Commissioners Court Meeting

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Meeting Date:	04/26/2021
FARO WEALTH/KOVACK SECURITIES INC Authorization
Submitted for:	Jeronimo Martinez	Submitted By:	Jeronimo Martinez
Department:	Treasurer

Subject:

Discussion and possible action to authorize the Webb County Treasurer to work with FARO WEALTH/KOVACK SECURITIES INC. for the purchase of Municipal Bonds, CD’s, and other authorized investments; authorizing the approval of Non-Corporate Resolution for said purpose; authorizing the County Judge to execute all relevant documents thereof; and any other matters incident thereto.

Issue: The County Treasurer is looking to diversify our investment portfolio.

Solution: The County Treasurer will work with FARO WEALTH/KOVACK SECURITIES INC. in order to secure Municipal Bonds, CD’s, other authorized investments.

Result: Webb County’s Investment Portfolio will be diversified and obtain higher coupon rates.

Background:

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Previous Court Action:

Fiscal Impact

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Financial Impact:
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Budget Account Number:	n/a
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Financial Impact:
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