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Durant council approves updated investment policy to reflect state statute changes
Summary
City staff told the council that recent consolidations in state statutes prompted an update to the city's investment policy; the council approved the revised policy by roll call.
Durant city staff told the council the city's investment policy needed updating after the state consolidated statutes governing municipal investing (SEG 150-157). Staff said the consolidation was intended to make the law easier to understand, and presented a draft policy aligned with the revised statute language.
With no council questions recorded, a motion to approve item 4a (the updated investment policy) was made, seconded and approved by roll call (yes votes recorded from the members present) (SEG 159-174). The transcript does not specify which city funds or exact procedural changes were made to the policy text; staff referenced only that the statute consolidation prompted the update.
