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Kennedale council approves participation in LOGIC investment pool
Summary
Kennedale City Council voted to add the Local Government Investment Cooperative (LOGIC) to the city's investment options, approving a planned reallocation of roughly $14.5 million and citing a slightly higher yield from LOGIC's commercial paper allocation.
The Kennedale City Council on Oct. 21 approved a resolution to participate in the Local Government Investment Cooperative (LOGIC), a pooled investment product managed by Hilltop Securities and JPMorgan, with the motion passing 3-0 and one abstention.
Council members and staff said the move gives the city an option offering marginally higher yield while maintaining daily liquidity. Hilltop Securities representative Lance Flores described LOGIC as a "prime pool" that, unlike government-only pools,…
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