HomeMy WebLinkAbout024208 RES - 09/12/2000A RESOLUTION
AMENDING THE CITY INVESTMENT POLICY TO PROVIDE MAXIMUM
AMOUNTS THAT MAY BE INVESTED IN THE LOCAL GOVERNMENT
INVESTMENT COOPERATIVE AND THE TEXAS LOCAL GOVERNMENT
INVESTMENT PUBLIC FUNDS INVESTMENT POOLS; AND ADOPTING
THE CITY INVESTMENT POLICY AS AMENDED.
WHEREAS, the City of Corpus Christi Investment Policy was adopted in Resolution No.
022390 on October 24, 1995, amended in Resolution No. 022980 on July 8, 1997; amended in
Resolution No. 023133 on November 18, 1997; amended in Resolution No. 023472 on October 27,
1998; and amended in Resolution No. 023864 on December 14, 1999;
WHEREAS, the City of Corpus Christi Investment Committee reviewed the proposed
amendments to the Investment Pol icy identified herein and reconunends that the City Coancil amend
the City Investment Policy;
WHEREAS, as provided in Section II. C. of the Investment Policy, the City Council must
review the Investment Policy on or before December 31 of each year.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTi, TEXAS:
SECTION 1. Section V.4 of the City Investment Policy is hereby amended to add the
following:
No more than $25,000,000 may be invested at any time in the Local Government
Investment Pool public funds investment pool.
No more than $25,000,000 may be invested at any time in the Texas Local
Government Investment Pool public funds investment pool.
SECTION 2. The City Investment Policy is adopted as amended. A copy of the amended
City Investment Policy is attached and incorporated as Exhibit I.
ATTEST:
Approved this the lt~ day of
James R. Bray, Jr., City Attorney
By:
Lis~a~guil
Assistant City Attorney
THE CITY OF CORPUS CHRISTI
The City of Corpus Christi
,2000.
024208
CORPUS CHRISTI, TEXAS
62q'I'X DAY OF %,,~ ~ ,2000
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Javier D. Colmenero
Melody Cooper
Henry Garrett
Dr. Arnold Gonzales
Rex A. Kinnison
Betty Jean Longoria
John Longoria
Mark Scott
024208
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