File #: 23-054   
Type: Resolution (Consent) Status: Passed
File created: 2/8/2023 In control: Financial and Management Services - Finance
On agenda: 2/28/2023 Final action: 2/28/2023
Enactment date: 2/28/2023 Enactment #: 2023-061
Title: Commissioner Worley - Finance - To Approve a Resolution for Gaston County to Participate in the North Carolina Investment Pool as Permitted by and Pursuant to NC General Statute Relating to a Commingled Investment Pool
Sponsors: Ronnie Worley
Attachments: 1. Adopted 2023-061, 2. NCIP Resolution, 3. NCIP Information Statement, 4. NCIP Trust Indenture

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Commissioner Worley - Finance - To Approve a Resolution for Gaston County to Participate in the North Carolina Investment Pool as Permitted by and Pursuant to NC General Statute Relating to a Commingled Investment Pool

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STAFF CONTACT

Tiffany Murray - Finance - 704-866-3032

BUDGET IMPACT
budget

N/A

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

 

It is the intent of the County that public funds will be invested to the extent possible to reduce the need for property tax revenues. Funds will be invested with the chief objectives of safety of principal, liquidity, and yield, in that order. All deposits and investments of County funds will be in accordance with N.C.G.S. 159-30. N.C.G.S. 159-30 (c)(10) allows for local governments to invest in a commingled investment pool established by interlocal agreement by two or more units of local government pursuant to G.S. 160A-460 through G.S. 160A-464, if the investments of the pool are limited to those qualifying for investment under this subsection (c). This resolution will allow the County the opportunity to participate in the investment pool and diversify the investment portfolio.

 

POLICY IMPACT

N/A

ATTACHMENTS

Resolution; NCIP Information Statement; NCIP Indenture of Trust