Board of Directors Meeting Agenda
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Receive, consider and act upon a recommendation from the Investment Committee to approve Resolution 021-17 Adopting Investment Policies and Guidelines;
The Public Funds Investment Act (Government Code, Chapter 2256) requires The Woodlands Township to review its investment policies and guidelines annually and approve a resolution adopting such.
The attached red-line version of
Resolution No. 021-17 Adopting Investment Polices and Guidelines for The Woodlands Township
was prepared by Mr. Daniel Ringold, an attorney under contract with the Township who specializes in matters related to the Public Funds Investment Act. The proposed policies and guidelines were also reviewed by the Township’s Investment Committee on November 13, 2017.
The investment policies and guidelines detailed in the attached resolution are the same as those adopted in 2016 except for the revisions summarized on the attached memorandum dated October 25, 2017 from Schwartz, Page & Harding, L.L.P. The revisions primarily relate to bills passed in the 85
Texas Legislature pertaining to the investment of public funds. There is also a revision clarifying that surety bonds issued by a surety company having a rating of at least “A+” in the current Best’s Key Rating Guide will continue to be an authorized form of collateral for Township deposits.
The Investment Committee recommends that the Board of Directors approve
Resolution No. 021-17 Adopting Investment Policies and Guidelines for The Woodlands Township
Approve Resolution No. 021-17 Adopting Investment Policies and Guidelines for The Woodlands Township.
Summary of Revisions to Investment Policies
Resolution No. 021-17 Adopting Investment Policies and Guidelines
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