Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Heath staff reviews investment policy under Texas law; Hilltop outlines bond structure and February sale timeline
Summary
City finance staff briefed the Heath Finance Board on the city's investment policy under the Texas Public Funds Investment Act and the composition of the city's portfolio; Hilltop Securities presented an illustrative CO structure and a February sale timetable for roughly $40 million in capital needs.
City finance staff and an outside municipal adviser gave separate briefings to the Heath Finance Board on Nov. 6 about the city's investment policy and a potential bond sale to fund capital projects.
Jay, a city finance staff member, opened the investment-policy discussion by citing the Texas Public Funds Investment Act (Texas Local Government Code, Chapter 2256) and the policy goals it requires: safety, liquidity and yield. Jay said the city's current policy limits general-operating investments to maturities of two years or less (a restriction that is stricter than the state law, which permits longer maturities), requires annual training for qualified investment officers and mandates quarterly investment reporting.
Jay said that at fiscal-year end the city had about $84.2…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
