(8)(d)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 07/16/2025
- Title:
- Consider and take action to authorize participation in the TexStar and LOGIC Investment Pool.
- Submitted For:
- Cynthia Rushing
- Submitted By:
- Cynthia Rushing, Finance
- Department:
- Finance
Information
ACTION REQUEST
Approve the City’s participation in the TexStar and LOGIC investment pool.
BACKGROUND (Brief Summary)
The City of Texas City seeks to enhance the diversification, safety, and yield of its available funds by participating in a qualified local government investment pool, as permitted under the Texas Public Funds Investment Act. TexStar and LOGIC Investment Pool, authorized under the Act, provide public entities with a professionally managed and secure investment option for idle funds.
The City recently received $74 million in Certificate of Obligation bond proceeds, which will be drawn for construction and project-related expenses over time. Participation in TexStar and LOGIC will enable the City to maximize interest earnings on these proceeds while maintaining 100% liquidity throughout the drawdown period.
The City recently received $74 million in Certificate of Obligation bond proceeds, which will be drawn for construction and project-related expenses over time. Participation in TexStar and LOGIC will enable the City to maximize interest earnings on these proceeds while maintaining 100% liquidity throughout the drawdown period.
RECOMMENDATION
Approve the City’s participation in the TexStar and LOGIC investment pool.