HomeMy WebLinkAboutResolution No. 04 07 TexasTERMRESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
UNIVERSITY PARK, TEXAS, ENTERING INTO A
PARTICIPATION AGREEMENT WITH THE TEXASTERM
LOCAL GOVERNMENT INVESTMENT PORTFOLIO; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of University Park, Texas, ("Participant") is a local government of
the State of Texas and is empowered to delegate to a public funds investment Pool the
authority to invest funds and to act as custodian of investments purchased with local
investment funds; and
WHEREAS, it is in the best interest of the Participant to invest local funds in
investments that provide for the preservation and safety of principal, liquidity, and yield
consistent with the Public Funds Investment Act; and
WHEREAS, the TexasTERM Local Government Investment Portfolio, a public funds
investment ,',ool (a "Pool"), was created on behalf of entities aLh~,r~.e,~,t~, obje~v..es in
order of priority ~re preservation and safety of~~'~~..~t ~t~,h the
Public Funds Investment Act. *~*" ........ ~ ' ~ " I '%~
NOW THEREFORE, be it resolved as follows:
A. That Participant shall enter into a Participation Agreement to establish an
account in its name in the Pool, for the purpose of transmitting local funds for investment in
either the TexasTERM series or the TexasDAILY series within the Pool.
B. That the individuals, whose signatures appear in this Resolution, are Authorized
Representatives of the Participant and are each hereby authorized to transmit funds for
investment in the Pool and are each further authorized to withdraw funds from time to time, to
issue letters of instruction, and to take all other actions deemed necessary or appropriate for
the investment of local funds.
List of the Authorized Representatives of the Participant. These individuals may be
issued P.I.N. numbers.
1. Name: Kent P,~Austin A Title: Director of Finance
2. Name: T or~Tv;~zik Title: Controller
3. Name: Bob Liv'.L~ston Title: City Manager
List the name~of-tfie Authorized Representative provided above that will have primary
responsibility for performing transactions and receiving confirmations and monthly
statements under the Participation Agreement.
In addition and at the option of the Participant, one additional Authorized Representative can
be designated to perform only inquiry of selected information. This limited representative
cannot make deposits or withdrawals. If the Participant desires to designate a representative
with inquiry rights only, complete the following information.
4. Name: Title: ~'
Signature:
C. That this Resolution and its authorization shall continue in full force and effect until
amended or revoked by the Participant, and until the Pool receives a copy of any such
amendment or revocation.
This Resolution is hereby introduced and adopted by the Participant at its meeting held on the
18th day of June, 2004..
NAME OF PARTICIPANT:
JAMES H. HOLMES, III
Printed Name
MAYOR
Title .
NINA U. WILSON
Printed Name
CITY SECRETARY
Title
SEAL: