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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: September 25.2006 <br />Requested By: Michael Dolbr ~ <br />Department: Finance <br /> <br />Appropriation <br /> <br />Source of Funds: N/A <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: X Ordinance: <br /> <br />Amount Budgeted: N/A <br /> <br />Exhibits: Resolution Amending Authorized <br /> <br />Amount Requested: Nt a. <br /> <br />Representatives of the City of La Porte <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The Public Funds Investment Act (PFIA) of 1987 requires that governing bodies designate by rule, order, <br />ordinance, or resolution, as appropriate, one or more officers or employees of the entity to be responsible for <br />the investment of its funds consistent with the investment policy adopted by the entity. <br /> <br />The City of La Porte currently recognizes the Assistant City Manager, Assistant Finance Director, and <br />Budget/Investment Officer as Investment Officers. We need to amend previous resolutions authorizing <br />representatives to add the Controller as an Authorized Representative to perform transactions for the City of <br />La Porte with the three investment pools, TEXPOOL, LOGIC and TexStar. Additionally, we need to remove <br />the Assistant City Manager, due to the retirement of Cynthia Pearson. <br /> <br />This individual has received the required training as mandated by the PFIA. <br /> <br />Along with the Resolution to Amend Authorized Representatives required by TexPool, the required forms <br />for LOGIC and TexSTAR are included. <br /> <br />Action Required bv Council: <br /> <br />Approval of Resolution Amending Authorized Representatives. <br /> <br /> <br />r -dD -f) ( <br />Date -,LJ <br />