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Ore City ISD adopts investment policy under Texas Government Code
Summary
The Ore City ISD Board adopted a resolution approving the district's Investment Policy and Investment Strategies, as required by Texas Government Code Section 2256.005(e). The vote was unanimous, 7-0.
At its Jan. 12 meeting the Ore City ISD Board of Trustees approved a resolution adopting the District's Investment Policy and Investment Strategies as required by state law. The minutes cite Texas Government Code Section 2256.005(e) as the statutory basis for adopting the resolution. The motion passed 7-0.
"to approve the resolution for the District's Investment Policy and Investment Strategies as required by Texas Government Code Section 2256.005(e)," the minutes record. The motion was moved by Bobby Byrd and seconded by Bryan Davis and recorded as unanimous. The minutes do not include the policy text or the district's specific investment strategies; they record only that the resolution was approved in compliance with the cited statute.
District staff will be responsible for implementing the investment strategy under the supervision of the board and in accordance with state law; specific custodial or trustee arrangements are not detailed in the minutes.
