RE 2002-08-27.1A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 2002-0827.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS,
AMENDING THE WRITTEN INVESTMENT POLICY OF THE CITY OF
COPPELL, AS AMENDED, IN ACCORDANCE WITH THE TEXAS
PUBLIC FUNDS INVESTMENT ACT, CHAPTER 2256, TEXAS
GOVERNMENT CODE; PROVIDING A REPEALING CLAUSE;
PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council has heretofore adopted a written Investment Policy, as
amended, as required by Chapter 2256 of the TEXAS GOVERNMENT CODE; and
WHEREAS, it is necessary and in the public interest to amend the written policy to
coincide with changes to the Public Funds Investment Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS:
SECTION 1. That the written Investment Policy of the City of Coppell, as amended,
heretofore adopted as Exhibit "A" to Resolution No. 2001.0828.1, is hereby amended by amending
Section V., I. G to read as follows, to wit:
Local government investment pools that have been authorized by the
governing body by rule, ordinance or resolution. The investment pool must
maintain a rating no lower than AAA or AAA-M by at least one nationally
recognized rating service. Investment in such pools shall be limited to 25%
of the City's entire portfolio, with no more than 15% of the entire portfolio
invested in any one authorized pool."
SECTION 2. Republish and adopt subject to the amendments set forth in Exhibit "A"
which is attached hereto and incorporated herein as if set forth in full.
SECTION 3. That all provisions of the resolutions of the City of Coppell, Texas, in
conflict with the provisions of this Resolution, except as noted herein, be, and the same are hereby,
repealed, and all other provisions not in conflict with the provisions of this Resolution shall remain
in full force and effect.
SECTION 4. That should any word, phrase, para~aph, or section of this Resolution be
held to be unconstitutional, illegal or invalid, the same shall not affect the validity of this Resolution
as a whole, or any part or provision thereof other than the part so decided to be unconstitutional,
illegal or invalid, and shall not affect the validity of the Resolution as a whole.
SECTION 5. That this Resolution shall take effect immediately from and after its passage
as the law and charter in such cases provide.
DULY PASSED by the City Council of the City of Coppell, Texas, this the ~'7 ~"~'(' day of
,2002.
APPR~:~/,
ROBERT E. I~A-GE~, C~YTATTORNEY
(RE H/cdb 08/14/020..{,.40820 )
ATTEST:
EEHAN, M~'~OR
'~TB B-~-B AL 7~I'I;Y ~--ECRgT--ARY
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