26-2667 : Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Adopting the City of Mansfield, Texas Investment Policy; Investment Pools; Qualified Broker Deals and Investment Advisors for Engaging in Investment Transactions; Finding that the Meeting at Which this Resolution is Passed is Open to the Public as Required by Law; And Declaring an Effective Date

Staff Report & Agenda Item Details

The State of Texas Legislature adopted the Public Funds Investment Act, which defines the strategy and management of the investment of public money. The Act outlines guidelines to protect and preserve the public’s funds and has become widely accepted within the policies and practices of the investment community within the State of Texas. Moreover, it requires that Public entities have an investment policy that conforms to the principles established by the Act. The City of Mansfield, Texas Investment Policy complies with the State’s Public Funds Investment Act. The City’s Investment Policy is a guideline to the investment officer and investment community of the City of Mansfield. It also serves as a guide for investment advisors as to the types of investments in which the City of Mansfield may invest its cash. This policy ensures the City’s compliance with the State’s investment laws about public money. (Public Funds Investment Act, Government Code, Chapter 2256).

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 2.0/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).