HomeMy WebLinkAboutRES 890130 - Auth & Implement Invest PolicyRESOLUTION NO. POO
A RESOLUTION APPROVING AND AUTHORIZING THE IMPLEMENTATION OF THE CITY OF
GEORGETOWN INVESTMENT POLICY.
WHEREAS, the goal of the City of Georgetown is to create an investment
policy to insure the safety of all funds entrusted to the City, while
making available those funds for the payment of all necessary obligations
of the City and providing for the investment of all funds not immediately
required in interest bearing securities; and
WHEREAS, the Public Funds Investment Act of 1987 requires that the City
have written policies governing its investments approved by its City
Council.
NOW, THEREFORE, be it resolved by the City Council of the City of
Georgetown that the attached document shall be the Investment Policy of the
City of Georgetown, providing primarily to insure the safety of all funds
entrusted to the City while providing availability of sufficient cash to
pay obligations of the City when they are due and for the investment of
idle cash at the highest rate of return consistent with state and local
laws.
PASSED and APPROVED this the If+h day of 1989.
APPROVED:
M' KENNEby - MAYOR,/"