10-022 - R RESOLUTION NO. 10-022
A RESOLUTION OF THE PROSPER TOWN COUNCIL REVIEWING,UPDATING AND ADOPTING
PROSPER INVESTMENT POLICY AND DESIGNATING INVESTMENT OFFICERS
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; and
WHEREAS, the Act requires the governing body of an investing entity to designate, by rule,
order, ordinance, or resolution, as appropriate, one or more Investment Officers to be responsible for the
investment of its funds.
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 01,2010, 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 clarification to (III. A) that subsequent legislation will not require liquidation of
investments that were authorized at the time of purchase; and
2. Add clarification to (III. A. 4.) to specify authorized investment pools are to be only Local
Government Investment Pools; and
3. Several revisions to formatting, adding to the glossary of terms and correcting typographical
errors.
SECTION 3.
The Town of Prosper Town Council hereby designates the Investment Officers as reflected in the
attached Investment Policy, and authorizes such Investment Officers to enter into such agreements as may
be necessary to implement the Investment Policy.
SECTION 4.
This Resolution shall be effective immediately upon adoption.
PROSPER TOWN C01,.NC1L
By:
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ATTEST: �� dh �i6i Mayor Pro-"1 cin
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By
Mat ew D. Denton,TMRC
Town Secretary �01
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