He reiterated that the City should have other investment options available, especially if the State elects to eliminate TexPool. In answer to Councilmember Ryon's question, the City Manager stated that the City could use all three, not just one fund, with some investments in each of these three funds. Further, each will be evaluated according to the City's needs before a decision is made. In response to Councilmember Cooper's question about using local banks, the City Manager pointed out that the restrictive guarantees for such funds are too costly for local banks. The Mayor thanked the Assistant Director for her informative presentation.
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Page 152 Vol. Mr. Stanford pointed out the vast savings over the regular retail cost of these services. He stated that the staff had been working for 2-3 months to outline the type of inquiries that are frequently made by the general public. He stated that the various lines would be revised, as we review the number of calls for each area. He then introduced Ms. Michele York of the Standard-Times, who has been very helpful in formulating these plans.