Title
Consideration of and action on the annual review and an order to adopt the Investment Policy for the Deer Park Fire Control, Prevention and Emergency Medical Services District.
Body
Summary:
In compliance with the Texas Public Funds Investment Act, Government Code Ch. 2256 as amended (the “Act”), the Board has established an Investment Policy. The Act also requires that the Board, 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 District’s Investment Policy was last reviewed in October 2023.
The District, having entered into an agreement with the City of Deer Park (the "City") whereby the City shall perform administrative services for the District, has elected to comply with the Act and has established a policy comparable to the investment policy of the City. The City adopted its investment policy in accordance with the Act on August 19, 2025.
One minor change is being incorporated into the policy this year:
XVIII. Collateral - the National Credit Union Share Insurance Fund (NCUSIF) was listed alongside the FDIC as a deposit insurance provider. The NCUSIF is a government-backed insurance program that protects deposits held in credit unions in the same manner the FDIC protects deposits held in banks.
The current list of authorized broker/dealers is as follows:
SouthState | Duncan-Williams
FHN Financial
Hilltop Securities
Multi-Bank Securities, Inc.
Wells Fargo Securities, LLC
Fiscal/Budgetary Impact:
N/A.
Recommended action
Review and adopt the Investment Policy.