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Frio County votes to join TexPool, plans to invest roughly $15 million
Summary
The commissioners approved resolutions to participate in TexPool and a taxable investment pool and designated Crystal Marquez and Pete Martinez as authorized representatives; county staff said about $15,000,000 is expected to be invested at month-end.
Frio County Commissioners approved a resolution to participate in TexPool investment services and separately approved a taxable investment pool participation agreement during their special October 2024 session.
County staff explained the action followed an update to the county’s investment policy for 2025 and that the county plans to invest approximately $15,000,000 expected to arrive at the end of the month. Staff said the county currently lacks a formal investment committee; the court designated Crystal Marquez and Pete Martinez as authorized representatives while the county plans to form a committee of roughly five members at a later date.
A county representative said, "we plan to invest that 15,000,000 that we're gonna be receiving at the end of the month and try to get some investments out of that," and described next steps for committee formation and bringing specific investment offers back to the court for approval. The motions to approve the resolution and the participation agreement were made by Commissioner Martinez, seconded and recorded as passed.
Officials noted staff will return to the court to present specific investment offers and to establish the formal investment committee; the transcript records no specific investment instruments or projected return figures on the record.
