ORDER NO. 19333
APPROVAL OF COUNTY INVESTMENT POLICY
On this the 1st day of February 1990, upon motion made by
Commissioner Morgan, seconded by Commissioner Baldwin, the
Court unanimously approved the attached "Investment Policy"
for Kerr County.
INVF.STMF.NT POLICY
It being the desire of the Kerr County Commissioners Court to estab-
lish a sound investment policy which will provide for maximum investment
return from funds belonging to Kerr County, the fol.lowi.ng INVF..STMENT POLICY
FOR KF.RR COUNTY .is adopted:
OBJF.CTIVF.S AND PRIORITIES
The Investment Objer_ti.ves of the Kerr County Commissioners Court are:
1. To comply with the laws of the State of Texas as defined in
Article 842a-2, Vernon's Texas Civil Statutes, known as the PITBLIC INVEST-
MENT ACT OF 1987 concerning the investment of Kerr County Funds.
2. To insure that sufficient funds are available to meet immediate
and short-term needs for the operation of the County.
3. To provide for diversification in the types of investments, the
amount of money invested and length of time of investments.
4. To insure the safety of county funds and to avoid speculative
investing.
5. To earn maximum interest rates allowed through prudent and legal
investment of county funds consistent with the rur.rent Bank Depository
Contract.
TYPES OF INVESTMENTS
As provided i,n the PUBLIC INVESTMENT ACT OF 1987, the following in-
vestments of. county funds are allowed:
*OBIIGATIONS OF THE FJNITF.D STATES, IT'S AGENCIES AND INSTRUMENTALITIES
*DIRECT OBLIGATIONS OF THF. STATF. OF TEXAS OR IT'S AGENCIES
*OTHER OBLIGATIONS INSURED BY THF. STATE OF TEXAS OR iJNITED STATES
*BANK CERTIFICATES OF DEPOSIT THAT ARF. GUARANTF.F.D
*CF.RTIFICATF.S OF DEPOSIT ISSUED BY SAVINGS AND LOAN ASSOCIATIONS
DOMICILED IN THIS STATF. THAT ARF. GUARANTEED
*PRIME DOMESTIC BANKERS' ACCEPTANCES
*COMMERCIAL PAPER (UNDF,k CERTAIN CONDITIONS)
*F(JLLY COLLATERAhIZF.D REPURCHASE AGREEMENTS (UNDER CERTAIN CONDITIONS)
*S.E.C. RF.GISTF,RF.D, NO-LOAD MONEY MARKET MUTUAL FUNDS (UNDER CERTAIN
CONDITIONS)
*BOND PROCEEDS MAY BE INVESTb;D IN COMMON TRUST FUNDS (UNDER CERTAIN
CONDITIONS)
In order to insure timely investment of county funds to obtain maximum
interest benefit, the fol.l.owing investments may be made by the investment
officer without prior Commissioners Court approval:
*OBLIGATIONS OF THF. IINITF.D STATES, IT' S AGENCIES AND INSTRFJMENTALITIF,S
*DIRECT OBLIGATIONS OF THF. STATE OF TEXAS OR IT'S AGENCIES
*OTHF,R OBLIGATIONS INSURED BY THF. STATF.. OR UNITF..D STATES
*BANK CERTIFICATES OF DEPOSIT THAT ARF. GUARANTEED
*SAVINGS AND LOAN CERTIFICATFS OR DEPOSIT THAT ARE GFJARANTEF.D
A:11 other types of investment allowed under the PUBLIC INVF.STMF:NT ACT OF
1.9D7 must have prior. approval of. the Commissioners Court before the invest-
ment may be made by the designated investment officer.
Kerr. County shall. require delivery of al.l securities or shall have these
securities held in the County's name by an independent third party prior to
payment being made by the County for the investment.
INVESTMENT INSTITUTIONS
Kerr. Country shall invest county funds with any or. all. of the following
institutions or groups consistent with the federal and state law and the
cu r.r.ent Bank Depository Contract:
DEPOSITORY BANK
OTHER STATF. OR FEDERALLY CHARTERED BANKS
SAVINGS AND LOAN ASSOCIATIONS
MAJOR BROKRRAGF'. HOUSES
TEXAS TREASURY SAFEKEEPING TRiJST COMPANY
INVESTMENT COLLATF.RA.T.
All invested Kerr County Funds will be fully collateral.i.zed or. insured
consistent with federal and state law and the current Bank Depository
Contract, without exception.
All securities pledged as collateral shall be deposited in trust with the
Federal. Reserve Bank or an independent investment institution under an
appropriate legal contract. The amount of securities so pledged shall be
deter.~mi.ned by their market value.
DESIGNATION OF RF,SPONSIBII,IT:IES
It shall be the responsi.bil.ity of. the County Treasurer to determine the
amount of funds which are available for investment and the types of invest-
ments which will yield maximum income for. Kerr County.
COMMISSIONERS' COURT AGENDA REQUEST
• PLEASE FURNISH ONE ORIGINAL AND SEVEN COPIES OF THIS REQUEST AND DOCUMENTS
TO BE REVIEWED BY THE COUnR~T.
MADE BY: ~tfo~Lttq-S ~. /~' `Ot~~S r T T OFF ICE: ~'~ b ~ ~'o~Z.
MEETING DATE: ~ES l~ ~99o TIME PREFERRED:
SUBJECT: (PLEASE BE SPECIFIC): L~ocJAlTy -ZN/E'S~iylc~T ~ow~/
t4~oJ k~. D t
ESTIMATED LENGTH OF PRESENTATION:
IF PERSONNEL MATTER -NAME OF EMPLOYEE:
NAME OF PERSON ADDRESSING THE COURT:
.~-1 O p,~ cnl
T: ~. /I/lo n ~s ~T`T
Time for submitting this request for Court to assure that the matter Is posted In
accordance with Article 6252-1 7 Is as follows:
• Meetings held on second Monday: 12:00 P. M. previous Wednesday
• Meetings held on Thursdays: 5:00 P. M. previous Thursday.
If preferable, Agenda Requests may be made on office stationery with the above
Information attached.
THIS REQUEST RECEIVED BY:
THIS REQUEST RECEIVED ON:

All Agenda Requests will be screened by the County Judge's Office to determine If
adequate Information has been prepared for the Court's formal consideration and action at
time of Court meetings. Your cooperation well be appreciated and contribute towards
your request being addressed at the earliest opportunity.
ORDER NO. 19333
APPROVAL OF COUNTY INVESTP~NT
POLICY
Febnaary 1, 1990
Vol. R, Pg. 725