By Anton Riecher
Lytle Mayor Ruben Gonzalez cast the deciding vote Jan. 12 to effectively kill proposed action to transfer $7.1 million in city funds placed with a well-known state government investment pool back to its original home at Lytle State Bank.
Instead, the council voted to table further action until a future council meeting to allow bank officers and City Administrator Zachary Meadows to negotiate favorable terms for the suggested transfer of nearly $2 million of the total invested by the city with TexPool.
“Is that an option to work through this?” Gonzalez asked the bank officials, noting that a large portion of that new deposit is scheduled to cover major infrastructure projects over the coming year.
TexPool, overseen by the state comptroller, is the largest public funds investment pool in the state, created for local governments to combine funds for safer, higher-yielding investments. The pool provides investment services to more than
