From
Diana G. Ortiz, Chief Financial Officer
Title
Resolution approving the proposed City of Grand Prairie Debt Management Policy to become effective upon passage and approval
Presenter
Diana G. Ortiz
Recommended Action
Approve
Analysis
The City's Debt Management Policy was reviewed at the January 9, 2018 F&G Committee and the Committee requested the following changes to the policy.
Section VIII, B. Arbitrage Liability Management - revise First Southwest Company to read First Southwest AssetManagement, A Hilltop Holdings Company or its successors or assigns (FSW).
Section XIV. Modifications to Policies - add the Finance and Government Committee.
Financial Consideration
There is no financial impact resulting from this action.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE PROPOSED CITY OF GRAND PRAIRIE DEBT MANAGEMENT POLICY TO BECOME EFFECTIVE UPON PASSAGE AND APPROVAL
Whereas, it is the goal of the City to maintain a long-term, stable and positive financial condition; and,
Whereas, well-planned and prudent public funds' debt management is essential to the achievement of the City's goals; and,
Whereas, the City is required to review, revise if necessary and adopt the City's Debt Management Policy annually.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. The attached proposed debt management policy is approved and updated with the following revised sections:
Section VIII. ARBITRAGE LIABILITY MANAGEMENT: revise "First Southwest Company" to read "First Southwest AssetManagement, A Hilltop Holdings Company or its successors or assigns (FSW)".
Section XIV. MODIFICATION TO POLICIES: add the Finance and Government Committee for presentation and confirmation.
SECTION 2. This resolution shall be in force immediately upon its passage in accordance with the Charter of the City of Grand Prairie and it is accordingly so resolved.
PASSED AND APPROVED BY TH...
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