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Council accepts public funds investment report showing 102% pledged coverage

City Council of the City of Monahans · January 27, 2026
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Summary

City Manager Rex M. Thee told the council that public funds are secured "by pledges in third party banks at 102%" and the council approved the quarter-ending Dec. 31, 2025 report unanimously.

City Manager Rex M. Thee presented the Public Funds Investment Report for the quarter ending Dec. 31, 2025 and told the council that "the public funds are secured by pledges in third party banks at 102%." Councilman Calvin Carrell moved to approve the report and Councilman Richard Hawkins seconded; the motion passed with unanimous "Aye" votes recorded in the minutes.

The report was accepted as a formal record of the city’s investment position for the quarter. The minutes record the pledged coverage percentage (102%), which indicates the city’s deposits are collateralized above 100% by third-party bank pledges per the presentation; no additional questions or objections are recorded in the minutes.

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