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Council hears Texas Class presentation, requests investment policy and tables decision
Summary
A representative from Texas Class explained the cooperative investment trust; the council voted to table joining the trust until members draft and review a municipal investment policy.
Travis, a representative from Texas Class, presented information about the Texas Cooperative Liquid Assets Securities System Trust and how the program operates. The presentation provided an overview but the transcript does not include verbatim details of the products or yield information.
Following the presentation Councilmember Alex Witherspoon moved to table any decision on participation until the council had prepared an investment policy; Councilmember Gloria Martin seconded and the motion passed unanimously. The council did not authorize any funds or commit to enrollment during the March 3 meeting.
