Milam Appraisal District

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 3 Consent Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Presented minutes and budget reports as follows: a. Approve minutes of October 18, 2018 regular meeting STAFF RECOMMENDATION: Approve minutes as presented in item description. ITEM SUMMARY: Copies of minutes are included for Board review. FISCAL IMPACT: N/A ATTACHMENTS: Minutes - DRAFT

THE STATE OF TEXAS THE COUNTY OF MILAM MILAM APPRAISAL DISTRICT The Milam Appraisal District Board of Directors (BOD) convened in a regular meeting Thursday, October 18, 2018, at the Milam Appraisal District Office, 120 North Houston Street, Cameron, Texas. Attending: Board Members: Don Culp Tim Arledge Lisa Gerthe Travis Yoakum Staff: Danice Beathard, Business Manager Others: None Absent Board Members: Larry Patterson Sherry Mueck Item 1. Call to Order Having a voting quorum present, the meeting was called to order by Board Chair, Tim Arledge at 8:30 a.m. Invocation by Mr. Culp, moment of silence, pledge of allegiance to U.S. Flag, and pledge of allegiance to the Texas Flag. Item 2. Item 3. Citizen s Communication None Item 4. Consent Items All items listed under this section, Consent Items, are considered to be routine by the Board and may be enacted by one motion. If discussion is desired by the Board, any item may be removed from the Consent Items at the request of any Board Member and will be considered separately. a. Approve minutes of July 19, 2018 regular meeting b. Approve ARB Quarter Change Report - Quarter 3 Mrs. Gerthe made a motion to approve consent items as presented, Mr. Yoakum seconded the motion, and the vote was unanimous. Item 5. Consider New Business a. Discussion and possible action to approve the July Budget Reports b. Discussion and possible action to approve the August Budget Reports c. Discussion and possible action to approve the September Budget Reports Mrs. Gerthe made a motion to table the above items until the next scheduled Board Meeting due to internet outages and new server install causing the reports not to be complete, Mr. Yoakum seconded the motion, and the vote was unanimous. 1

d. Discussion and possible action to approve the 3 rd Quarter Investment Report. Mr. Yoakum made a motion to approve the 3 rd Quarter Investment Report, Mr. Culp seconded the motion and the vote was unanimous. e. Discussion and possible action to approve a resolution setting the 2019 TCDRS Retirement and Group Term Life rates. Mrs. Gerthe made a motion to approve the TCDRS Retirement and Group Term Life rates for 2019 that stayed the same from 2018, Mr. Arledge seconded the motion, and the vote was unanimous. Item 5. Chief Appraiser s report a. Reappraisal Plan The Chief Appraiser stated we are well into our 2019 Reappraisal of Gause, Lexington, Milano, Rosebud-Lott, and Thorndale School Districts. Appraisers have been reviewing vacant land on our aerial program with Pictometry and it is almost complete at this time in which they will be doing onsite inspections in the field for the same school districts. She also advised we have alerted Law Enforcement and the Media via News Release of the appraisers beginning their field review and onsite inspections. b. Litigation None to report. c. Board Calendar Review November meeting Selection of ARB members to attend training Advise and consent to Chief Appraiser s appointment(s) of the Ag Advisory Committee Accept the Annual Report Accept the Mass Appraisal Report Adopt 2019 Investment Policy Appoint 2019 Investment Officer December meeting Prepare for Chief Appraiser Evaluation Mrs. Gerthe made a motion to approve the Chief Appraiser s Report, Mr. Arledge seconded the motion, and the vote was unanimous. NOTE: Written reports of any above listed items provided to all BOD members are considered part of the BOD s minutes as reports. Item 6. Adjournment Having no further business to consider, on a motion by Mrs. Gerthe and seconded by Mr. Culp, approved by unanimous vote, the meeting adjourned at 8:41 a.m. 2

NOTE: Recording of the foregoing meeting on file for 90 days in the Milam Appraisal District Office, 120 North Houston Street, Cameron, Texas. The above and foregoing minutes examined and approved in open meeting this the 15 th day of November 2018. Attest: (Member) Chair of the Board 3

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4a Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: July Budget Reports presented for approval. STAFF RECOMMENDATION: description. Approve July Budget Reports as presented in item ITEM SUMMARY: Copy of July Budget Reports are included for Board review. FISCAL IMPACT: To be presented at meeting. ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4b Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: August Budget Reports presented for approval. STAFF RECOMMENDATION: Approve August Budget Reports as presented in item description. ITEM SUMMARY: Copy of August Budget Reports are included for Board review. FISCAL IMPACT: To be presented at meeting. ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4c Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: September Budget Reports presented for approval. STAFF RECOMMENDATION: Approve September Budget Reports as presented in item description. ITEM SUMMARY: Copy of September Budget Reports are included for Board review. FISCAL IMPACT: To be presented at meeting. ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4d Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: October Budget Reports presented for approval. STAFF RECOMMENDATION: Approve October Budget Reports as presented in item description. ITEM SUMMARY: Copy of October Budget Reports are included for Board review. FISCAL IMPACT: To be presented at meeting. ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4e Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Report. Discussion and possible action to accept the 2018 Annual STAFF RECOMMENDATION: Accept report as presented in item description. ITEM SUMMARY: Property Tax Code 5.05 allows the State Comptroller to approve publications relating to appraisal including but not limited to those requirements of the International Association of Assessing Officers (IAAO). Property Tax Code 23.01(b) requires districts using mass appraisal standards to comply with the Uniform Standards of Professional Appraisal Practice (USPAP). The IAAO Standard on Public Relations and the Milam Appraisal District s Standards on Public Relations policy states that the District will prepare and publish an annual report. The attached 2018 Annual Report meets the reporting criteria based on the requirements. The 2018 Annual Report includes: Summary of activities and accomplishments Statistical information Appeals data Budgetary & staff information Explanations of appraisal methods FISCAL IMPACT: N/A ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4f Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Appraisal Report. Discussion and possible action to accept the 2018 Mass STAFF RECOMMENDATION: Accept report as presented in item description. ITEM SUMMARY: Property Tax Code 5.05 allows the State Comptroller to approve publications relating to appraisal including but not limited to those requirements of the International Association of Assessing Officers (IAAO). Property Tax Code 23.01(b) requires districts using mass appraisal standards to comply with the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP requires that mass appraisal professionals produce an annual mass appraisal report. The attached 2018 Mass Appraisal Report meets the reporting criteria based on the requirements. The 2018 Mass Appraisal Report includes: Intended users and use of the appraisal Describes the scope of work performed Explain the mass appraisal Signed certification in accordance with USPAP Standards Rule 6 9 FISCAL IMPACT: N/A ATTACHMENTS: To be presented at meeting.

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4g Regular Agenda Page 1 of 2 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Discussion and possible action to advise and consent of the Chief Appraiser s appointments of the Agricultural Advisory Board. STAFF RECOMMENDATION: Approve appointments as described in item description. ITEM SUMMARY: In accordance with Property Tax Code 6.12, the Chief Appraiser, with the advice and consent of the Board of Directors, shall appoint an agricultural advisory board to advise the Chief Appraiser on the valuation and use of agricultural land. The advisory board must consist of at least three (3) members. The agricultural advisory board members must be landowners of the district whose land qualifies for appraisal under Subchapter C, D, E, or H, Chapter 23 of the Property Tax Code, and who have been residents of the district for at least five years. Members of the board serve for staggered terms of two years. Appraisal district officers and employees are ineligible to serve. The advisory board shall meet at the call of the Chief Appraiser at least once per year. A member of the agricultural advisory board is not entitled to compensation. The 2018 Ag Advisory Board meeting is scheduled for December 14, 2018 at 10:00 am. Current Agricultural Advisory Board for 2018: Ag Advisory Board Member Term Date Appointed James Burks 2015-2016 11/20/2014 Nelson Johnson 2016-2017 11/19/2015 William Pagach 2015-2016 11/20/2014 Joel Walzel 2016-2017 11/17/2016

11/15/2018 Item# 4g Regular Agenda Page 2 of 2 Proposed Agricultural Advisory Board: Ag Advisory Board Member Term Date Appointed Nelson Johnson 2018-2019 11/15/2018 William Pagach 2017-2018 11/17/2016 Arvin Jones 2018* 11/15/2018 Rosemary Rains-Hoyt 2018* 11/15/2018 Tracey Sadler 2018-2019 11/15/2018 *In order to have staggered two-year terms, two members will be appointed for 2018 only. They will be appointed for a two-year term beginning with 2019. FISCAL IMPACT: N/A ATTACHMENTS: None

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4h Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Discussion and possible action to approve Auxiliary ARB member and send them to the required training course in 2019. STAFF RECOMMENDATION: Discuss and approve at the pleasure of the Board. ITEM SUMMARY: The Board of Directors are required to appoint by resolution persons to serve on the Appraisal Review Board for two-year terms, staggered. In accordance with the Board of Directors Policy Manual, each year the Board shall appoint an auxiliary member to a term of one year as needed to assure ARB hearing(s) are in compliance with Property Tax Code. FISCAL IMPACT: N/A ATTACHMENTS: None

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4i Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Discussion and possible action to prepare for the Chief Appraiser evaluation in January 2019. STAFF RECOMMENDATION: Actions as noted above. ITEM SUMMARY: In accordance with the Board of Director s Policy Manual adopted May 2014, the Board shall evaluate the Chief Appraiser in executive session on an annual basis. At the September 18, 2014 meeting, the Board voted to have annual delivery of the work plan in December with the evaluation in January of each year. In preparation for the evaluation in January 2019, the Board will review and revise the job description and work plan if needed. As described in the Board of Director s Policy Manual under District Administration, the Chief Appraiser coordinates and implements the goals and objectives established by Board policy, provisions of the Property Tax Code, and other applicable laws and rules. The Chief Appraiser s responsibilities include numerous statutory responsibilities related to the development of appraisal rolls and the administration of the appraisal office. Additionally, the Chief Appraiser is assigned duties by the Board of Directors necessary for the conduct of Board duties and implementation of Board policy. There are ten (10) specific duties and responsibilities listed in the policy manual with the eleventh duty stating, And any other item included in the Chief Appraiser job description. FISCAL IMPACT: None ATTACHMENTS: None

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 4j Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Discussion and possible action to approve a resolution to adopt the Investment Policy for the Milam Appraisal District for 2019 and approve a resolution authorizing the Milam Appraisal District s Investment Officer to engage in financial transactions on behalf of the District for 2019. STAFF RECOMMENDATION: Adopt resolutions as described in item description. ITEM SUMMARY: In accordance with Government Code 1, the governing body of an investing entity shall review its investment policy and investment strategies not less than annually. The governing body shall adopt a written instrument by rule, order, ordinance, or resolution stating that it has reviewed the investment policy and investment strategies and that the written instrument so adopted shall record any changes made to either the investment policy or investment strategies. There are no changes presented in the investment policy or investment strategies. In addition to adopting an investment policy and investment strategies, each investing entity shall designate, by rule, order, ordinance, or resolution, as appropriate, one or more officers or employees of the state agency, local government, or investment pool as investment officer to be responsible for the investment of its funds consistent with the investment policy adopted by the entity. In the administration of the duties of an investment officer, the person designated as investment officer shall exercise the judgment and care, under prevailing circumstances, that a prudent person would exercise in the management of the person s own affairs, but the governing body of the investing entity retains ultimate responsibility as fiduciaries of the assets of the entity. FISCAL IMPACT: N/A ATTACHMENTS: Proposed 2019 Investment Policy - DRAFT 1 Title 10. General Government, Subtitle F. State and Local Contracts and Fund Management, Chapter 2256. Public Funds Investment, Subchapter A. Authorized Investments for Governmental Entities, Sec. 2256.005. Investment Policies; Investment Strategies; Investment Officer

2019 INVESTMENT POLICY MILAM APPRAISAL DISTRICT Adopted November 15, 2018 I. POLICY STATEMENT It is the policy of the Milam Appraisal District (the District ) that the administration of its funds and investment of those funds shall be handled as its highest public trust. Investments shall be made in a manner which will provide the maximum security of principal invested through limitations and diversification while meeting the daily cash flow needs of the District and conforming to all applicable state statutes governing the investment of public funds. The receipt of a market yield will be secondary to the requirements for safety and liquidity. It is the intent of the District to be in complete compliance with local law and the Texas Public Funds Investment Act (the Act ). The earnings from investment will be used in a manner that best serves the interests of the District. II. SCOPE This investment policy applies to all the financial assets and funds of the District. The District commingles its funds into one investment fund for investment purposes for efficiency and maximum investment opportunity. Any new funds created by the District will come under this Policy unless specifically exempted by the District Board and this policy. III. OBJECTIVES AND STRATEGY It is the policy of the district that all funds shall be managed and invested with four primary objectives, listed in order of their priority: safety, liquidity, diversification and yield. Investments are to be chosen in a manner which promotes diversity by market sector, credit and maturity. The choice of high-grade government investments and high-grade, money market instruments is designed to assure the marketability of those investments should liquidity needs arise. To match anticipated cash flow requirements, the maximum weighted average maturity of the overall portfolio may not exceed three months. Safety of Principal Safety of principal is the foremost objective of the District. Investments of the District shall be undertaken in a manner that seeks to insure the preservation of capital in the overall portfolio. Liquidity The District s investment portfolio will be based on a cash flow analysis of needs and will remain sufficiently liquid to enable it to meet all operating requirements which might be reasonably anticipated. Diversification Diversification of the portfolio will include diversification by maturity and market sector and will include the use of a number of broker/dealers for diversification and market coverage. Competitive bidding will be used on each sale and purchase. Yield The District s investment portfolio shall be designed with the objective of attaining a reasonable yield, taking into account the District s risk constraints and the cash flow needs of the portfolio. The benchmark for the portfolio will be the average yield of the current three month U.S. Treasury Bill for the same period. Effective cash management is recognized as essential to good fiscal management. Cash management is defined as the process of managing monies in order to ensure maximum cash availability. The District shall maintain a cash management program which includes collection of accounts receivable, prudent investment of its available cash, disbursement of payments in accordance with invoice terms and the management of banking services. 1 REV D. 10/2012

IV. LEGAL LIMITATIONS, RESPONSIBILITIES AND AUTHORITY Direct specific investment parameters for the investment of public funds in Texas are found in the Public Funds Investment Act, Chapter 2256, Texas Government Code, (the Act ). The Public Funds Collateral Act, Chapter 2257, Texas Government code, specifies collateral requirements for all public funds deposits. All investments will be made in accordance with these statutes. V. DELEGATION OF BOARD INVESTMENT AUTHORITY The Chief Appraiser, acting on behalf of the District, is designated as the Investment Officer of the District. The Chief Appraiser may delegate authority to his/her employee(s) pursuant to Section 6.05 (e) of the Texas Property Tax Code. The Investment Officer is responsible for investment management decisions and activities. The Investment Officer is responsible for considering the quality and capability of staff, investment advisors, and consultants involved in investment management and procedures. All participants in the investment process shall seek to act responsibly as custodians of the public trust. The Investment Officer shall develop and maintain written administrative procedures for the operation of the investment program which are consistent with this Investment Policy. Procedures will include reference to wire transfer agreements, banking services contracts, and other investment related activities. No Officer or designee may engage in an investment transaction except as provided under the terms of this Policy and the procedures established. Authorization Resolution A resolution is established with this Investment Policy, and attached hereto, authorizing the Investment Officer to engage in investment transactions on behalf of the District. The persons authorized by the resolution to transact business for the District are also authorized to approve wire transfers used in the process of investing. VI. PRUDENCE The standard of prudence to be used in the investment function shall be the prudent person standard and shall be applied in the context of managing the overall portfolio. This standard states: Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the expected income to be derived. Limitation of Personal Liability The Investment Officer and those delegated investment authority under this Policy, when acting in accordance with the written procedures and this Policy and in accord with the Prudent Person Rule, shall be relieved of personal liability in the management of the portfolio provided that deviations from expectations for a specific security s credit risk or market price change or portfolio shifts are reported in a timely manner and that appropriate action is taken to control adverse market effects. VII. INTERNAL CONTROLS The Investment Officer shall establish a system of written internal controls which will be reviewed annually with the independent auditor of the District. The controls shall be designed to prevent loss of public funds due to fraud, employee error, misrepresentation by third parties, unanticipated market changes, or imprudent actions by employees of the District. Cash Flow Forecasting Cash flow forecasting is designed to protect and sustain cash flow requirements of the District. Supplemental to the financial and budgetary systems, the Investment Officer will maintain a cash flow forecasting process designed to monitor and forecast cash positions for investment purposes. 2 REV D. 10/2012

VIII. AUTHORIZED INVESTMENT Acceptable investment under this policy shall be limited to the instruments listed below and as further described by the Public Funds Investment Act. A. Obligations of the United States Government, its agencies and instrumentalities, and government sponsoring enterprises, not to exceed one year to stated maturity, excluding collateralized mortgage obligations (CMOs); B. Fully insured or collateralized certificates of deposit from a bank doing business in the State of Texas and under the terms of a written depository agreement with that bank, not to exceed one year to stated maturity; C. No-load, AAA-rated, SEC registered money market funds, and D. AAA-rated, constant dollar Texas Local Government Investment Pools as defined by the Public Funds Investment Act and approved by resolution of the Board. If additional types of securities are approved for investment by public funds by state statute, they will not be eligible for investment by the District until this policy has been amended and the amended version approved by the District Board. Competitive Bidding Requirement All securities, including certificates of deposit, will be purchased no less than two (2) offers are taken to verify that the District is receiving fair market price for the investment. Delivery versus Payment All security transactions entered into by the District, shall be conducted on a delivery versus payment (DVP) basis. IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS All investments made by the District will be made through either the District s banking services bank, a bank in Texas, or an approved broker/dealer. The Board will review the list of the authorized broker/dealers annually. A list of at least three broker/dealers/banks/pools will be maintained in order to assure competitive bidding. Securities broker/dealers must meet certain criteria as determined by the Investment Officer. following criteria must be met by those firms on the list: The - proof of certification by the National Association of Securities Dealers (NASD) and provision of CRD number, and - proof of current registration with the Texas State Securities Commission. Every broker/dealer and bank with whom the District transacts business will be provided a copy of this Investment Policy to assure that they are familiar with the goals and objectives of the investment program. A representative of the firm will be required to return a signed certification stating that the Policy has been received and reviewed and that controls are in place to assure that only authorized securities are sold to the District. X. DIVERSIFICATION AND MATURITY LIMITATIONS It is the policy of the District to diversity its investment portfolio. Invested funds shall be diversified to minimize the risk or loss resulting from over-concentration of assets in a specific maturity, specific issue, or specific class of securities. Diversification strategies shall be established and periodically reviewed. The Investment Officer shall be required to diversify maturities. The Investment Officer, to the extent possible, will attempt to match investment with anticipated cash flow requirements. Matching maturities with cash flow dates will reduce the need to sell securities prior to maturity, thus reducing market risk. 3 REV D. 10/2012

Unless matched to a specific requirement, the Investment Officer may not invest more than 20% of the portfolio for a period greater than three months. XI. SAFEKEEPING AND COLLATERALIZATION The laws of the State and prudent treasury management require that all purchased securities be bought on a delivery versus payment basis and be held in safekeeping by either the District, an independent third party financial institution, or the District s designated banking services depository. All safekeeping arrangements shall be designated by the Investment Officer and an agreement of the terms executed in writing. The third party custodian shall be required to issue safekeeping receipts to the District listing each specific security, rate, description, maturity, cusip number, and other pertinent information. Each safekeeping receipt will be clearly marked that the security is held for the District or pledged to the District. All securities pledged to the District for certificates of deposit or demand deposits shall be held by an independent third party doing business in Texas. The safekeeping bank may not be within the same holding company as the bank from which the securities are pledged. Collateralization Collateralization is required on all bank time and demand deposits in excess of the Federal Deposit Insurance Corporation insurance. In order to anticipate market changes and provide a level of additional security for all funds, the collateralization level required will be 102% of the market value of the principal and accrued interest. Collateral will be held by an independent third party safekeeping agent. XII. PERFORMANCE EVALUATION AND REPORTING The Investment Officer shall submit a quarterly report to the District Board containing sufficient information to permit an informed outside reader to evaluate the performance of the investment program and consistent with statutory requirements of the Act. Market prices for market evaluations will be obtained from an independent source. XIII. DEPOSITORIES The District will designate one banking institution through a competitive process as its central banking service provider at least every five years. This institution will be used for normal banking services including disbursements, collections, and safekeeping of securities. Other banking institutions from which the District may purchase certificates of deposit will also be designated as a depository after they provide their latest audited financial statements to the District. XIV. INVESTMENT POLICY ADOPTION BY DISTRICT BOARD The District s Investment Policy shall be adopted annually by the Board. A written resolution adopting the Policy and noting any changes to the Policy will be passed and recorded by the Board. 4 REV D. 10/2012

RESOLUTION NO. 1 OF 2019 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE MILAM APPRAISAL DISTRICT, ADOPTING THE INVESTMENT POLICY FOR MILAM APPRAISAL DISTRICT FOR THE YEAR 2019 AND APPROVES CURRENT INVESTMENT STRATEGIES; AND PROVIDING AN OPEN MEETINGS CLAUSE. WHEREAS, its Board of Directors acknowledges that governing body of Milam Appraisal District is required by the Public Funds Investment Act to annually review and adopt by resolution the District s investment policy and investment strategies; and WHEREAS, the Board members, by virtue of the adoption of this resolution, acknowledge that the investment policy and investment strategy have been reviewed and approved. NOW, THEREFORE, BE IT RESOLVED that the Milam Appraisal District Board of Directors, in legal session convened, adopts the Milam Appraisal District Investment Policy for the year 2019 and approves the current investment strategies as required by the Public Funds Investment Act. PASSED AND APPROVED this the 15 th day of November, A.D., 2018. MILAM APPRAISAL DISTRICT BOARD OF DIRECTORS Tim Arledge, Board Chair Don Culp, Vice Chair Lisa Gerthe, Secretary Sherry Mueck, Ex-Officio Member Larry Patterson, Member Travis Yoakum, Member

RESOLUTION NO. 2 OF 2019 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE MILAM APPRAISAL DISTRICT, AUTHORIZING THE CHIEF APPRAISER TO SERVE AS THE MILAM APPRAISAL DISTRICT S INVESTMENT OFFICER, TO ENGAGE IN INVESTMENT TRANSACTIONS ON BEHALF OF THE DISTRICT FOR THE YEAR 2019; AND PROVIDING AN OPEN MEETINGS CLAUSE. WHEREAS, its Board of Directors adopts an investment policy annually, and WHEREAS, the Appraisal District s Investment Policy allows the Board to authorize the Chief Appraiser to serve as the Appraisal District s Investment Officer, to engage in investment transactions, including approving wire transfers used in the process of investing, on behalf of the District, and WHEREAS, the Board desires to have the Chief Appraiser to act in this capacity. NOW, THEREFORE, BE IT RESOLVED that the Milam Appraisal District Board of Directors, in legal session convened, authorizes the Chief Appraiser to act in accordance with the duly adopted Investment Policy to perform said investment transactions on behalf of the District. PASSED AND APPROVED this the 15 th day of November, A.D., 2018. MILAM APPRAISAL DISTRICT BOARD OF DIRECTORS Tim Arledge, Board Chair Don Culp, Vice Chair Lisa Gerthe, Secretary Sherry Mueck, Ex-Officio Member Larry Patterson, Member Travis Yoakum, Member

Milam Appraisal District AGENDA ITEM MEMORANDUM 11/15/2018 Item# 5 Regular Agenda Page 1 of 1 DEPT./DIVISION SUBMISSION & REVIEW: ITEM DESCRIPTION: Chief Appraiser s Report: a. Receive 2019 Reappraisal Plan Report b. Litigation report c. Board calendar review STAFF RECOMMENDATION: Receive report from Chief Appraiser. ITEM SUMMARY: a. Receive 2019 Reappraisal Plan Report To be presented. b. Litigation Report None to report. c. Board Calendar Review December meeting Historically cancelled due to the holidays January meeting i. Affirm TDLR Registration and Education ii. Affirm Employee Property Interest Reporting iii. 4 th Quarter Investment Report iv. Accept ARB 4 th Quarter Change Report (delivered to Board & ARB by 10 th of month following end of quarter) v. Receive engagement letter to perform annual audit for prior year vi. Chief Appraiser Evaluation in Executive Session FISCAL IMPACT & ATTACHEMENTS: Board of Director s 2019 Meeting Schedule

MILAM APPRAISAL DISTRICT Reimbursable expenses - copies & postage Board of Directors 2019 Meeting Schedule [3rd Thursday of each month unless otherwise noted] Location: 120 N. Houston, Cameron, Texas Thursday, January 17, 2019 [8:30 a.m.] Thursday, February 21, 2019 [8:30 a.m.] Thursday, March 21, 2019 [8:30 a.m.] Thursday, April 18, 2019 [8:30 a.m.] Thursday, May 16, 2019 [8:30 a.m.] Thursday, June 20, 2019 [8:30 a.m.] Thursday, July 18, 2019 [8:30 a.m.] Thursday, August 15, 2019 [8:30 a.m.] Thursday, September 19, 2019 [8:30 a.m.] Thursday, October 17, 2019 [8:30 a.m.] Thursday, November 21, 2019 [8:30 a.m.] Thursday, December 19, 2019 [8:30 a.m.]