Title
Consider approving Resolution No. 2025-084 authorizing the participation of the City of Farmers Branch in the Local Government Investment Cooperative (LOGIC) and designating authorized representatives; and take appropriate action.
Body
REQUESTOR:
Finance Department
BACKGROUND:
This item was tabled from the May 20, 2025, City Council meeting.
This Resolution provides that the City of Farmers Branch may participate in the Local Government Investment Cooperative (LOGIC). LOGIC is a AAA-rated local government investment pool that provides Texas government entities with solid investment returns, portfolio liquidity, and diversification. LOGIC is administered by Hilltop Securities and JPMorgan Chase (our current financial advisor and commercial bank, respectively).
FISCAL IMPACT:
Maximize investment return within Investment Policy requirements.
DISTRICT:
Citywide
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution No. 2025-084 as presented.
2. I move to approve Resolution No. 2025-084 with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENT(S):
1. Resolution No. 2025-084
2. Exhibit A - LOGIC Participation Application
3. Information Memorandum