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REOUES&R CITY COUNCIL AGENDA IT* <br />Agenda Date Requested: 11/22/99 <br />Requested By: Jeff Litchfield Department: Finance <br />Report X Resolution Ordinance <br />Exhibits: Resolution Amending Authorized Representatives of the City of La Porte <br />SUMMARY & RECOMMENDATION <br />The Public Funds Investment Act (PFIA) of 1987 requires that governing bodies designate by rule, order, ordinance, or <br />resolution, as appropriate, one or more officers or employees of the entity to be responsible for the investment of its funds <br />consistent with the investment policy adopted by the entity. <br />The City of La Porte currently recognizes the Assistant City Manager/Finance, Assistant Finance Director, and Cash <br />Manager as Investment Officers. Because our previous Cash Manager resigned, and a replacement started with us on <br />November 151h, we need to amend previous resolutions authorizing representatives to reflect this change. During the <br />transition period, the Assistant City Manager/Finance and Assistant Finance Director were authorized to perform <br />transactions for the City of La Porte with the two investment pools, TEXPOOL and LOGIC. This resolution will amend <br />that authorization to include Shelley Hart, Accountant as our primary Investment Officer. <br />All of these individuals have either already received or will receive the required training as mandated by the PFIA. At <br />this time we would like to amend this resolution to add Shelley's name and signature. <br />Action Required by Council: Approval of Resolutions Amending Authorized Representatives <br />Availability of Funds: <br />General Fund <br />Capital Improvement <br />Other <br />Water/Wastewater <br />General Revenue Sharing <br />Account Number: Funds Available: YES NO <br />Date <br />