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Lubbock council backs investment-policy revisions, staff moves to lower commercial-paper exposure
Summary
The council approved a consent-item resolution updating Lubbock's investment policy after staff and the audit and investment committee recommended reducing the allowable commercial-paper share to 10%. CFO Joe Jimenez said the city earned about $17.1 million from investments in fiscal year 2025.
Lubbock City Council voted to approve a consent-agenda resolution that revises the city's investment policy and strategy, part of a routine update recommended by the audit and investment committee. The item was considered as part of the consent agenda and passed unanimously.
City CFO Joe Jimenez told council the audit and investment committee reviews the annual consolidated financial report and offers investment recommendations. He…
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