Title
Approving a resolution for an application of participation in Texas Cooperative Liquid Assets Security System program (Texas CLASS)
Summary
Recommendation to approve an application for participation in the Texas Cooperative Security System program (Texas CLASS) Included in the agenda exhibit is information pertaining to the application. It is recommended that board approve the application as submitted to provide the city with and additional investment option emphasizing safety and liquidity.
Prior City Council Action
City Council has previously approved TexPool and LoneStar as pool accounts for City funds.
Deadline for City Council Action
N/A
Funding Expected: Revenue __ Expenditure __ N/A _x_
Budgeted Item: Yes __ No __ N/A _x_
Amount: _N/A_______
1295 Form Required? Yes __ No x__
Legal Review Required: N/A __ Required _x_ Date Completed: _11/1/2021__________
Supporting documents attached:
Resolution, exhibit A Information Statement, Trust Agreement
Recommended Action:
Staff recommends approval of the resolution as submitted.