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Council updates authorized financial representatives for LGIP and Techstar accounts
Summary
Council updated the authorized signers for the city’s pooled investment accounts and check signers, removing one official and adding a new finance representative to LGIP/Techstar and check authorization lists; council approved the changes unanimously.
The Odessa City Council approved resolutions updating the city’s authorized representatives for pooled investment accounts and check‑signing authority.
Finance staff presented routine updates to add Mister Vela to the Local Government Investment Pool (LOGIC/Techstar) authorized‑signer lists and to remove Mister Morton. Staff clarified the city’s existing check policy: checks under $10,000 may include facsimile signatures and checks over $10,000 require ink signatures from both a finance official and the city manager; the resolution updates will add Mister Vela to the set of authorized signers for pooled funds and remove the outgoing official.
Council approved the resolutions unanimously. Staff said the city will continue dual‑signature controls for checks and will implement the personnel changes in the bank and investment account records.
