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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance |
Commission Meeting Date: October 4, 2016 |
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Staff Contact: |
Bryan Kidney, Finance Director |
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Recommendations/Options/Action Requested: |
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Adopt Resolution No. 7171, authorizing the Assistant City Manager, Finance Director, Senior Accountant and Accountant to access the City of Lawrence MIP account. |
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Executive Summary: |
The State of Kansas offers a local government investment pool entitled State of Kansas Municipal Investment Pool (MIP), which is an investment alternative for municipalities in the state of Kansas and is governed by the State of Kansas Pooled Money Investment Board (PMIB).
The City of Lawrence was authorized expanded investment powers under K.S.A. 12-1677b which allows the City to invest in government agencies. The City is a participant in the Kansas Municipal Investment Pool.
Due to staffing changes, the City is required to update account access with the PMIB. Resolution No. 7171 authorizes the Assistant City Manager, Finance Director, Senior Accountant and Accountant to access the Municipal Investment Pool for the purpose of making investments and paying the principal and interest on City bonds.
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Strategic Goal Area: |
Other |
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Fiscal Impact (Amount/Source): |
There is no fiscal impact to the City |
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Attachments: |
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