CHESTER – Chester City Council signed an official Investment Policy and Strategy for itself with its local bank. After consulting with the Tyler Country Treasurer Leann Monk, Mayor Robert Poynter expressed a tad frustration over Texas again imposing another unfunded mandate, or so it seemed, disliking the government getting into local business.
Chester Secretary Balela Weaver expressed how well their bank worked with her. Essentially, since the city only invested in annual CDs, that composed the sum of their investment strategy, unlike huge city that might also invest in stocks, bonds, and mutual funds. Therefore, Chester will just need to renew this policy with the bank each year or when the city investment officer changed.
Councilman Keith Mahaffey asked about minor repairs on the city park, and Poynter shared the concern
and a bit of history.
Councilman Bryan Davis brought up the electrical needs for the adjacent building. In short, the council approved getting bids for the renovation.
Weaver thanked Poynter and the council for the new printer. Poynter had approved the purchase in good faith prior to council approval to avoid a services failure. The city tech expert, Tommy Hubert, who the city has on retainer replaced and installed the printer.
In other quick business, the council passed the previous minutes and the financials.
