Title
Consider a resolution authorizing the Mayor to execute a Participation Agreement with TexasTERM for the purpose of transmitting local funds for investment in TexasTERM.
Body
The City would like to participate in the TexasTerm local government investment pool to further diversify its investment portfolio while maintaining safety of principal, liquidity, and yield consistent with the Public Funds Investment Act (PFIA) and the City's Investment Policy. This resolution is to approve the participation agreement and application which authorizes TexasTerm to set up an account for the City of Round Rock. This pool meets the requirements for the Public Funds Investment Act (PFIA) and the City's Investment Policy.
Recommended Action
Staff recommends approval