HomeMy WebLinkAboutRes 04-46 Designating an Investment OfficerTOWN OF WESTLAKE
RESOLUTION NO. 04-46
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, DESIGNATING AN INVESTMENT OFFICER.
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE:
WHEREAS, the Public Funds Investment Act codified in Government Code
Chapter 2256 governs local government investment; and
WHEREAS, the Public Funds Investment Act (Section 2256.005(f) and the
Town's Investment Policy, require the Board to designate one or more investment
officer(s) by rule, order, ordinance or resolution; and
WHEREAS, the Public Funds Investment Act and the Town's Investment Policy
require the investment officer to perform certain duties and report regularly to the Board
of Aldermen on the investment program,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
TRUSTEES OF THE WESTLAKE ACADEMY:
SECTION 1: That the Town of Westlake has complied with the
requirements of the Public Funds Investment Act and the Town's Investment Policy and
designates Debbie Piper to serve as the Investment Officer of the Town and to exercise
the judgment and care, under circumstances then prevailing, that a prudent person would
exercise in the management of the person's own affairs and to perform all the
requirements of the Act.
AND, the Board of Aldermen recognized the Board retains the ultimate responsibility as
fiduciaries of the assets of the Academy (Section 2256.005(f))
SECTION 2: That this Resolution shall become effective upon the date of
its passage.
PASSED AND APPROVED ON THIS 13th DAY OF SEPTEMBER, 2004.
ATTEST:
,
Gingeisrosswy, Secretatq
APPROVED AS TO FORM:
L. nton L Attorney
'Scott Br—gpad ey, Mayor
Trent O. Petty, T Manager