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Chairman Engelken commented there seems to be a bit of a lag since the Public Investment Act <br /> was updated during the 2013 Legislative Session and revisions are just now being made by the <br /> City. Treasurer Shelley Wolny advised some of the changes have been previously included, and <br /> the new items are clean-up items. <br /> Committee Member Moser moved to approve the recommendation to the La Porte City Council to <br />` amend the City of La Porte's Investment Policy. Alternate Member 1 Martin seconded. MOTION <br /> PASSED. <br /> Ayes: Chairman En elken Committee Member Moser, and Alternate <br /> Y 9 > <br /> Member 1 Martin <br /> Nays: None <br /> Absent: Committee Member Leonard <br /> 6. Receive and review Local Bidder Preference Policy and Local Bidder Preference Application <br /> — M. Dolby <br /> Purchasing Manager Cherell Daeumer presented a summary. Sections 271.905 and 271.9051 of <br /> the Texas Local Government Code allow a municipality to have a local bidder's preference policy. <br /> Per the Fiscal Affairs recommendation, the threshold was lowered from $50,000 to $25,000 to also <br /> include formal quotes. The City Attorney recommended removal of best value language to comply <br /> with state statutes. The policy would only apply to quotes/bids awarded to lowest responsible <br /> bidder. <br /> 7. Set date for next meeting —M. Dolby <br /> The Committee set January 26, 2015, at 5:00 p.m., as the date and time for the next meeting. <br /> 8. Administrative Reports—C. Alexander <br /> City Manager Corby Alexander had nothing additional to report. <br /> 9. Committee Comments — Matters appearing on agenda; Recognition of community members, city <br /> employees, and upcoming events; Inquiry of staff regarding specific factual information or existing <br /> policy. <br /> Committee member Moser commented the economy is good. <br /> 10.Adjourn <br /> There being no further business, Committee Member Moser moved to adjourn the meeting at <br /> 4:58 p.m. Committee Member Martin seconded. MOTION PASSED. <br /> R pectfully submitted, <br /> Patrice Fogarty, Ity Secret <br /> Passep and approved on the' �Cday of , 2014. <br /> Chairman Chuck Eng en <br /> Page 2 of 2 <br /> October 27,2014, Fiscal Affairs Committee Minutes <br />