1992-01-13 Regular Meeting - Laserfiche WebLink

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developing this expertise. The Texas State Treasury has been on the leading edge of safe and innovative cash management for state government, and it is TexPool's goal to offer these economies of scale and short-term investment expertise to local governments. The objective of TexPool is to provide a safe environment for the short- term investment of public funds. Safety is the prime responsibility of every public investment officer. INVESTMENT OBJECTIVES AND POLICIES TexPool is established as a trust fund, segregated from all other trustors, investments, and activities of the Trust Co. Only local governments having contracted to participate in TexPool ("Participants") have an investment interest in its pool of assets. The primary objective of TexPool is to provide a safe environment for the placement of public funds in short-term, fully collateralized investments. While safety is the primary goal of TexPool, liquidity is a simultaneous objective. After meeting the first two objectives, TexPool seeks to provide a competitive yield for the invested funds. Investments of TexPool are only those authorized by the Texas statutes governing pools for local governments. The portfolio may include the follow- ing: Obligations of the United States or its agencies and instrumen- talities; 2. Direct obligations of the State of Texas or its agencies; 3. Other obligations, the principal of and interest on which are unconditionally guaranteed or insured by the State of Texas or -2-