The City of Yakima has participated in the Local Government Investment Pool (LGIP) for a number of years. The LGIP is an overnight pool of investments that is managed by the Office of the State Treasurer. The LGIP investments are limited to high quality obligations with limited maximum and average maturities, the effect of which is to minimize both market and credit risk. The Office of the State Treasurer requested that the City of Yakima update its authorizing resolution. The attached resolution is prescribed by the State for the City to continue its participation in the LGIP. |