LOGIC is a AAA rated investment program tailored to the investment needs of Texas local governments. LOGIC assists governments to make the most of taxpayer dollars. Local officials can improve the return on their invested balances by pooling their money with other entities to
achieve economies of scale in a conservative fund in full compliance with the Texas Public Funds Investment Act.
LOGIC maintains 3 primary goals for investing public funds:
- Investments are subject to the strict requirements of the Public Funds Investment Act.
- LOGIC is a "Constant Dollar" net asset value pool.
- Portfolio securities are marked-to-market daily.
- Repurchase agreements are fully collateralized with U.S. Government securities.
- Transaction confirmations and monthly statements are provided to all participants.
- Monthly participant newsletters provide all information required under the Public Funds Investment Act.
- Customers have same day access to invested funds with the latest deadlines available.
- Wire, ACH and internal account transfers are free of charge.
- Transactions have no minimum or maximum amounts.
- Account balances have no minimum balances.
- Number of participant accounts are unlimited.
- Payments can be made directly to vendors.
- Deposits earn interest the day of deposit.
- Rates change on a daily basis.
- Rates are quoted and published net of fee.
Required Documentation For Enrollment:
- Resolution passed by the governing board.
- Additional Party Agreement.
- Bank Information Worksheet.
- Local Investment Policy (for certification).
LOGIC Offers Access To Additional Services To Assist Local Governments:
- Customized Internet Reporting
- Bond Proceeds Management
- Investment Policy Services
- Arbitrage Rebate Services