Title
Consider and take action on a resolution approving the City of League City’s Investment Policy, Investment Strategies, List of Authorized Broker/Dealers and Safekeeping/Custodial Agents for the City of League City (Director of Finance)
Background:
Approval of this item is for the Investment Policy, Investment Strategies, List of Authorized Broker/Dealers and Safekeeping/Custodial Agents for the City of League City with changes listed below.
ANNUAL APPROVAL REQUIRED:
Pursuant to the Public Funds Investment Act (PFIA), Texas Government Code, 2256, the governing body of an investing entity covered by the Act is required to review and approve the entity’s investment policies annually. The City’s policy was last approved on February 11, 2025.
PROPOSED CHANGES:
On June 16, 2026, the Finance Committee approved TRB Bank to the City of League City Broker/Dealer and Safekeeping/Custodial Agent Lists (Exhibit B attached to the policy) to update the current Investment Policy consistent with the Finance Committee’s action.
CERTIFICATION:
In October 2024, the City received recertification from the Government Treasurers’ Organization of Texas (GTOT) that the policy meets the requirements of the PFIA and the standards for prudent public investing established by GTOT. This is a two-year certification that expires on October 31, 2026. Staff plans to reapply for certification in 2026 and believes that the proposed policy is in compliance with GTOT standards and PFIA requirements.
Attachments:
1.Proposed Resolution
2. Exhibit A - Investment Policy 2025 - Revised
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor # 2 Financially Sustainable