Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Investment representative briefs commissioners on TexSTAR and LOGIC local government pools
Summary
An investment representative described TexSTAR and LOGIC as liquid, government-only investment pools offering yields above current checking rates; commissioners heard about rates, liquidity and customer service but did not take action.
An investment representative briefed Freestone County Commissioners on TexSTAR and LOGIC, two local-government investment pools that hold U.S. Treasuries and agency securities and provide liquidity for public funds.
The representative explained that the pools are designed as high-yield, government-only cash alternatives that comply with the Texas Public Funds Investment Act. He said TexSTAR currently pays about 4.31% and LOGIC about 4.41% and emphasized same-day liquidity when orders are received before the pools' cutoff time. He also compared user interfaces and customer service, saying LOGIC offered higher rates and a more user-friendly service and that his firm provides localized customer support for East Texas clients.
Why it matters: Placing county cash in a government investment pool can increase yield on idle funds while maintaining liquidity and preserving capital for county operations and payroll.
Next steps: Commissioners received the presentation and could consider moving funds into a pool later; no motion or vote on fund transfers was recorded in the transcript.
