Item Coversheet

CITY COUNCIL AGENDA COMMUNICATION
AGENDA DATE:September 11, 2018
SUBJECT:

Adopt a Resolution Amending Authorized City Representatives to Conduct Transactions and Inquiries with TexSTAR.

STAFF RESOURCE:

Eric Cannon, Chief Financial Officer

PREVIOUS COUNCIL ACTION:

On July 8, 2003, the City Council adopted Resolution No. 2187-7-03(R) authorizing certain city staff to conduct investments with TexSTAR.

On August 11, 2015, the City Council adopted Resolution No. 3320-8-15(R) amending the authorized city representatives to conduct transactions and inquiries with TexSTAR.

On July 11, 2017, the City Council adopted Resolution No. 3493-7-17(R) amending the authorized city representatives to conduct transactions and inquiries with TexSTAR.

ACTION PROPOSED:

Adopt a Resolution Amending Authorized City Representatives to Conduct Transactions and Inquiries with TexSTAR.




BACKGROUND

The City maintains some of its investments with Texas Short Term Asset Reserve Program(TexSTAR). TexSTAR requires a resolution amending authorized representatives to be adopted by the City Council. This amendment is necessary in order to add the new Controller and Senior Accountant as authorized investment officers with TexSTAR.


STAFF RECOMMENDATION

Staff recommends that the City Council adopt a resolution amending authorized City representatives to conduct transactions and inquiries with TexSTAR.


MOTION

I make a motion to adopt Resolution No. ___________ amending the authorized City representatives to conduct transactions and inquiries with TexSTAR.



ATTACHMENTS:
Description
Resolution