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Monahans council approves updated public funds investment policy with cyber-security clause
Summary
The council unanimously approved Resolution No. 2026-002, endorsing an updated Public Funds Investment Policy that adds a cyber-security clause to Internal Controls and emphasizes safety, liquidity and diversification over yield.
City Manager Rex M. Thee presented Resolution No. 2026-002 for the council's annual review of the City of Monahans Public Funds Investment Policy, saying the policy has been restructured and updated to reflect state law changes.
"The policy includes a cyber security clause under Internal Controls; and, in accordance with public funds state law, this policy will reiterate maintaining public trust, by providing safety, liquidity, and diversification, before yield," Thee said. Councilman Gerald Stava moved to approve the reviewed policy; Councilwoman Ivy Valenzuela seconded. The motion passed with four recorded "Aye" votes; one member was absent.
Thee told the council staff is monitoring the city's investment policy closely during the merger of Tejas Bank and Maverick Bank, but reported no discrepancies with state legislation. The council did not change the policy language at the meeting and approved it as presented.
