Regional Water System
title
Designation of Authorized Representatives in the Texas Local Government Investment Pool (TexPool); Resolution No. 26-17
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SUBJECT
recommendation
Adopt Resolution No. 26-17 amending the list of authorized representatives for Investments in TexPool.
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PURPOSE
TexPool requires the Board of Directors approve all additions to the list of the District’s authorized representatives.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors adopt Resolution No. 26-17, “A Resolution Amending Authorized Representatives for Investments in TexPool.” The resolution is required to be submitted with a Participation Agreement for participation in each local government investment pool.
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Consultant: |
N/A |
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Scope: |
Designate authorized NTMWD representatives in TexPool |
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Project: |
N/A |
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Amount: |
N/A |
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Committee: |
N/A |
DRIVER(S) FOR THIS PROJECT
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Strategic Objective: |
2.3 Rigorous Financial Management |
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☐ Regulatory Compliance |
☐ Asset Condition |
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☐ Capacity |
☐ Redundancy/Resiliency |
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☐ Relocation or External Requests |
☐ Operational Efficiency |
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☐ Safety |
☒ Administrative |
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☐ Policy |
☐ Other _____________ |
BACKGROUND
• Section 4.8 of the District’s Investment Policy authorizes the investment of District Funds in “Local government investment pools” which comply with the Public Funds Investment Act. TexPool is AAAm rated, which meets the requirements set forth in the District’s investment Policy. Its primary investment objectives are to protect principal, maintain liquidity, provide safety of funds, and maximize returns. Participants include cities, counties, school districts, institutions of higher education, special districts, and other public entities of Texas.
• TexPool originated in 1989 and is the oldest and largest investment pool in the state. The pool currently provides investment services for 2,999 participants. As of April 30, 2026, the fund balance was $39.1 billion and the average yield for the month of April was 3.6586%. Federated Investors, Inc., administers the pool.
• The attached resolution amends the list of authorized representatives to take such action as necessary to invest funds with the pool.
• TexPool only allows authorized representatives to communicate with TexPool regarding the District’s accounts or enter transactions online. District employees can only move funds between District accounts.
• The District has 3 employees designated to enter transactions and 3 employees designated to review and approve transactions.
• The District’s internal controls require 2 approvals for all transactions.
• This action was last taken in March 2023.
FUNDING
No funding is requested.