ORD 1997-25 - Amend Investment Policies 08-26-1997ORDINANCE NO. 97 -25
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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, AMENDING ITS POLICIES FOR INVESTMENTS
TO INCORPORATE LEGISLATIVE CHANGES; AND MAKING OTHER
PROVISIONS RELATED THERETO.
WHEREAS the Public Funds Investment Act, now Texas Government Code chapter 2256,
requires the City to adopt written investment policies addressing liquidity,
diversification, safety of principal, yield, maturity, and quality and capability of
investment management, with primary emphasis on safety and liquidity; and
WHEREAS the Public Funds Collateral Act, now Texas Government Code chapter 2257,
requires the City to adopt written policies addressing investment securities eligible
to secure deposits of public funds;
WHEREAS Texas Local Government Code Chapter 105 generally authorizes depositories for
municipal funds; and
WHEREAS City Council desires to amend the investment policies it adopted on March 6,
1990, and last amended by City Council by Ordinance 97 -11 on March 25, 1997.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, that:
SECTION 1: The attached City of Huntsville Investment Policy shall be adopted as the policy
of the City regarding investments, investment securities, and depositories.
SECTION 2: This ordinance shall take effect August 26, 1997.
PASSED AND APPROVED on the 26th day of August, 1997.
THE CITY OF HUNTSVILLE
William B. Green, Mayor
AT ST:
Danna Welter, City Secretary
APPR ED O FORM:
Scott Bound , City Attorney