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 on October 20, 2025.
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 September 1, 2026.
One minor change is being incorporated into the policy this year:
VIII. 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.
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.