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Navasota updates investment and purchasing policies to reflect state law and tighten controls
Summary
Council reviewed updates that name the city manager and finance director as investment officers, formalize PFIA compliance and quarterly reporting, and revise purchasing thresholds to reflect a recent state-law change raising the competitive-bidding trigger to $100,000.
City staff told the council that two policy updates—investment and purchasing—are intended to modernize governance and align city practice with current Texas law.
On investments, staff emphasized adherence to the Texas Public Funds Investment Act, designated the city manager and finance director as investment officers, and recommended continued reliance on state investment pools for liquidity and yield. The…
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