Title
Consider recommendation from the Finance/Administrative Committee to amend 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. 06-17-872 of the Edwards Aquifer Authority Board of Directors amending 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 amend Article IX of the EAA Bylaws, the EAA Investment Policy and Investment Strategy. Attached to this summary is Article IX, reflecting staff’s proposed edits as well as a resolution and order adopting the amendment, both of which have been reviewed by legal counsel. The recommended edit is for Section 9.05 identifying the Public Funds Collateral Act as one of the criteria for qualified investments. Additionally, Section 9.09 updates the authorized brokers and dealers, and reflects recent mergers and additions to this list.
At the April 25 meeting, Susan Anderson with Valley View Consulting, presented the proposed amendments to Article IX, and the Finance/Administrative Committee voted to recommend the board adopt a resolution and order of the Edwards Aquifer Authority Board of Directors amending Article IX of the EAA Bylaws pertaining to the EAA Investment Policy and Investment Strategy. On May 15, 2017, the proposed amendments were distributed to the board as required by Section 14.02 of the Bylaws.
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.