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<br />RESOLUTION NO. 2001-010
<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 of the Texas Government Code, commonly known as the "Public
<br />Funds Investment Act," requires the chief financial offer 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, on the 9th day of March, 1998, by
<br />Resolution No. 98-036, and on the 11th day of January, 1999, by Resolution No. 99-003; and it is
<br />deemed appropriate that such policy be further amended; and,
<br />
<br />WHEREAS, the amended investment policy and incorporated revisions, a copy of which
<br />is attached hereto as Exhibit A, comply with the Public Funds Investment Act, as amended, and
<br />authorize the investment of City funds in safe and prudent investments; NOW, 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.
<br />
<br />Section 2. That the City of Paris has complied with the requirements of the Public Funds
<br />Investment Act.
<br />
<br />Section 3. That the Investment Policy be, and the same is hereby, amended, effective
<br />February 12, 2001, to the form shown in Exhibit A, attached hereto.
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