CC MEETING: January 9, 2024
DATE: December 20, 2023
TO: Steve Babick, Mayor
Erin Rinehart, City Manager
FROM: Diana K. Vaughn, Chief Financial Officer
Chrystal K. Davis, 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 turnover in City staff the list of individuals authorized to invest funds and make withdrawals from TexPool needs 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 to provide funds needed to cover the city’s daily operations.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommend passing a resolution authorizing the Mayor to update the list of individuals on the attached resolution who are “Authorized City Representatives” who can invest or withdraw funds from the government pool known as TexPool.