Title
Consideration of and action on the annual review and an ordinance adopting the City's Investment Policy.
Body
Summary:
In compliance with the Texas Public Funds Investment Act, Government Code Ch. 2256 as amended (the “Act”), the City has adopted an Investment Policy, which is Chapter 2, Administration, Article VII (Finance), Division 3 (Investment Policy), Section 2-343 Annual Review, of the Code of Ordinances of the City of Deer Park. The Act also requires that the City Council, not less than annually, adopt a written instrument stating that it has reviewed the Investment Policy and investment strategies. The written instrument must record any changes made to the policy or strategies.
The City’s Investment Policy was last reviewed and updated on August 19, 2025. The policy received re-certification from the Government Treasurer’s Organization of Texas (“GTOT”) in August 2025, and that certification was valid for two years to August 31, 2026.
One minor change is being incorporated into the policy this year:
2-328 Authorized Investments - LocalTrust Texas was included as an approved Local Government Investment Pool. LocalTrust Texas is a AAAm rated Local Government Investment Pool that is administered by BOKF, NA. LocalTrust is organized under the authority of the Interlocal Cooperation Act, Chapter 791, Texas Government Code, as amended, and the Public Fund Investment Act, Chapter 2256, Texas Government Code, as amended (the “Act”). The purpose of the Pool is to provide a safe, efficient, and liquid investment vehicle for Texas local government entities in accordance to the Act.
Authorized Broker/Dealers:
Southstate | Duncan-Williams
FHN Financial
Hilltop Securities
Multi-Bank Securities, Inc.
Wells Fargo Securities, LLC.
At the Finance Committee meeting on August 18, 2026, the Committee reviewed and discussed the list of authorized broker/dealers and did not make any changes to the current list.
Fiscal/Budgetary Impact:
N/A.
Recommended action
Review and approve an ordinance adopting the Investment Policy.