1992-01-13 Regular Meeting - Laserfiche WebLink

Browse Search

• • ORDINANCE N0. AN ORDINANCE ADOPTING THE CITY OF LA PORTS INVESTMENT POLICY DATED JANUARY 13, 1992; PROVIDING A SEVERABILITY CLAUSE; CONTAINING A REPEALING CLAUSE; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTS: Section 1. The City Council of the City of La Porte hereby adopts the "City of La Porte Investment Policy" dated January 13, 1992, a true and correct copy of which is attached to this Ordinance as Exhibit "A", incorporated by reference herein, and made a part hereof for all purposes. Section 2. The "City of La Porte Investment Policy" is intended to comply in all respects with the Public Funds Investment Act of 1987, codified as Article 842a-2, Public Funds Investment Act, of the Texas Revised Civil Statutes. The "City of La Porte Investment Policy" shall hereafter be deemed to be amended to embrace any subsequent amendments to the said Public Funds Investment Act of 1987, so as to conform to the terms and provisions of said Act. Section 3. If any section, sentence, phrase, clause, or any part of any section, sentence, phrase, or clause, of this ordinance or the City of La Porte Personnel Policy Manual hereby adopted, shall for any reason, be held invalid, such invalidity shall not affect the remaining portions of this Ordinance, or said Personnel Policy Manual, and it is hereby declared to be the intention of this City Council to have passed each section, sentence, phrase or clause, or part thereof, irrespective of the fact that any other section, sentence, phrase or clause, or part thereof, may be declared invalid. Section 4. The City Council officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Article 6252-17, Texas Revised Civil Statutes Annotated; and that this meeting has been open to the public as required by law at all times during which this ordinance