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Fabens ISD names superintendent and finance director as investment officers under Public Funds Investment Act
Summary
The board designated Superintendent Rogelio Segovia and Finance Director Lily Nunez as the district's investment officers by resolution, meeting the Public Funds Investment Act requirement; trustees approved the resolution unanimously.
The Fabens ISD Board of Trustees unanimously adopted a resolution on June 25 designating Superintendent Rogelio Segovia and Lily Nunez, the district's director of finance, as investment officers for the district.
Superintendent Segovia read the resolution on the record and cited Section 2256.005(f) of the Texas Government Code (Public Funds Investment Act) as the authority requiring the board to appoint one or more investment officers. The resolution grants the named individuals authority to invest district funds as directed by the board.
Trustee Mr. Ornelas moved to approve the resolution, and Mr. Greg Spence seconded. The board voted and recorded the motion as passed; the administration said the designation remains in effect until rescinded or until the named individual's employment ends.
The resolution will be signed by the board president and vice president and entered into the district's official records.
