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OK, WE'RE GOING TO GO AHEAD AND CALL THIS MEETING TO ORDER ON THE 10TH DAY OF MAY 2021 AT 2:00 P.M.. CAN I GET SOMEBODY TO MAKE A MOTION TO SKIP THE INVOCATION AND THE PLEDGE TODAY? SO MOVED.
WE HAVE A MOTION? DO WE HAVE A SECOND? SECOND. WE HAVE A MOTION AND A SECOND.
OPPOSED NONE. MOTION CARRIES ANY ANNOUNCEMENTS.
OK, THEN WE'LL GET TO DISCUSSION ACTION ITEM ONE.
[1. Discussion/ Action County Treasurer to present recommendation of safekeeping for the American Rescue Funds. Speaker: Judge Haden; Cost: None; Backup: 57]
COUNTY TREASURER TO PRESENT RECOMMENDATIONS OF SAFEKEEPING FOR THE AMERICAN RESCUE FUNDS.WOULD YOU MAKE SURE YOUR LITTLE LIGHTS ON THERE? IT'S ON HERE. YEAH. YEAH.
GOOD AFTERNOON, JUDGE AND COMMISSIONERS.
I COME BEFORE YOU TODAY ON BEHALF OF THE CALDWELL COUNTY INVESTMENT COMMITTEE TO DISCUSS AND RECOMMEND THE PROCESS FOR SAFEKEEPING OF THE COUNTY'S ALLOCATION OF THE AMERICAN RESCUE PLAN FUNDS IN COMPLIANCE WITH AND IN ACCORDANCE TO GOVERNMENT CODE TITLE 10 SUBTITLE F CHAPTER 2256.
PUBLIC FUNDS INVESTMENT AND CALDWELL COUNTY INVESTMENT POLICY.
DURING THIS MEETING, QUARTERLY INVESTMENT REPORTS FOR JANUARY THROUGH DECEMBER 2020 WERE REVIEWED AND THOSE HAVE BEEN PROVIDED FOR YOU FOR YOUR REVIEW IN YOUR PACKET.
ADDITIONALLY, ALL CALDWELL COUNTY CASH ACCOUNTS WERE REVIEWED TO ENSURE PROPER COLLATERALIZATION.
COMMITTEE MEMBERS OF THE INVESTMENT COMMITTEE CONSIST OF JUDGE HADEN, MYSELF, ANGELA RAWLINSON COUNTY TREASURER AND COUNTY INVESTMENT OFFICER.
MR. RANDY TILL, VICE PRESIDENT AND COO OF FIRST LOCKHART NATIONAL BANK.
JJ WELLS, ASSISTANT DISTRICT ATTORNEY.
BARBARA GONZALES, COUNTY AUDITOR.
AND MAYRA CASTILLO FIRST ASSISTANT AUDITOR.
REGARDING THE COUNTY'S TOTAL ALLOCATION OF $8.47 MILLION IS TO BE RECEIVED IN TWO INSTALLMENTS. THE FIRST INSTALLMENT OF $4.24 MILLION IS EXPECTED TO ARRIVE ON OR ABOUT MAY 10TH, TODAY.
AND AS OF 1:30, IT HAD NOT ARRIVED, WITH THE SECOND INSTALLMENT EXPECTED TO ARRIVE IN MAY OF 2022.
IT IS THE RECOMMENDATION OF THIS COMMITTEE TO THE COURT TO ESTABLISH A NEW TX POOL INVESTMENT ACCOUNT, WHICH WILL CONTAIN FUNDS RECEIVED FROM THE AMERICAN RESCUE PLAN ONLY . FUNDS WILL BE SAFE KEPT AND LIQUID YIELD IS AVERAGING POINT ZERO ONE PERCENT CURRENTLY REGARDING PROPER COLLATERALIZATION TO COVER OUR CURRENT CASH ACCOUNTS, THE COMMITTEE RECOMMENDS INCREASE IN PLEDGING OF SEVEN HUNDRED AND SIXTY THOUSAND.
WHICH BRINGS US TO A TOTAL OF 11 MILLION IN PLEDGED SECURITIES, OF WHICH NINE POINT FIVE MILLION IS NAMED TO THE COUNTY AND ONE POINT FIVE NAMED TO CSCD.
THIS WILL REQUIRE A SECOND AMENDMENT TO THE COUNTY'S CURRENT DEPOSITORY CONTRACT.
IN CLOSING, WE SEEK PERMISSION FROM THE COURT TO ESTABLISH A NEW TX POOL INVESTMENT ACCOUNT EXCLUSIVELY FOR THE AMERICAN RESCUE PLAN FUNDS AND TO AUTHORIZE THE AMENDMENT TO THE COUNTY'S DEPOSITORY CONTRACT TO REFLECT OUR CURRENT NEEDS.
YOU HAVE ANY QUESTIONS? ANY QUESTIONS, IF NOT, I'D LOOK FOR A MOTION TO APPROVE THE NEW TX POOL FUND.
WE HAVE A MOTION DO WE HAVE A SECOND? SECOND.
MOTION AND A SECOND. ALL IN FAVOR, SAY AYE.
AYE. OPPOSED NONE, THE MOTION CARRIES.
MAY WE ALSO GET AUTHORIZATION TO AMEND OUR DEPOSITORY CONTRACT FOR THE ADDITIONAL PLEDGING? YES, COMMISSIONERS, GOT TO GET A MOTION.
I SO MOVED. WE HAVE A MOTION, DO WE HAVE A SECOND.
SECOND. WE HAVE A MOTION AND A SECOND TO DO WHAT ANGELA JUST SAID.
AYE. OPPOSED NONE, MOTION CARRIES. I DON'T THINK I COULD DO THAT TWICE.
ALL RIGHT. AND THAT BRINGS US TO ITEM TWO, MOTION TO ADJOURN.
I'LL MAKE THE MOTION WE HAVE A MOTION.
SECOND. WE HAVE A MOTION AND A SECOND.
AYE. OPPOSED THE MOTION CARRIES.
WE ARE ADJOURNED AT 2:04.
* This transcript was compiled from uncorrected Closed Captioning.