SUBJECT
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An Ordinance of the City of Laredo, Texas amending Article VI [Investment Policy] of Chapter 2 [Administration] of the Code of Ordinances in order to update investment officers’ titles, adjust / update the current broker/dealer list, and make minor language adjustments to the City’s Investment Policy.
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PREVIOUS COUNCIL ACTION
Adoption of Investment Policy by Ordinances 95-O-288 and subsequently amended by various including: 2022-O-167, 2023-O-154, and 2024-O-163.
BACKGROUND
The Public Funds Investment Act, Chapter 2256 of the Texas Government Code requires that the Investment Policy for the City be reviewed at least annually and that the same be adopted by rule, order, resolution, or ordinance stating that it has been reviewed and adopted any amendment to the policy. The current policy has been reviewed by the City’s Investment Advisors and City Staff and updates to the broker/dealer list and minor changes have been made.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends approval of this Introductory Ordinance.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N: N/A
Source of Funds: N/A
Account #: N/A
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
N/A