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AGENDA INFORMATION SHEET <br />PROJECT: Consider a resolution amending the City's current investment policy. <br />BACKGROUND: The Public Funds Investment Act, a State statute, mandates that the City maintain an <br />investment policy setting out the City's criteria for investing public funds. The City of Paris initially adopted <br />such a policy on February 12, 1990, by approval of Resolution No. 90-009. Since that time, various technical <br />amendments have been required either by State law or by a change in City policy. The City is proposing a <br />similar technical amendment to the current policy to omit three funds specifically referenced in the policy that <br />are no longer being used. <br />DESCRIPTION: The referenced resolution for City Council consideration would adopt a revised investment <br />policy which would omit three funds, the Water & Sewer Construction Fund, Series 1997; the Water Revenue <br />Construction Fund; and the Solid Waste Bond Construction Fund. This is merely a technical amendment <br />required periodically to keep the City's investment policy current. <br />RECOMMENDED ACTION: Consider approval of the resolution adopting a revised investment policy. <br />STAFF CONTACT: Gene Anderson, Finance Director; Larry W. Schenk, City Attorney <br />COUNCII, DATE: Consider for approval at City Council's Monday, January 14, 2002, regular Council <br />meeting. <br />ADDITIONAL MATERIALS: See enclosed resolution and accompanying revised investment policy. <br />