HomeMy Public PortalAboutResolution No. 487-17 08-28-2017Resolution No. 487-17
A RESOLUTION APPROVING THE CITY OF RICHLAND HILLS
INVESTMENT POLICY AND INVESTMENT STRATEGIES
WHEREAS, Chapter 2256 of the Texas Government Code, commonly known as the
"Public Funds Investment Act," requires the city to adopt an investment policy by rule,
order, ordinance, or resolution; and
WHEREAS, the Public Funds Investment Act requires the city to review its investment
policy and investment strategies not less than annually; and
WHEREAS, investment and administration of the city's funds shall promote public
confidence and trust based on an investment policy that promotes safety of principal
and liquidity of funds; and be guided by investment strategies emphasizing preservation
of principal, liquidity, marketability, diversification and yield; and
WHEREAS, the Public Funds Investment act requires the investment officers of the city
to attend Public Fund Investment training as required by law; and
WHEREAS, the City Council has reviewed the attached investment policy and the city's
investment strategies, as required by law; and
WHEREAS, the attached investment policy and incorporated revision comply with the
Public Funds Investment Act, as amended, 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 Richland
Hills:
That the City of Richland Hills has complied with the requirements of the Public
Funds Investment Act, as amended, and the attached investment policy and investment
strategies is hereby adopted as the investment policy of the city effective August 28,
2017.
PASSED, ADOPTED AND APPROVED by the City Council of the City of Richland Hills
this 28th day of August, 2017.
APPROVED: Attest:
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