Grandview aldermen approve ordinance to allow city to invest through Missouri pooled program

The Grandview Board of Aldermen voted unanimously to adopt an ordinance authorizing the city to enter an intergovernmental cooperation agreement to invest public funds through the Missouri Securities Investment Program.

The measure began as Bill 7834 and, after three readings, passed final passage and was enacted as Ordinance 7572. Council members said the program provides an additional option for managing the city’s short-term funds when market conditions make it appropriate.

Kurt (last name not specified), a city staff member present at the meeting, described the program as an additional tool the city can use when it is competitive. No member of the board offered opposition during the readings and final vote.

The ordinance was moved and seconded for each reading before the roll calls and final passage vote. The roll-call recorded “aye” votes from Alderman Jones, Alderman Rousey, Alderman Hartman, Alderman Maloney and Alderman Kendrick on readings and final passage. The ordinance was announced as Ordinance number 7572 after passage.

The ordinance text authorizes the mayor and city staff to enter the intergovernmental cooperation agreement; the transcript did not include the agreement’s full terms, any dollar amounts, or an implementation timeline.

The council did not attach an implementing appropriation or identify immediate transfers; staff thanked Kurt and his team for making the option available and said the program would be another tool to use "when the time is right and if they’re competitive enough."