AGENDA CAPTION:
Title
Consider approval of Resolution 2020-79R, authorizing a participation in the U.S. Fixed Income Trust Investment Pools; designating authorized representatives; and declaring an effective date.
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Background Information:
The City of San Marcos currently uses several investment pool providers to maximize earnings on the City's cash investments. Investment pools provide investment options for local governments that are liquid and safe. City staff recommends adding an additional pool, Texas FIT which is managed by Water Walker Investments, to the investment pool portfolio. The addition of other pool allows the City the opportunity to maximize returns as return rates fluctuate between investment pools. This pool option was presented and approved by the Finance and Audit Committee on March 16, 2020. This pool meets the standards of Section 2256.016 of the Public Funds Investment Act, requires no minimum balance and funds wi...
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