CC MEETING: March 26, 2020
DATE: Mach 18, 2020
TO: Kevin W. Falconer, Mayor
FROM: Robert B. Scott, Assistant City Manager
Title
Consider A Resolution Authorizing The Mayor To Amend The Individuals Authorized To Invest Funds And Make Withdrawals From The Public Funds Investment Pool Known As “TexPool,” On Behalf Of The City.
Body
BACKGROUND:
Due to changes in City staff an updated list of individuals authorized to invest funds and make withdrawals from TexPool need to be updated, approved by resolution and provided to the Local Government Pool known as TexPool.
FINANCIAL IMPLICATIONS:
These individuals will be allowed to transact on behalf of the City from small to large sums of funds identified by daily cash management as needed to cover the city day to day operations.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends passage of resolution authorizing the Mayor to authorize the individuals listed on the attached resolution as Authorized City Representatives to invest or withdraw funds from the government pool known as TexPool.