09-054 - R RESOLUTION NO.09-054
A RESOLUTION OF THE PROSPER TOWN COUNCIL REVIEWING,UPDATING
AND ADOPTING THE PROSPER INVESTMENT POLICY
WHEREAS, Section 2256.005(e) of the Public Funds Investment Act (the "Act") states
that the governing body of an investing entity shall review its investment policy and investment
strategies not less than annually; and
WHEREAS, the governing body shall adopt a written instrument by rule, order, ordinance, or
resolution stating that it has reviewed the investment policy and investment strategies: and
WHEREAS,the'Act requires the written instrument so adopted shall record any changes made to
either the investment policy or investment strategies.
NOW,THEREFORE,BE IT RESOLVED BY THE PROSPER TOWN COUNCIL:
SECTION 1.
The Prosper Town Council hereby has reviewed the Town's Investment Policy and investment
strategies and adopts the Investment Policy dated March 20,2009, attached hereto.
SECTION 2.
The Prosper Town Council hereby has reviewed the changes to the Investment Policy dated
March 20,2009 and accepts the changes listed below:
1. Add conditions for investment of certificates of deposit as Authorized Investments, (A)
(2)(e),as per the Public Funds Investment Act,
2. Add Commercial Paper as an Authorized investment, (A)(5), as per the Public Funds
Investment Act; and
3. Add Repurchase Agreement as an Authorized Investment, (A)(6), as per the Public Funds
Investment Act.
SECTION 3.
This Resolution shall be effective immediately upon adoption.
PROSPER TO CIL
By:
arge iswange ayor
ATTEST: •
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