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File #: 18-366    Name:
Type: Report Status: Consent Item Ready
File created: 6/22/2018 In control: City Council
On agenda: 7/9/2018 Final action:
Title: Approval of a resolution designating the investment officers for the City of New Braunfels.
Attachments: 1. Resolution for Investment Officers
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Presenter/Contact

Presenter

Sandy Paulos, Assistant Director of Finance

Contact Info

(830) 221-4387- spaulos@nbtexas.org

 

Subject Header

SUBJECT:

Title

Approval of a resolution designating the investment officers for the City of New Braunfels.

 

Body

BACKGROUND / RATIONALE:

The Public Funds Investment Act and the City of New Braunfels Investment Policy require that the City designate investment officers by resolution.  Since recent changes in staff have occurred, this action is necessary to bring the City into compliance.  The resolution designates the following individuals to serve as investment officers for the City:

 

                                           Robert Camareno, City Manager

                                          Jared Werner, Interim Director of Finance

                                          Sandy Paulos, Assistant Director of Finance

 

These individuals will be authorized to deposit, withdraw, transfer, open accounts and manage the funds of the City while exercising the judgment and care that a prudent person would exercise in the management of the person's own affairs and to perform all the requirements of the Public Funds Investment Act.

 

ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:

 

 

 

 

 

 

FISCAL IMPACT:

N/A

 

Recommendation

COMMITTEE RECOMMENDATION:

N/A

 

STAFF RECOMMENDATION:

Staff recommends approval of the resolution designating the investment officers for the City of New Braunfels.