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Board hears bond-proceeds investment strategy and adopts investment policy CDA resolution
Summary
The board received an economic and portfolio update from Hilltop Asset Management on investing bond proceeds and adopted investment policy CDA. Hilltop recommended a conservative laddered approach to lock in interest and preserve liquidity; the district reported it expects to earn roughly $18 million from bond proceeds under the current strategy.
The Mesquite ISD Board of Trustees on Sept. 16 received an update from Hilltop Asset Management on economic conditions, the Federal Reserve outlook and the district’s strategy for investing recent bond proceeds, and voted to adopt the district’s investment policy (CDA) resolution.
Scott McIntyre, Hilltop’s senior portfolio manager, briefed trustees on macroeconomic indicators, noting slowing job growth, inflation trends and market expectations for Federal Reserve rate cuts. He said the district’s approach for the $100 million in bond proceeds was to keep a portion…
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