Weatherford
Weatherford City Council (Work Session), June 25, 2024: 1 item; Investment Policy Discussion
0 consent items, 1 regular item. Written from the minutes.
2.a: Investment Policy Discussion. Chief Financial Officer Dawn Brooks opened this item for discussion by reviewing the purpose of the Work Session was to discuss alternative investment strategies, particularly those related to electric investments within the Weatherford Municipal Electric Authorized Investments, as requested and proposed by Mayor Pro Tem Heidi Wilder. Mayor Pro Tem Wilder emphasized the need for the proposed investment language to establish continuity between the hedging policy and the risk management policy to ensure consistency with practices moving forward. Mrs. Brooks noted the City's consultants had advised Texas Government Code Section 2256 contained language that addressed hedging transactions. She suggested incorporating the proposed language into the Risk Management Policy to avoid redundancy and keep the investment policy focused on investments in compliance with Government Code 2256. The City Council agreed to review the proposed changes and revisit the discussion at a Council meeting scheduled in August.
Compiled from the city secretary's minutes by the Ledger's extractor, in the minutes' own wording, item by item; the Ledger adds no characterization. Read the minutes for the full record.
Sources: City of Weatherford: council minutes, June 25, 2024 (Granicus); Agenda for this meeting (Granicus); Meeting video (Granicus)