HomeMy WebLinkAbout032572 RES - 10/12/2021Resolution authorizing a two-year service agreement extension to provide
investment advisor services with Meeder Public Funds, Inc., in an amount not to
exceed $60,000.00 for the first of two option periods, effective September 4, 2021,
with first-year funding available in the FY 2021-22 Budget through the General
Fund.
WHEREAS, these services will be used for investment advisor services for the
Finance and Business Analysis Department;
WHEREAS, the current agreement, which was assigned to Meeder Public Funds,
Inc., after it acquired Patterson Capital Management, L.P., dba Patterson & Associates,
expired on September 4, 2021; and
WHEREAS, Government Code Chapter 2256, Section 2256.003(b) provides that
the governing body of an investing entity may contract with an investment management
firm registered under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et
seq.) or with the State Securities Board to provide for the investment and management
of its public funds or other funds under its control. A contract made under authority of this
subsection may not be for a term longer than two years. A renewal or extension of the
contract must be made by the governing body of the investing entity by order, ordinance,
or resolution;
Be it resolved by the City Council of the City of Corpus Christi, Texas:
Section 1. The City Manager, or designee, is authorized to execute all documents
necessary to renew or extend the service agreement with Meeder Public Funds, Inc., of
Austin, Texas based on a total amount not to exceed $60,000.
Section 2. Authorization of this service agreement renewal is ratified back to the effective
date of September 4, 2021.
032572
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SCANNED
PASSED AND APPROVED on the i� day of 0C--62-, 2021:
Paulette M. Guajardo
Roland Barrera
Gil Hernandez
Michael Hunter
Billy Lerma
John Martinez
Ben Molina
Mike Pusley
Greg Smith
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ATTEST: OF CORPUS CHRISTI
Rebecca Huerta
City Secretary
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Paulette M. Guajardo
Mayor
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