AGENDA CAPTION:
Title
Consider approval of Resolution 2026-179R, authorizing participation in Texas Connect Investment Pool; designating authorized representatives; and declaring an effective date.
Body
Meeting date: October 7, 2026
Department: Finance - Jon Locke, Finance Director
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
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Background Information:
The City of San Marcos currently uses several Local Government Investment Pools (LGIP) providers to maximize earnings on the City’s cash investments. LGIP’s provide investment options for local governments that are liquid and safe. City staff recommends adding an additional pool, Texas Connect, which is managed by Meeder Public Funds Inc., to the investment pool portfolio. The addition of another pool allows the City the opportunity to maximize returns as return rates fluctuate between investment pools.
Texas Connect pool option was presented to the Finance and Audit Committee on September 22, 2026. This pool meets the standards of Section 2256.016 of the Public Funds Investment Act, requires no minimum balance, and funds will be invested when rates are comparable to other pools to maintain security and diversity. Standard & Poor’s Rating ...
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