Docket Item 4

Staff Report & Agenda Item Details

4. Review Investment Policy and accept related party disclosures. Mr. Wilson presented to and reviewed with the Board the Resolution Reviewing Investment Policy and Making Any Desirable Changes Thereto (the “Resolution”), a copy of which is attached hereto as Exhibit C. He stated that NRF does not recommend any changes at this time. He noted that Artesian has provided the updated brokers list. Director Higgins discussed submitting the policy to the Government Treasurers Office of Texas (“GTOT”) for review to verify the policy meets the Public Funds Investment Act requirements and to provide any guidance for any areas of improvement. He then discussed Section 4.02 regarding Market Price Reports and asked about 90 day treasury bills. Ms. Johnston stated that Artesian would reach out to Director Higgins. Upon motion by Director Higgins, seconded by Director Boards, after full discussion and the question being put to the Board, the Board voted unanimously to approve the Resolution and brokers list.