Travis County Commssioners Court
January 14, 2003
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Housing Finance Corporation
Good afternoon. Let's call on order the Travis County housing finance corporation. 1. Approve minutes for board of directors meeting of December 31, 2002.
>> so move.
>> second. Million dollar middle all in favor? That passes by unanimous vote. 2. Review the corporation's investment policies and procedures, and take appropriate action.
>> good afternoon, him harvey Davis.
>> good afternoon.
>> if you are the corporation [inaudible] my colleague mary mays, the public [papers shuffling - audio interference] fund investment acts [inaudible] review their investment policy, at least annually. So that's the purpose of this agenda item. As you know, the corporation investment is limited to having a bank account and the tex pool account. So we have recommended a few changes, which are minor in nature. Designed to -- to better clarify the -- that the limitation of the investments and to -- to make it a little bit shorter and clearer.
>> this is not the time for us to demand higher interest, is it? [ laughter ]
>> well, we can demand them all we want. But -- if the board has any questions --
>> questions? You all are doing a good job of highlighting changes. When we do, I know we have the advisory committee that works with us on the -- on the Travis County policies and procedures, do they also work with us on this?
>> no, they have not. But of course i've worked with harvey and would, you know, implement certainly I think -- suggest that we implement any broad decision that the committee made. Currently it is a Travis County committee and so -- so hasn't really addressed the corporations.
>> when we put together the corporations policies, we do them with the Travis County policy in mind, I take it.
>> and with changes in the law, certainly.
>> yeah. Actually, one of the recommended changes that we have is to -- to change the certification form that really is like a Travis County certification form. I think the one in the policy now was a little outdated, outdated language.
>> okay. Questions, comments?
>> move approval.
>> second.
>> with the changes highlighted by mr. Davis.
>> as recommended. Any more discussion? All in favor? That passes by unanimous vote. Move we adjourn.
>> second.
>> all in favor? That passes man unanimously also.
Last Modified: Wednesday, April 2, 2003 10:25 AM