2009R27-Investment Policy RESOLUTION NO. 09-R-27
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS AUTHORIZING ADOPTION OF A REVISED CITY OF SCHERTZ
INVESTMENT POLICY.
WHEREAS, the City of Schertz Investment Policy requires an annual review by the City Council
(the "City Council") and after such review the City of Schertz (the "City") has determined that it is in the
best interest of the City to adopt the City of Schertz Investment Policy, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS THAT:
Section 1. The City Council hereby adopts the City of Schertz Investment Policy and is
repealing any and all prior changes and amendments to Investment Policy attached as Exhibit A.
Section 2. The City of Schertz Investment Policy requires an annual review by the City
Council and after review the City Council recommends changing
Section 3. Section II, page 3, subsection Maturity has changed to read as follows "the
average maturity of the overall portfolio, excluding those investments held for future major capital
expenditures and registry funds, shall not exceed 4.5 years.
Section 4. Section IV, subsection Investment Advisory Committee, page 8, has changed to
read "An Investment Advisory Committee composed of the City Manager (as Chair), both Assistant City
Managers, the Mayor, Finance Director, Financial Analyst, and one member of the City Council
designated from time to time by the City Council".
Section 5. All resolutions, or parts thereof, which are in conflict or inconsistent with any
provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions of this
Resolution shall be and remain controlling as to the matters resolved herein.
Section 6. This Resolution shall be construed and enforced in accordance with the laws of
the State of Texas and the United States of America.
Section 7. If any provision of this Resolution or the application thereof to any person or
circumstance shall be held to be invalid, the remainder of this Resolution and the application of such
provision to other persons and circumstances shall nevertheless be valid, and the City Council hereby
declares that this Resolution would have been enacted without such invalid provision.
Section 8. It is officially found, determined, and declared that the meeting at which this
Resolution is adopted was open to the public and public notice of the time, place, and subject matter of
the public business to be considered at such meeting, including this Resolution, was given, all as required
by Chapter 551, Texas Government Code, as amended.
Section 9. This Resolution shall be in force and effect from and after its final passage, and it
is so resolved.
PAS D AND ADOPTED, this 19"' day of May , 2009.
ATTEST:
e
a or, ity of Schertz ity ecret y ~
(CITY SEAL)
Reso109-R-23.doc