESTMENT POLICY, MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Chapter 2256 of the Texas Government Code, commonlyknown as the "Public Funds Investment Act," requires the chief financial officer of the City to attend investment training; and, WHEREAS, the City of Pariti approves of the investment training course sponsored by the Texas Municipal League or any other independent source; and, WHEREAS, the chief financial officer of the City of Paris has attended an investment training course sponsored by the Texas Municipal League or other independent source, as required by the Public Funds Investment Act; and, WHEREAS, the Public Funds Investment Act requires the City to adopt an investment policy by rule, order, ordinance, or resolution; and, WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of February,1990, in Resolution No. 90-009, adopt an investment policy, which was amended on the 13th day of November,1995, by Resolution No. 95-122; the 9th day of March,1998, by Resolution No. 98-036; the 1 lth day of January, 1999, by Resolution No. 99-003; the 12th day of February 2001, by Resolution No. 2001-010; the 14th day of January, 2002, by Resolution No. 2002-021, the ~ 13th day of January, 2003, by Resolution No. 2003-005; the 12`" day of January, 2004, by resolution ~ No. 2004-001; and the lOth day of January, 2005, by Resolution No. 2005-003; the 9`h day of January, 2006 by Resolution No. 2006-003; and the 8`" day of January by Resolution 2007-004, and it is deemed appropriate that such policy be further amended; and, WHEREAS, the investment policy and incorporated revisions attached hereto as Exhibit A comply with the Public Funds Investment Act and authorize the investment of City funds in safe and prudent investments. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved.