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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br /> <br />Appropriation <br /> <br />Requested By: C nthia Alexander <br /> <br />Source of Funds: N/A <br /> <br />Department: Finance <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: X Ordinance: <br /> <br />Amount Budgeted: Nt A <br /> <br />Exhibits: Resolution Amending Authorized <br /> <br />Amount Requested: N/t1. <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. Because our Budget/Investment Officer will be out for a <br />period of time from February through April, we need to amend previous resolutions authorizing <br />representatives to add another Authorized Representative to perform these duties in her absence. During this <br />period, the Accountant will perform transactions for the City of La Porte with the three investment pools, <br />TEXPOOL, LOGIC and TexStar. <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 TexST AR are included. <br /> <br />Action Required bv Council: <br /> <br />Approval of Resolution Amending Authorized Representatives. <br /> <br />Approved for City Council Ae:enda <br /> <br /> <br />)J. -~- -() <S <br /> <br />Date <br />