CC Resolution No. 935 1683
RESOLUTION NO. 935
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN
ADOPTING A CASH MANAGEMENT POLICY AND RULES GOVERNING
THE INVESTMENT OF LOCAL FUNDS.
WHEREAS, political subdivisions of the State with custody of public funds not
required by law to be deposited in the State Treasury being required by TEX. CIV.
REV. STAT., art. 4413 (34c), to adopt rules governing the investment of such local
funds; to designate one or more officers or employees to be responsible for such
investment; and to clearly specify the scope of authority of such officers or
employees; NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: That the Baytown City Council policy for cash management and
rules governing investment of local funds for the City of Baytown is:
a. The City should invest idle cash in investments that provide
maximum protection against loss and the highest return
possible within the limits of our depository contract.
b. The City should bill customers and citizens as soon as
possible.
c. The persons authorized to make investment and transfer
decisions are the City Manager, Director of Finance and
Chief Accountant.
Section 2: This resolution shall take effect immediately from and after its
passage by the City Council of the City of Baytown.
INTRODUCED, READ, and PASSED by the affirmative vote of the City
Council of the City of Baytown, this the 9th day of January, 1986.
ME . H TT TTO, Mayor
ATTEST:
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I N P. HALL, City Clerk