07-21-1998 (City Council) Agenda Packet WYLIE CITY COUNCIL
Special Called Meeting
Tuesday, July 21, 1998 .
6:00 p.m. •
Wylie Municipal Complex-Council Chambers
2000 State Highway 78 North
Wylie,Texas 75098
Call to Order
Items for Consideration
1. Consider and Act Upon a Resolution Changing the Authorized Representative for Local
Government Investment Cooperative (Logic).
2. Consider and Act Upon a Resolution Amending the Authorized Representative for TexPool
(Texas Local Government Investment Pool).
Worksession
Departmental Presentations for FY1998-99 Budget.
Executive Session
In accordance with Chapter 551, Government Code, Vernon's Texas Codes Annotated
(Open Meeting Law).
Section 551.071, Discussion with City Attorney on a matter concerning Kansas City Southern
Railroad in which the duty of the attorney to the governmental body under the Texas
Disciplinary Rule of Professional Conduct of the State of Texas clearly conflicts with this
Chapter; and Section 551.075 Conference with City Employees to review information from
employees concerning Kansas City Southern Railroad.
Sections 551.071 Consultation with City Attorney; and 551.075 Conference with Employees
to Discuss Issues Regarding the Future Development of Spring Creek Parkway;
Reconvene into Open Meeting
Take any action as a result of Executive Session.
Adjournment.
,--
I certify that this Notice of Meeting was posted on this the /7 day of , 1998 at 5:00 p.m. as required by law in
accordance to Section 55 42 oft e Texas Government Cod .
ff ce of the City e,retary Date Notice Removed:
e Wylie Mu " ipal'Complex is Wheelchair accessible. Sign interpretation or other special assistance for disabled attendees.
Must be requested 48 hours in advance by contacting the City Secretary's Office at 972/442-8100 or TDD 972/442-8170.
City Council Agenda
July 21,1998
Page 1
WYLIE CITY COUNCIL
AGENDA COMMUNICATIONPt'
Special Called Meeting
Tuesday, July 21, 1998
Issue
Consider and Act Upon a Resolution Amending Authorized Representatives for Local
Government Investment Cooperative (LOGIC)
Background
LOGIC is organized pursuant to the Texas Interlocal Cooperative Act and the Texas Public
Funds Investment Act as a local government investment pool. The 234 participants include
78 cities, 27 counties, 98 school districts, 5 higher education districts, 16 utility districts, and
10 other entities. Some of the cities using LOGIC are McKinney, Denton, Plano, Greenville,
Garland, Sachse, Richardson and Rockwall. The pool is operated like a money market
funding which interest is earned daily and paid on a monthly basis.
Changes in the Finance Staff has made it necessary for the City to complete a Resolution
Amending Authorized Representatives. This resolution will revise the list of individuals
authorized to complete transactions between the City and LOGIC. Staff has already sent a
letter to LOGIC deleting the authority of a former staff member. The authorized
representatives in the new resolution will be Mike Collins - City Manager, Brady Snellgrove -
Finance Director, and Anita Collins - Accountant.
Financial Considerations
N/A
Other Considerations
The attached LOGIC Resolution complies with the Public Funds Investment Act of the Texas
Government Code and the City's Investment Policy.
Board/Commission Recommendation
N/A
Agenda Communication
Resolution Amending Authorized Rep/LOGIC
Page 1
Staff Recommendation
Staff recommends approval of this resolution in order to facilitate investment of City funds in
an efficient manner.
Attachments:
Resolution
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CA,631;,,,4
Prepared by Reviei d by Financ City Manager Approval
Agenda Communication
Resolution Amending Authorized Rep/LOGIC
Page 2
WYLIE CITY COUNCIL
AGENDA COMMUNICATION
Special Called Meeting
Tuesday, July 21, 1998
Issue
Consider and Act Upon a Resolution Amending Authorized Representatives for TexPool
(Texas Local Government Investment Pool).
Background
TexPool is a state managed investment pool created for the benefit of cities, school districts
and other political subdivisions. The 1,316 participants in this pool include 259 cities, 124
counties, 429 school districts, 41 higher education districts, 349 utility districts, 50 health care
districts and 64 other entities. Some of the cities using TexPool are Allen, McKinney, Frisco,
Richardson, Farmersville, Greenville, Garland, Rowlett, Sherman and Austin. The pool is
operated like a money market fund in which interest is earned daily and paid on a monthly
basis.
Changes in the Finance Staff has made it necessary for the City to complete a Resolution
Amending Authorized Representatives. This resolution will revise the list of individuals
authorized to complete transactions between the City and TexPool. Staff has already sent a
letter to TexPool deleting the authority of a former staff member. The authorized
representatives in the new resolution will be Mike Collins - City Manager, Brady Snellgrove -
Finance Director, and Anita Collins - Accountant.
Financial Considerations
N/A
Other Considerations
The attached TexPool Resolution complies with the Public Funds Investment Act of the Texas
Government Code and the City's Investment Policy.
Board/Commission Recommendation
N/A
Agenda Communication
Resolution Amending Authorized Rep/TexPool
Page 1
Staff Recommendation
Staff recommends approval of this resolution in order to facilitate investment of City funds in
an efficient manner.
Attachments:
Resolution
Prepared by Rev. ed by Fina ce City Manager Approval
Agenda Communication
Resolution Amending Authorized Rep/TexPool
Page 2