Laserfiche WebLink
• • <br />DISCLOSURE Employees and Investment Officials shall disclose to the City <br />Manager any material financial interests in financial institutions that conduct <br />business with the City of La Porte, and shall further disclose any large financial <br />or investment positions that could be related to the performance of the City's <br />portfolio. Employees and Investment Officers shall subordinate their personal <br />investment transactions to those of this jurisdiction, particularly with regard to <br />the timing of purchases and sales. <br />V. INVESTMENTS <br />ACTIVE PORTFOLIO MANAGEMENT The City intends to pursue active versus <br />passive portfolio management philosophy. That is, securities may be sold <br />before they mature if market conditions present an opportunity for the City to <br />benefit from the trade. <br />ELIGIBLE INVESTMENTS Assets of funds of the government of the City of La <br />Porte may be invested in: <br />A. obligations of the United States or its agencies and instrumentalities; <br />B. direct obligations of the State of Texas or its agencies; <br />C. other obligations, the principal of and interest on which are <br />unconditionally guaranteed or insured by the State of Texas or the United <br />States or its agencies and instrumentalities; <br />D. obligations of states, agencies, counties, cities, and other political <br />subdivisions of any state having been rated as to investment quality by a <br />nationally recognized investment rating firm and having received a rating <br />of not less than A or its equivalent; <br />E. certificates of deposit issued by state and national banks domiciled in this <br />state that are: <br />1. guaranteed or insured by the Federal Deposit Insurance Corporation, <br />or its successor; or <br />2. secured by obligations that are described by subsections A-D of this <br />section, which are intended to include all direct agency or <br />instrumentality issued mortgage backed securities rated AAA by a <br />national recognized rating agency, or by the Public Funds Investment <br />Act of 1987, codified as Art. 842a-2, Revised Civil Statutes and that <br />have a market value of not less than the principal amount of the <br />certificates; <br />3 <br />