Title
Receive briefing regarding annual investment activity and proposed changes to the City’s Investment Policy.
Body
During the Pre-Meeting, City staff will present an overview of the investment activity through Third Quarter Fiscal Year 2019 and historical trends. Staff will also cover proposed changes to the City’s Investment Policy that will be on the September 16, 2019, City Council agenda for approval. All proposed changes are compliant with the Public Funds Investment Act (PFIA) of Texas. The only changes are on the Broker/Dealer list on page 18 and they include:
1. Update name of FTN Financial Capital Markets to also include FHN Financial Capital Markets as they will have a name change from FTN to FHN later in the year due to rebranding efforts of their parent company First Horizon National Corporation.
2. Update contact information for TexPool.
3. Update contact information for Vining Sparks.
4. Update contact information for Wells Fargo Securities, LLC.
A redlined version of the Investment Policy is included for review.
Attachments
Investment Policy Redlined
Drafter
Myra Rogers
Head of Department
Debbie Mol