Title
Consider recommendation from the Finance/Administrative Committee to reapprove Article IX of the Bylaws of the Edwards Aquifer Authority pertaining to the EAA Investment Policy and Investment Strategy.
Body
RECOMMENDED MOTION:
Move the board adopt Resolution and Order No. 05-18-901 of the Edwards Aquifer Authority Board of Directors reapproving Article IX of the EAA Bylaws pertaining to the EAA Investment Policy and Investment Strategy.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative Committee recommendation to reapprove Article IX of the EAA Bylaws, the EAA Investment Policy and Investment Strategy. Attached to this summary is Article IX, with no proposed edits and a resolution and order to reapprove, both of which have been reviewed by legal counsel. The Texas Public Funds Investment Act requires that the EAA "...review its investment policy and investment strategies not less than annually. The governing body shall adopt a written instrument by rule, order, ordinance, or resolution stating that it has reviewed the investment policy and investment strategies..." Ms. Emily Upshaw with Valley View Consulting presented Article IX to the Finance/Administrative Committee at the meeting in April.
At the April 24 meeting, the Finance/Administrative Committee voted to recommend the board adopt a resolution and order of the Edwards Aquifer Authority Board of Directors reapproving Article IX of the EAA Bylaws pertaining to the EAA Investment Policy and Investment Strategy.
STRATEGIC PLAN REFERENCE:
This agenda item does not relate to a specific goal within the Strategic Plan, but supports the general EAA mission.
FISCAL IMPACT:
None.