ORD 1990-04 - Adopts A Policy For Investments 03-06-1990.4 4
ORDINANCE NO. 90 -4
A ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, ADOPTING POLICIES FOR INVESTMENTS;
AND MAKING OTHER PROVISIONS RELATED THERETO.
WHEREAS the Public Funds Investment Act, Texas Revised Civil Statutes
article 842a -2, requires the City to adopt written investment policies
addressing liquidity, diversification, safety of principal, yield,
maturity, and quality and and capability of investment management, with
primary emphasis on safety and liquidity; and
WHEREAS the Public Funds Collateral Act (S.B. No. 1341, 71st Legislature)
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 Texas Revised Civil Statute article 4413 (34c) also regulates the
investment of local funds;
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 immediately after its adoption by
City Council.
PASSED AND APPROVED on the 6th day of March, 1990.
THE CITY 0 HUNTSVILLE
ATTEST:
DeShaw, City Secretary
APPROVED AS TO FORM:
Scott Bounds, City Attorney
by its ayor, Jane