From
Tannie Camarata
Title
Resolution approving City of Grand Prairie Investment Policy to become effective upon passage and approval
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The City's Investment Policy is reviewed each year for necessary revisions for operational procedures, staffing changes and /or new state laws. Staff found no changes to the City's Investment Policy except to have them approved by the City Council. The Finance and Government Committee reviewed the policies at their September 4, 2012 meeting and recommend adoption of the current policies without revisions.
Financial Consideration
There is no financial impact resulting from this action.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE CITY OF GRAND PRAIRIE'S INVESTMENT 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 investment management is essential to the achievement of the City's goal; and
Whereas, the City is required to review and adopt the City's Investment Policy on an annual basis
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. That the City Council hereby adopts the current City's Investment Policy without changes
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, SEPTEMBER 18, 2012.