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City administrator introduces IPAIT investment option; materials provided for future resolution
Summary
City Administrator Troy Kelsay introduced Paul Kruse of the Iowa Public Agency Investment Trust, who explained the trust's purpose and left materials for a resolution that would enable the city to invest. No council action was taken at the Feb. 10 meeting.
City Administrator Troy Kelsay introduced Paul Kruse of the Iowa Public Agency Investment Trust (IPAIT) at the Feb. 10 University Heights council meeting. Paul Kruse explained the Trust’s purpose and left informational materials describing how local governments may invest funds through IPAIT. The council did not take action at the meeting; the materials were provided for consideration via a potential future resolution.
Kelsay presented the materials as background for a forthcoming agenda item that would authorize the city to participate in the Trust if the council chooses to adopt a resolution. No vote was recorded on an investment authorization during the Feb. 10 meeting.
The presentation was informational only; next procedural steps would be for staff or a council member to place a resolution on a future agenda if the council wishes to proceed.
