HomeMy WebLinkAbout031925 RES - 11/12/2019 Resolution amending and reaffirming the City of Corpus Christi's Investment
Policy and Investment Strategies for fiscal year 2019-2020.
WHEREAS, the City of Corpus Christi's Investment Policy and Investment Strategies
were first adopted pursuant to Resolution No. 022390 on October 24, 1995;
WHEREAS, the Texas Public Funds Investment Act requires the governing body to
annually review, amend as necessary, and reaffirm its investment policy and investment
strategies;
WHEREAS, the Investment Policy and Investment Strategies were previously re-viewed
for fiscal year 2018-19 on November 15, 2018, and reaffirmed pursuant to Resolution No.
031611 on December 4, 2018; and
WHEREAS, the Investment Policy and Investment Strategies were reviewed for fiscal
year 2019-2020 by the Investment Committee on September 11, 2019; recommended by the
committee for approval with style and formatting changes, substantive amendments, and an
updated issuance date; and are being recommended for reaffirmation by the City Council.
Therefore, be it resolved by the City Council of the City of Corpus Christi, Texas:
Section 1. The City Council has reviewed the City of Corpus Christi's Investment Policy and
Investment Strategies for fiscal year 2019-2020. A copy of the Investment Policy, which
contains the separate Investment Strategies, for fiscal year 2019-2020 is attached to this
resolution as Exhibit A and incorporated by reference into this resolution as if set out here in
its entirety.
Section 2. Style and formatting changes, along with substantive amendments, are being made
to the previous fiscal year's 2018-2019 Investment Policy and Investment Strategies document,
with such changes and amendments delineated and described below:
(a) Deletion of the Assistant City Managers and City Attorney as Investment Committee
members; addition of the Chief Financial Officer and Assistant Director of Finance and
Business Analysis.
(b) Revisions made, where necessary, to recognize the newly renamed Finance and
Business Analysis Department.
(c) Addition of the Chief Financial Officer as an Investment Officer.
Section 3. With an updated issuance date that coincides with the date this resolution is
passed, the City Council approves the City of Corpus Christi's Investment Policy and
Investment Strategies for fiscal year 2019-2020 and reaffirms the continuation of the policy and
strategies in full force and effect.
PASSED AND APPROVED on the /- day of Aiek4s-2019:
Joee day o 4-77
Roland Barrera
Rudy Garza
0 319 Z5 SCANNED
Paulette M. Guajardo
Gil Hernandez f �
Michael Hunter )17.�
Ben Molina
Everett Roy 1�
Greg Smith 4 -
ATTEST: CITY OF CORPUS CHRISTI
Reuuecca Huerta Jo cComb
City Secretary M r
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