Agenda

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Work Session and Regular Meeting

Meeting Date:	05/28/2019
Department:	Finance

AGENDA CAPTION:

Consider Action to Approve a Resolution Amending the Town of Addison's Authorized Representatives for the TexSTAR Short Term Asset Revenue Fund.

BACKGROUND:

The Town invests a portion of its investment portfolio in a local government investment pool known as TexSTAR. The pool invests primarily in short-term securities maturing in less than seven (7) days and Town funds are available at any time without penalty. As such, TexSTAR offers the Town a competitive short-term investment yield with the added flexibility of immediate funds availability.

The list of authorized representatives with TexSTAR needs to be amended to reflect staff, title and designation changes. These include:

Removing Cheryl Delaney;
Adding Olivia Riley and designating her as the Primary Contact;
Designating Amanda Turner for "Approvals;"
Designating Benjamin Nguyen for "Inquiry Only;" and,
Lauren Arnold remains as "Inquiry Only' (no form required).

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - TexSTAR Representatives Amendment
Form - TexSTAR Authorized Representatives