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Windcrest EDC votes to move $1 million into Lone Star corporate overnight fund pending legal review
Summary
The Windcrest Economic Development Corporation unanimously authorized a pending-legal review transfer of $1,000,000 from its Frost Bank account into the First Public Lone Star corporate overnight fund to seek higher short-term returns while retaining same‑day liquidity.
The Windcrest Economic Development Corporation board voted unanimously to transfer $1,000,000 from its Frost Bank account into the First Public Lone Star corporate overnight fund, pending legal review.
Board members said the move is intended to increase short-term investment yield while preserving liquidity. The board’s financial report showed a cash position of about $1,256,000 and total assets near $1,402,000 through February. Presenters cited current yields in the Lone Star corporate overnight fund…
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