title
Approval of a Resolution Amending TexPool Authorized Representatives for the City of Lewisville, Texas.
request
ADMINISTRATIVE COMMENTS:
The City of Lewisville utilizes TexPool, a Local Government Investment Pool established for the investment of public funds. TexPool requires the City Council to designate authorized representatives by resolution. Historically, the City’s investment officers, the Director of Finance and the Fiscal Services Manager, have been authorized to initiate transactions on behalf of the City. This resolution reauthorizes the current Director of Finance, David Erb, and designates Finance Manager D’Ann Tompkins as an authorized representative, replacing Fiscal Services Manager Clifford Howard, who recently retired after more than 38 years of service to the City. Ms. Tompkins will also serve as an investment officer for the City in accordance with the Public Funds Investment Act. In addition, Tadd Phillips is being added as a third authorized representative to provide greater flexibility in processing transactions and managing changes to authorized representatives.
RECOMMENDATION:
That the City Council approve the resolution as set forth in the caption above.