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Item # 7.
Work Session and Regular Meeting
Consider Action on a
Resolution to Approve Amending the Town of Addison's Authorized Representatives to the Texas Local Government Investment Pool - TexPool/Texpool Prime.
The Town invests a portion of its portfolio in a local government investment pool known as TexPool/Texpool Prime. The Pool invests primarily in short-term securities maturing in less than seven (7) days. As such, TexPool/Texpool Prime offers the Town a competitive short-term yield with the added flexibility of immediate funds availability.
The list of authorized representatives with TexPool/Texpool Prime needs to be amended to reflect staff and designation changes. To make changes to our authorized representatives, TexPool/Texpool Prime requires that the City Council approve/authorize the changes by resolution. Those changes include the following:
Addition of Steven Glickman, Chief Financial Officer, as an Authorized and Primary Representative for performing transactions and receiving confirmation and monthly statements under the Participation Agreement;
Amanda Turner, Controller, will continue as an Authorized Representative; and
Senior Accountant Lauren Arnold and Accountant Benjamin Nguyen will continue to be designated to perform only inquiry of selected information. This limited representative cannot perform transactions.
Administration recommends approval.
Resolution - TexPool Authorized Representative
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