HomeMy WebLinkAbout2014-R-06 - Adopting Authorized Broker Dealer ListRESOLUTION NO. 2014-06
A RESOLUTION ADOPTING AUTHORIZED BROKER/DEALER LIST
WHEREAS, the Public Funds Investment Act (Texas Government Code, Chapter 2256) governs local
government investment; and
WHEREAS, the Public Fund Investment Act (Section 2256.025) requires the governing body or its
designated investment committee, no less than annually, to review, revise and adopt a list of qualified
broker/dealers authorized to engage in investment transactions; and
WHEREAS, the following broker/dealers are recommended for approval:
NOW, THEREFORE, BE IT RESOLVED that:
Bank of America Merrill Lynch
Mizuho Securities
Morgan Stanley
Mutual Securities
Piper Jaffray
RBC
Stifel Nicolaus
are authorized as broker/dealers for the City.
In accordance with the Act and the Investment Policy a copy of the Investment Policy will be sent to
each broker/dealer on the list whenever a material change is made to the Policy and each broker/dealer
will be required to provide written certification of their review of the Investment Policy.
Any qualified Texas bank used for time or demand deposits may be approved by the investment officers
as identified through the competitive process without Council action.
That the City has complied with the requirements of the Public Funds Investment Act and the list of
authorized broker/dealers is hereby adopted.
PASSED, ADOPTED AND APPROVED by the Stephenville City Council this the.1" day, ofJ,uJy, 2014
Jerry �K. Welg ) II, Mayor
ATTEST:
Cindy L. Stafford, Ci Secret ry
ou
Reviewed by Mark A. Kaiser
City Administrator
M
Randy Thomas, City Attorney
Approved as to form and legality