Item 9C ResolutionC r MBIA Municipal Investors
L � $S Service Corporation
800 - 395 -5505
www.mbia.com
Resolution No. 03 -042
Texas Public Entity
Resolution
WHEREAS, pursuant to the requirements of the Public Funds Investment Act, Texas
Government Code, Section 2256.001 et seq. (the "Act'), the (the
"Governing Body ") of the
(the "Local Government') has
previously reviewed and adopted an investment policy (the "Policy ") that provides in part that
the funds of the Local Government will be invested in investments permitted by the Act in
order to: (i) invest only in investments legally permitted under Texas law; (ii) minimize risk by
managing portfolio investments so as to preserve principal and maintain a stable asset value;
(iii) manage portfolio investments to ensure that cash will be available as required to finance
operations; and (iv) maximize current income to the degree consistent with legality, safety and
liquidity; and
WHEREAS, the Act provides that funds under the control of a Local Government may be
invested through investment pools meeting the standards of Section 2256.016 of the Act and
the Local Government has reviewed the Information Statement, dated 2/8/2002 as
supplemented on (N/A) (the "Statement'), of Texas Cooperative Liquid Assets
Securities System, an investment pool (the "Pool') administered by MBIA Municipal Investors
Service Corporation, as the manager of the Pool (the "Manager") and has determined that the
investments proposed to be acquired by the Pool are of a type permitted by the Act and
consistent with the Policy and that an investment in the Pool will assist in achieving the goals
set forth in the Policy; and
WHEREAS, the Local Government understands that the Pool is created through an
Amended and Restated Trust Agreement, dated as of May 1, 2001 (the "Trust Instrument'),
which provides the terms on which the Pool will operate and the rights of the participants in
the Pool who will be governed and sets forth the responsibilities of the Manager, and of Bank
One, N.A. as custodian (the "Custodian ");
NOW THEREFORE, Be it Resolved by the Governing Body of the Local Government: That
the form, terms and provisions of the Trust Instrument, a draft of which was presented and
reviewed at this meeting, be and the same are hereby approved and adopted; and that
, heretofore appointed by the Local Government
(primary contact)
pursuant to the Policy and the Act as its Investment Officer, be and he is hereby authorized
and directed to execute and deliver to the Manager and the Custodian in the name and on
behalf of the Local Government, a Trust Instrument substantially in the form of the trust
Resolution No. 03 -042
Page 2
Texas Public Entity
Resolution
instrument reviewed and approved at this meeting, together with such changes as said officer
may approve, such approval to be conclusively evidenced by the execution thereof; and be it
further
Resolved, that the investment program described in the Statement is hereby found and
determined to be consistent with the Policy, and to preclude imprudent investment activities
arising out of investment transactions conducted between the Local Government and the Pool;
and be it further
Resolved, that the Governing Body hereby officially finds and determines that the facts
and recitations in the preamble of this Resolution are true and correct and adopts the
preamble as part of the operative provisions of this Resolution; and be it further
Resolved, that the Governing Body hereby finds and declares that written notice of the
date, hour, place and subject of the meeting at which this Resolution was adopted was posted
for the time required by law preceding this meeting, and that such meeting was open to the
public as required by law at all times during which this Resolution and the subject matter
thereof were discussed, considered and formally acted upon, all as required by Chapter 551,
Texas Government Code, as amended, and the Act; and be it further
Resolved, that the officers of the Local Government, each is expressly authorized,
empowered and directed from time to time to perform all acts and to execute, acknowledge,
seal and deliver in the name and on behalf of the Local Government all certificates,
instruments and other documents as they may determine to be necessary or desirable to carry
out the provisions of this Resolution and the Trust Instrument, such determination to be
conclusively evidenced by the performance of such acts and the execution of any such
documents; and be it further
Resolved, that this Resolution shall take effect and be in full force upon and after
its passage.
Board President/Mayor
Print Name
Signature
Title
Date
C j� ® MBIA Municipal Investors
L Service Corporation
800 - 395 -5505
www.mbia.com
Board /Council Member
Print Name
Signature
Title
1 -3
C