HomeMy WebLinkAboutResolution 23-50 Approving the Town's Investment PolicyResolution 23-154
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TOWN OF WESTLAKE
RESOLUTION NO. 23-50
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS,
APPROVING AND ADOPTING THE INVESTMENT POLICY.
WHEREAS, Texas Government Code 2256 requires the governing body of an investing entity
to review, approve, and adopt by rule, order, ordinance, or resolution, a written investment policy not
less than once a year,
WHEREAS, a review of the Town’s investment activities, policy, and performance has
been conducted and it has been deemed necessary to update the Investment Policy.
WHEREAS, all legal prerequisites for the adoption of this resolution have been met, including
but not limited to the Local Government Code, the Open Meetings Act, and the Texas Tax Code; and
WHEREAS, the Town Council finds that the passage of this Resolution is in the best
interest of the citizens of Westlake.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
WESTLAKE, TEXAS:
SECTION 1: That all matters stated in the Recitals hereinabove are found to be true and
correct and are incorporated herein by reference as if copied in their entirety.
SECTION 2: That the Town of Westlake Council hereby adopts the attached Investment
Policy (Attachment A).
SECTION 3: If any portion of this Resolution shall, for any reason, be declared invalid by
any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof
and the Council hereby determines that it would have adopted this Resolution without the invalid
provision.
SECTION 4: That this Resolution shall become effective from and after its date of
passage.
PASSED AND APPROVED ON THIS 11TH DAY OF SEPTEMBER 2023.
Resolution 23-154
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ATTEST:
Sean Kilbride, Mayor
Amy M. Piukana, Town Secretary
APPROVED AS TO FORM:
L. Stanton Lowry, Town Attorney