2008-08-25 RTIRZ-2008-05RESOLUTION NO. RTIRZ-2008-05
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PEARLAND TAX
INCREMENT REINVESTMENT ZONE NUMBER TWO (TIRZ #2), ACCEPTING
THE TIRZ #2 INVESTMENT REPORT FOR THE QUARTER ENDING JUNE
2008.
BE IT RESOLVED BY PEARLAND TIRZ #2 BOARD OF DIRECTORS:
Section 1. That the Board of Directors of the Pearland TIRZ #2 hereby accepts
the Investment Report for the quarter ending June 2008 as shown in Exhibit "A".
PASSED, APPROVED, AND ADOPTED this 25~h day of August, A. D. 2008.
IGEL HARRISON
TIRZ #2 Chairman
ATTEST:
MIKE PY URN
TIRZ#2 Secretary
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AGENDA REQUEST
BUSINESS OF THE TIRZ NO. 2
PEARLAND, TEXAS
AGENDA OF: 08/25/2008
ITEM NO.: RTIRZ-2008-05
DATE SUBMITTED: 08/18/08
REPRESENTING: City of Pearland
PREPARED BY: Fatima U
PRESENTOR: Claire Bogard
SUBJECT: Presentation of TIRZ June 2008 Quarterly Investment Report
EXHIBITS: Resolution No. RTIRZ—
2008-05 Exhibit "A" Portfolio Report
EXPENDITURE REQUIRED: None
PROJECT: N/A
EXECUTIVE SUMMARY
Pursuant to the Public Funds Investment Act, not less than quarterly, the Investment Officer
shall prepare and submit to the entity a report of investment transactions.
Attached is the Investment Report for the quarter ending June 30, 2008. Highlights are:
❑ Beginning Book Value
$
5,290,652
❑ Ending Book Value
$
7,927,397
❑ Increase in Portfolio
$
2,636,746
❑ Interest Earned for Quarter
$
44,449
❑ Weighted Average Maturity
1 Day
❑ Weighted Average Yield
2.34%
❑ Agency Disc Benchmark
2.20%
❑ One Year T-Bill Benchmark
2.07%
❑ Portfolio Composition:
a. Cash
29%
b. Money Market
71 %
RECOMMENDED ACTION
Receive June 2008 Quarterly Investment Report.
Revised 2007-01-09